Sunday, July 8, 2012

How Much are Lots in Highland Park, University Park and Greenway Parks?

Just west of Greenway Parks and Highland Park, this lot at 6506 Robin Rd. is 212' wide

and large enough to accommodate three 10,000'+ lots (zoned R10). $498K. More info

By Troy Corman,

In just the past few weeks, the Dallas Morning News has reported robust home sales and an increased demand for new homes. As a result, both home prices and lot prices are beginning to tick up as lending and mortgage interest rates tick down. While builders can go out to the burbs to find cheap land, it's a different story in highly sought-after urban neighborhoods. Below, we'll take a look at the average asking prices for three upscale neighborhoods just north of downtown Dallas.

First is Greenway Parks, known for it's serene setting, large trees and green belts that dissect the neighborhood. Only one Greenway Parks lot is listed for sale currently and it's priced at $795,000 for .641 acres. When compared to University Park and Highland Park, it's a dirt-cheap at $28.47 a square foot.

Next up is University Park, where we found sixteen University Park lots listed at an average price of $4,478,118 per acre, or $102.80 a square foot. University Park is located just north of Highland Park, and is the home of Southern Methodist University, and the future home of the George W. Bush Library.

And finally, the cream of the crop comes in a hefty $162.26 a square foot, as we found a mere thirteen Highland Park lots listed for sale. There was only one Highland Park lot listed below $1 Million, while two properties are asking north of $15 mil. If you'd like to buy one of these, I'd be more than happy to help!

Troy Corman is the founder of t2 Real Estate LLC, a Dallas real estate firm providing specialized knowledge with a hands-on approach. Specialties include residential real estate brokerage, land and acreage, and commercial real estate services. Contact us today at 214.827.1200 if you need to sell, buy or get your DFW property leased.