Selling in Preston Hollow or the Park Cities: how to price the house before you list

The number in your head and the number on the street

You have lived in the house long enough to know what the neighbors sold for, what the one on the corner is asking, and what you think yours is worth. Maybe the kids have moved out and the rooms are too many. Maybe a job has changed, or you want a different street, or a smaller yard. Whatever the reason, you have started doing the mental math, and the math depends on one number you cannot look up: what a buyer will actually pay for this house, this season.

I am Andy Scott with Dave Perry-Miller Real Estate, working from our Preston Center office. My father sold homes in Preston Hollow and the Park Cities from the 1970s through the 1990s, and I have spent fifteen years in the same neighborhoods, along with Lakewood and the close-in parts of Dallas. The biggest decision a seller makes is the price, and most of the trouble I see in a sale traces back to getting it wrong at the start. This is how I think about getting it right.

Why pricing a close-in Dallas home is harder than it looks

In a subdivision where every third house is the same floor plan, a price is nearly arithmetic. Preston Hollow, Highland Park, University Park and Lakewood are the opposite. Lots vary in size and shape. A 1950s ranch sits next to a new build. One block is in a school attendance zone that buyers pay a premium for and the next block is not. A creek lot, a corner lot, a house that backs to a busy street, a house that has been fully renovated versus one that is original: each of these moves the value in ways an online estimate cannot see.

There is also the question of what a buyer in your price range is comparing you to. A buyer at one level is weighing your renovated house against a teardown lot where they could build new. A buyer at another level is comparing finishes, pool, garage count and the condition of the systems. Knowing which buyer you are selling to tells you which comparisons matter.

And the market moves. Interest rates, the number of homes available on your streets, the time of year and what has recently gone under contract all shift what a correct price is. The number that was right in the spring may not be right in the fall. Pricing is a judgment made at a moment, with evidence, and it should be revisited as the evidence changes.

• Lot size, shape and whether it backs to a creek, a park or traffic
• School attendance zones that differ block to block
• Age and extent of renovation relative to nearby new construction
• Condition of roof, HVAC, plumbing, electrical and foundation
• Current inventory on your specific streets, not the whole city
• Recent pending sales, which show the market now rather than months ago

Homework a seller can do before calling anyone

Pull together what you know about the house. The year of the roof, the age of the air conditioning units, any foundation work and the engineer's report that went with it, permits for renovations, the survey from when you bought, and the list of improvements with rough dates. Buyers and their inspectors will ask about all of it, and sellers who have the answers ready look organized and trustworthy, which affects negotiation more than people think.

Walk your own house as a stranger would. Start at the curb. Look at the front door, the landscaping, the paint on the trim. Inside, notice what you have stopped seeing: the sticking door, the stained ceiling from a leak that was fixed years ago, the room that has become storage. Make two lists, one of things that are broken and one of things that are merely tired. Then look at what has sold within a few blocks in the last several months, and be honest about how your house compares in size, condition and lot. Not what it is asking; what it closed at.

Finally, think about your timeline and your next move. Whether you are buying first, selling first or doing both at once changes the strategy, and so does whether you need the proceeds to close on the next house. Those constraints should shape the plan before the sign goes in the yard.

When waiting is the right decision

Not every conversation I have with a homeowner ends with a listing. If the house needs a major repair that buyers will discount heavily, it can be worth doing the repair first, or at least getting bids so the discount is a known number rather than a buyer's fear. If your next home is not lined up and you cannot carry two mortgages, the sequencing matters more than the season. And sometimes the honest answer is that a particular street has three similar homes sitting, and yours will do better in a few months when they have cleared.

The time to call is when you are within six months of wanting to move, when you want a realistic number rather than a flattering one, or when you are weighing a renovation and want to know what it will return at sale. Earlier is better than later. A plan made with time is cheaper than one made in a hurry.

