The first half of 2016 saw a dramatic increase in the number of houses on the market. The number of active listings in the Park Cities increased 81 percent between December and June. The increase was even more striking in Preston Hollow, where active listings nearly doubled over the same time period.
According to Briggs Freeman Sotheby’s International Realty agent Tom Hughes, the usual increase in spring home sales started later than normal this year. He said that activity seems to have picked up slightly since school let out in May.
“Usually when you have a big run like we had in 2014 and 2015, sellers see opportunities for higher prices,” said Hughes. “When too many decide to list at the same time, it sometimes causes a glut of inventory.”