Preston Hollow and Greenway Parks offer a choice between land with room to negotiate and a protected setting with fixed rules. Preston Hollow single-family homes are selling below list price with 5.4 months of supply, so a buyer there can push on price and build big.

Greenway Parks trades that freedom for a conservation-district streetscape and shared greenbelts that limit what any owner, including you, can change. Preston Hollow is a large North Dallas neighborhood bordered on the south by the city of University Park, where owners have wide freedom to rebuild. Greenway Parks is a much smaller 156-acre neighborhood laid out around shared greenbelt parks. Preston Hollow single-family prices slipped 1.9% year over year, which tells you prices are flat to soft rather than running away from buyers.

Key takeaway

If you want land, room to build, and room to negotiate on price, start with Preston Hollow. Single-family homes there have 5.4 months of supply, indicating a buyer-leaning market. If you prefer to buy into a smaller setting built around shared greenbelts and can accept conservation-district limits on exterior changes, Greenway Parks is the alternative to tour.

Who this guide is for

You’re shopping for a single-family home in north-central Dallas and deciding whether Preston Hollow’s larger lots and room to negotiate or Greenway Parks’ rule-protected greenbelt setting fits the house you want to own.

Preston Hollow homes and prices

The traditional boundaries of Preston Hollow run from Midway Road to Hillcrest Avenue, and Northwest Highway to Royal Lane. Land sets this neighborhood apart from others in Dallas, as the zoning keeps lots large. The housing mix is older estate homes alongside a steady stream of new custom builds on original lots. Buyers evaluating these property types can review the pros and cons of living in Preston Hollow.

Single-family homes recently sold for a median of $2,399,601 and $544 per square foot. Buyers are paying for land and new construction, so the price per foot varies widely depending on lot size and the age of the structure. The neighborhood also has a separate, much smaller condo market for buyers with different budgets.

The entry price for a single-family house is steep, and the freedom to build works both ways. A neighbor can replace the house next door with something much larger at any time.

Greenway Parks homes and prices

Greenway Parks was platted in 1927 by architect David R. Williams as one of the earliest garden-plan automobile suburbs in Texas. Homes front shared greenbelt parks rather than conventional streets, and the neighborhood features 23 acres of parklands and open spaces that are privately and commonly owned by the homeowner’s association. The association maintains eight greenways extending east-west between the streets.

Ask the association for current dues and what they cover before budgeting for a purchase. Because published data does not break out Greenway Parks figures separately, ask your agent for the last 12 months of closed single-family sales to understand current pricing.

Inventory is small in this 156-acre area. What you give up is flexibility: the right house may simply not come up when you’re ready, and the conservation district limits what you can change once you own it.

Where buyers have negotiating room

Preston Hollow single-family homes sold at a median 96.3% of their list price over the 90 days ending September 30, 2026. That ratio gives buyers real room to push back. For illustration only: a Preston Hollow house listed at $2.5 million that sells at that median ratio would close near $2,407,500, about $92,500 under list.

Supply is above the level usually treated as balanced, so sellers are competing for buyers. Condo buyers have even more room on price and terms, with 10 months of supply, though that comes with a slower resale timeline later.

Greenway Parks doesn’t have comparable published data available. Ask your agent for the last 12 months of Greenway Parks closed sales with list and sale prices, then work out the ratio yourself. One caveat: room to negotiate on price doesn’t mean flexibility everywhere. Well-priced houses on prime lots still sell quickly.

Renovation and building rules in each neighborhood

Greenway Parks was established as City of Dallas Conservation District No. 10 in 2003. The city ordinance lays out specific building and renovation standards to preserve the neighborhood’s architectural character, regulating exterior changes, additions, demolition, setbacks, and materials. Before making an offer in Greenway Parks with a renovation plan, read the district standards and ask the city whether your planned change needs review.

Greenway Parks: conservation district review costs and limits

You can’t build whatever house you want in Greenway Parks. Neither can any neighbor, which means the setting you buy is largely the setting you keep. The practical cost is that review adds time and cost to projects.

Preston Hollow: zoning and deed restrictions

Preston Hollow falls under general City of Dallas zoning, though individual subdivisions may carry their own deed restrictions. Ask the title company for deed restrictions on any specific lot. You can build big here, and Preston Hollow streetscapes can shift lot by lot as a result.

Location and getting around

Greenway Parks is bounded by the Dallas North Tollway on the east, Mockingbird Lane on the south, and Inwood Road on the west, sitting about four miles north of downtown Dallas. Preston Hollow spreads out further north, bounded generally by Midway Road, Northwest Highway, Hillcrest Avenue, and Royal Lane.