How I arrive at a price with a seller

I start by walking the house with you, inside and out, and listening to what you know about it. Then I build the comparison properly: homes that have closed recently on comparable streets, homes currently under contract, and the active competition a buyer would tour the same weekend as yours. For each one I adjust for lot, size, condition, year and the specific features buyers in this segment pay for. The result is a range, not a single number, and I show you how I got there so you can push back on any assumption.

Then we talk strategy. Pricing slightly under the market to create competition works in some conditions and backfires in others. Pricing at the top of the range leaves room to negotiate but risks sitting, and in these neighborhoods a listing that sits gets talked about. I will tell you what I would do with my own house in your position and why, and then it is your decision.

Once we agree on a price and a plan, the preparation starts: the repairs worth making, staging where it helps, professional photography and a marketing plan that reaches both the agents who work these neighborhoods and buyers relocating to Dallas. My background in corporate leadership shows up here. Every step has a date, you know what is happening next, and you hear from me before you have to ask.

• Walk the property together and gather its history
• Analyze closed, pending and active comparables with adjustments
• Present a price range with the reasoning behind it
• Agree on a pricing strategy for current conditions
• Prepare the house: repairs, staging, photography
• Market to the agents and buyers active in these specific neighborhoods

What affects your net, beyond the sale price

Sellers tend to focus on the top line, but the number that matters is what you walk away with. Repairs negotiated after inspection, concessions toward a buyer's closing costs, the agent commissions you agree to, title and closing fees, and any payoff on the existing mortgage all come out before the proceeds reach you. Carrying costs matter too; every month a house sits is a mortgage payment, taxes, insurance and utilities.

This is why a slightly lower price that sells cleanly in weeks can net more than a higher price that sits for months and then takes a reduction and an inspection credit. I lay out an estimated net for different scenarios so the decision is made on the real number. For questions about taxes on the sale, talk to your accountant; I will make sure you have the figures they need.

Choosing an agent for a neighborhood like this

Ask how many homes they have sold on streets like yours, not in Dallas generally. Ask them to walk you through how they priced a recent listing and what happened. Ask what they would fix before listing and what they would leave alone, because an agent who says fix everything is not thinking about your return. Ask how they will communicate and how often, and who handles the showings and the paperwork if they are away.

Then listen to the price they give you. The agent who names the highest number is not necessarily the one who will get it. A listing priced to win the appointment and reduced a month later costs you time and leverage. In my experience, the agents who do well in Preston Hollow and the Park Cities earn most of their business from past clients coming back, and that only happens when the first transaction was honest.

• A track record on comparable streets, with specifics
• A pricing explanation you can follow, not just a number
• Clear advice on what to repair and what to skip
• A communication rhythm set before the listing goes live
• Backup when the agent is unavailable

Where sales in these neighborhoods go wrong

Overpricing is the big one, and it is usually the seller and the agent agreeing to a hopeful number together. Buyers in these neighborhoods are well advised and they know what the comparables are. The second is skipping the pre-listing inspection or ignoring known issues, which then surface in the buyer's inspection with the leverage on the other side. The third is poor presentation: dark photos, a cluttered house, a listing that goes live before it is ready and spends its best week looking unfinished.

I also see sellers choose a buyer on price alone without weighing financing strength, contingencies and timing, then lose weeks when the deal falls through. And I see people sell without a plan for where they are going, which turns a strong negotiating position into a rushed one. All of these are avoidable with a few conversations before the sign goes up.

After you get in touch

We set a time to walk the house. I bring what I know about recent sales nearby, you bring the history of the home, and we spend an hour or so talking through condition, timing and what you want from the move. Within a few days you have a written analysis with a price range, a recommended strategy and a list of what I would do before listing, ranked by return.

From there the pace is yours. Some clients list within weeks; some take a season to prepare or to find the next house first, and I help with that search in Dallas as well. Either way you will know what is happening and when, and you will have a realistic number from the start rather than a flattering one you have to walk back later.

Questions people ask me