Composed of two townships within the borders of Dallas just north of the downtown area, the Park Cities boast many of the most prestigious homes in North Texas, where families flock to take advantage of exemplary schools and highly regarded fire and police protection.

"Location, location, location," says Realtor Nora Ling Lane. "Highland Park and University Park are like a small town in the middle of a big city! Lots of trees, five minutes from downtown."

Lane advises, "The spring market is heating up. The supply of homes in Park Cities is up, but this area is still one of the most desired locations in Dallas. With interest rates still very attractive, sales should be up. Much of the activity is from out of town buyers. It is still a great time to buy because sellers are pricing their homes more realistically. Buyers should definitely take advantage of this slower market and great interest rates!

Says Realtor Sue Krider, "From charming cottages to the finest mansions in Dallas, this area is renowned for the value of its real estate. The Park Cities is comprised of an exemplary school system. Conveniently located near downtown, major airports, shopping, and the arts, this area has it all."

"Spring is here," says Krider, "bringing great opportunities for buyers. Interest rates remain low, with a great supply of homes to select from.

For the Highland Park, University Park, Devonshire and Bluffview areas (Area 25), listed below are the most recent home sales statistics released by the North Texas Real Estate Information System:

Number of Home Sales Closed February 2003 - 33
Number of Home Sales Closed February 2002 - 74

Average Price February 2003 - $889,968
Average Price February 2002 - $568,326

Pending Sales February 2003 - 67
Pending Sales February 2002 - 86

Active Listings February 2003 - 502
Active Listings February 2002 - 453

Year to Date # of Sales February 2003 - 81
Year to Date # of Sales February 2002 - 124

YTD Avg. Sales Price February 2003 - $799,942
YTD Avg. Sales Price February 2002 - $612,690

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Published: April 4, 2003

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