(Take note folks. This is an example of a GREAT real estate picture. 3507 Crescent Ave. if you really want to know.)
Currently there are 50 homes available for sale in the Park Cities and vicinity over $3 million dollars. What I find interesting is that 22 of these homes were listed between January 1st of this year to today. (Some might have been relisted but I did my best to weed those out)
Now for the math part. In 2007, 43 homes sold over $3 million dollars in the Park Cities and vicinity. That's roughly 3.5 homes each month. If that rate stays consistent for 2008 there are 14 months worth of inventory on the market. That's not too bad for such a high end price range considering there are some areas in Preston Hollow that have 20 months worth of inventory sitting on the market between $1 million and $2 million.
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