Greenway Parks sits closer in, so trips toward the urban core are shorter. How long a Preston Hollow commute takes depends entirely on which part of the neighborhood you buy in. Drive your commute from each area at the times you’d travel. Neither neighborhood is built for car-free errands, so check your own routes at rush hour before you decide.

Property taxes, schools and safety

Both neighborhoods sit inside the City of Dallas and Dallas ISD, so they share the same base taxing units and school district. School boundaries vary by street, so confirm any address through the Dallas ISD attendance zone boundary maps. For crime data, search the City of Dallas ‘Dallas OpenData’ portal for police incidents by address or beat, using the same time window for both areas.

How to choose between Preston Hollow and Greenway Parks

Start with your renovation plans. If you want to add on, tear down, or build new within a few years, read the building rules section first, then look harder at Preston Hollow. If you’d accept a review process for exterior changes in exchange for a streetscape your neighbors can’t disrupt, Greenway Parks fits better.

Then look at price room. If negotiating below list price matters to your budget, the data points toward Preston Hollow single-family homes. If your budget is well under $1 million, focus on Preston Hollow condos, as single-family homes in either neighborhood are unlikely to fit.

Shortlist by your renovation plans first and price room second. The rules can’t be negotiated; the price can. If you need closed-sale comparisons for both neighborhoods, Bale Real Estate Group can pull them.

At a glance

Preston Hollow single-family median sale price: $2,399,601, down 1.9% year over year (90 days ending Sept. 30, 2026; 47 sales)
Preston Hollow single-family median price per square foot: $544 (90 days ending Sept. 30, 2026)
Preston Hollow single-family median days on market: 51 (90 days ending Sept. 30, 2026)
Preston Hollow single-family sale-to-list ratio: 96.3%, with 13% of homes sold above list (90 days ending Sept. 30, 2026)
Preston Hollow single-family months of supply: 5.4, with 82 homes in inventory (90 days ending Sept. 30, 2026)
Preston Hollow condo median sale price: $316,500, up 11.1% year over year (90 days ending Sept. 30, 2026; based on only 18 condo sales, so treat the change with caution)
Preston Hollow condo median price per square foot: $253; median days on market: 80; sale-to-list ratio: 95.5%; 5.5% sold above list (90 days ending Sept. 30, 2026; 18 sales)
Preston Hollow condo months of supply: 10, with 60 condos in inventory (90 days ending Sept. 30, 2026; 18 sales)
Preston Hollow all homes: median sale price $1,981,945, down 0.9% year over year; 6.7 months of supply; 142 in inventory (90 days ending Sept. 30, 2026; 65 sales)
Greenway Parks: not reported in published data. Ask for the neighborhood’s closed single-family sales from the last 12 months before comparing prices.

Preston Hollow vs Greenway Parks FAQs

Are Preston Hollow and Greenway Parks part of Highland Park?

No, both neighborhoods lie within the City of Dallas. Highland Park is a separate, independent incorporated municipality entirely surrounded by the City of Dallas, which means the City of Dallas provides municipal services to both Preston Hollow and Greenway Parks.

Is Preston Hollow or Greenway Parks a gated community?

No, neither is a private gated community as a whole, though Preston Hollow has pockets of private streets. Under the Dallas Development Code, private streets must be constructed to public right-of-way standards, and an HOA must be responsible for their maintenance and lighting. Confirm gate or private-street status and any related dues on the specific listing.

What county are Preston Hollow and Greenway Parks in?

Both neighborhoods are located in Dallas County. The Dallas Central Appraisal District handles property valuations for homes in both areas.

How far are Preston Hollow and Greenway Parks from downtown Dallas?

Greenway Parks is located approximately four miles north of downtown Dallas. Preston Hollow sits further north, roughly six to ten miles from downtown, though the exact distance varies by where in the neighborhood you start.

Do Preston Hollow and Greenway Parks have the same property tax rate?

Yes, they share the same basic taxing units. The City of Dallas general tax rate is 0.704700 per $100 of taxable value, and Dallas ISD is 0.993835 per $100. Your actual tax bill will differ mainly because of the appraised value of the specific property.

Where can I compare crime data for Preston Hollow and Greenway Parks?

The City of Dallas ‘Dallas OpenData’ portal is the place to start. It hosts a ‘Police Incidents’ dataset provided by the Dallas Police Department, updated daily. You can filter by address or beat over the same date range for both neighborhoods.

Preston Hollow, TX vs Greenway Parks: Prices, lots, and building rules compared (2026)