For many years I have identified Greenway Parks as the most popular and attractive Dallas neighborhood with young partners of venture capital and hedge fund firms and financially successful vibrant residents. What has caused this already expensive neighborhood to have another surge in its desirability and demand for its homes?
The demand for Greenway Parks continues as a result of the success of the Greenway Park Conservation District and the thoughtful renovation taking place in the neighborhood. However, the rapid escalation in demand is based in great part on the dramatic change in Shannon Estates, the neighborhood west of Inwood. Several years ago the area was feared and now it has new and renovated homes selling for more than some of the homes in Greenway Parks. Once a buyer understands the neighborhood west of Inwood is surging, Greenway Parks seems undervalued. This is the reason many of the home purchases in Greenway Parks are made by Greenway Parks residents who already live in the neighborhood. History has shown that once one has lived in Greenway Parks, it is hard to leave the neighborhood.
One of the reasons I have sold the most homes in Greenway Parks recently is because I have introduced and explained the aesthetic and economic benefits of Greenway Parks to an audience greater than those who already live in the neighborhood or who have friends in Greenway Parks. In the last six months I represented the owners of the architecturally significant Hidell and Decker-designed midcentury modern home that was beautifully renovated by Mil Bodron and Svend Fruit. During this same period I also represented three buyers who purchased architect designed homes in Greenway Parks.
My clients quickly agreed with my assessment that Greenway Park is an incredible value for the many attributes of the neighborhood, location, and individual sites of the homes. Over the years I have sold some of the great properties in Greenway Parks, including the home designed by Fooshee and Cheek on the largest lot in Greenway Parks, and the best home designed by prominent architect Robert Meckfessel. However, I have never seen the interest in Greenway Parks as intense as it is now.
The real estate market is strong across Dallas and will remain strong for some time. Greenway Parks has the potential to appreciate even more than many of the other finest neighborhoods of Dallas.
One of the things I enjoy most as a real estate broker is providing insights on the small, desirable neighborhoods that help buyers understand and feel confident in their purchase of a home in a delightful neighborhood like Greenway Parks. I also understand that it is difficult for a Greenway Parks homeowner to find another neighborhood that embodies the characteristics of Greenway Parks. How I do this is worthy of a whole other post. While I am most associated with architecturally significant homes, my passion has always been neighborhoods and thus my affection for Greenway Parks.