Located just north of downtown Dallas, "Uptown" is a designated public improvement district with its own management, funds for ongoing renovations, and one-of-a-kind amenities such as the Katy Trail, a jogging trail fashioned from an unused railroad track.
One of the few places in the city that can compete with the suburbs to lure homebuyers, Uptown is also within an easy drive of Dallas-Fort Worth International Airport, downtown Dallas, and surrounding areas, with a popular trolley and rail system to help residents ditch their cars at home. The area appeals to homebuyers of all kinds including families with kids who are within walking distance to three of the city's arts magnet schools, singles who drive the reverberating fashion and nightlife, and empty nesters drawn back to the inner city to support the nearby Arts District.
It's the hip place to be in Dallas, say local Realtors.
"It's the hot spot of Dallas for buyers seeking a great location with great amenities," says Realtor Sue Krider . "This area is located adjacent to downtown, with access to all major freeways. Townhomes and condominiums are featured in this area, attracting people wanting a low maintenance, cosmopolitan lifestyle. You're within walking distance to the West Village and Knox-Henderson shopping and dining, and the Katy Trail."
About the market, Krider suggests, "It was a tremendous year for the Uptown area with condo and townhome sales increasing 12 percent over 2003 sales, while average sales prices increased by 5 percent overall. This area of Dallas has a huge inventory, with new inventory on the market and under construction everyday. However, buyers and sellers should note that many of the new construction properties on the market are not listed in the MLS system, and are moving briskly. This new inventory has increased the number of listings available, giving buyers many options to choose from -- from first-time buyers in the lower-priced market, to luxury buyers in the high-end market.
"Word on the street is that single-family home sales started off January slower than last year, but condo and townhome sales have increased. A testament to the strength of this market is the number of developments in the works. Exciting things continue to happen in this area and are projected to continue for quite some time!"
Says Realtor Patrick Iommi , "Location, location, location has never been more important than in Uptown with excellent schools and excellent family life. The proximity to DFW, Dallas, Fort Worth, Irving, Lewisville, and other communities contribute to making this one of the most desirable locations to raise a family. A transient professional community allows for expedited sales with lots of incoming buyers. It's also a kid's haven with activities galore that leave the parents with plenty of time to create their own environment."
About the Dallas market overall, Iommi says, "Well the good news is, that we're starting to turn the corner... homes are getting more viewings and starting to move albeit slowly. Surprisingly, we are also seeing some of the higher end properties start to garner attention and sales are on the increase. Having a Realtor offering you more than just a sign in the yard is very important especially now, as inventory starts to increase and proper staging of the home results in having the competitive edge. With Springtime around the corner, we should see just how the market plays out. The area continues to attract new residents and 2005 may be an exciting year stimulating growth before the spring period."
