Green door photo courtesy of Pixabay
Guest post by Miriam Bornstein of Zillow
Buying a home is a major decision that takes time, patience and lots of research. When beginning your home search, potential homebuyers should start by evaluating which communities have a healthy real estate market and then hunt for properties in neighborhoods that are attractive to their lifestyle. To determine where buyers are searching for homes in Dallas, consider these three trending neighborhoods and their recent home value estimates.
Located just north of downtown in Central Dallas, Oak Lawn is filled with a plethora of new high rise developments, condos and apartments, luring in recent graduates who crave a tight-knit community with close access to big-city amenities. With a median home value of $273,400 this neighborhood is popular among recent graduates looking to settle down their roots and establish their professional careers. Last year, home values went up by 21 percent, and are continued to rise by another 7.9 percent this year. The Rosewood Mansion on Turtle Creek, the Oak Lawn Halloween Block Party and Lee Park, a popular venue for seasonal tastings and mixer events, are among the popular attractions in this neighborhood.
If you’re in pursuit of a more suburban lifestyle, look no further than Far North. With a median home value of $323,900, Far North is twice as expensive as the median list prices in the greater city of Dallas at $134,200. While home values are pricier, Far North is a suburban mecca for families looking to get the most bang for their buck thanks to the plethora of single-family homes with larger lots and larger yards. Residents also have a wider selection of schools to choose from due to Far North’s proximity to the Richardson and Plano school districts. With several nearby parks, two country clubs and multiple community events year-round, Far North has become an increasingly popular place to live.
The M Streets offers a thriving community located within walking distance to some of Dallas’ best dining and entertainment options. Residents enjoy the M Streets small-town feel with big-city attractions close at hand, exclaiming that it’s easy to fall in love with the neighborhood’s charming Tudor cottages and oak and pine tree-lined streets. Southern Methodist University is under a 10-minute drive away, making public transportation a breeze, and public attractions, such as Meadows Museum of Art and Barr Outdoor Pool, nearby entertainment options. For those looking to buy a home in East Dallas, the median home value in the M Streets is $333,900 with prices predicted to rise another 7.3 percent this year.
When exploring options for a future home purchase, central and eastern Dallas are two areas worth checking out. Search for available properties on Zillow or investigate other popular Dallas neighborhoods.