The eastside pond features a center fountain that adds to the beauty of Washington Park.
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The impact of city parks on property values is well-documented and generally positive.  You will often see sellers use their proximity to a park as a selling point in their property description. City parks are an asset for the whole city:

Proximity to Green Spaces

Homes located near parks and green spaces often see an increase in property values due to the enhanced aesthetic appeal and access to recreational areas.

Studies suggest that properties within 500 meters of a well-maintained park can see an increase in value ranging from 5% to 20%.

Improved Quality of Life

Parks contribute to a higher quality of life by offering spaces for exercise, relaxation, and social activities, making nearby homes more attractive to potential buyers.

The presence of parks often fosters a sense of community, which can be a significant selling point for families and individuals seeking a strong neighborhood connection.

Environmental Benefits

Parks contribute to lower levels of air and noise pollution, which can make nearby areas more desirable and lead to higher property values. They help manage stormwater and reduce the urban heat island effect, making nearby homes more comfortable and appealing, especially in areas prone to extreme weather.

Good For The Local Economy

Parks can attract visitors and tourists, boosting local businesses and services, which in turn increases the demand for nearby properties. In some cases, parks are part of urban renewal projects, leading to the revitalization of entire neighborhoods and a corresponding rise in property values.

Social and Health Benefits

Proximity to parks encourages outdoor activities like walking, jogging, and sports, which can improve the health of residents. This perceived health benefit can be a strong incentive for homebuyers. Well-maintained parks and active community spaces can lead to a reduction in crime rates in the surrounding area, making the neighborhood more desirable and boosting property values.

Aesthetic and Cultural Value

Properties with views of parks or green spaces often command higher prices due to the visual appeal. Parks that host community events, art installations, or historical landmarks can add cultural value to the area, further increasing property desirability.

Long-term Investment

Homes near parks tend to retain or even increase in value over time, providing a stable and often appreciating asset for homeowners. Properties near parks often show greater resilience during economic downturns, maintaining value better than those in less desirable locations.

Future Development Potential

Areas near parks are often prime locations for future development projects, which can further increase property values due to the anticipated improvements in infrastructure and services.

Overall, the presence of city parks generally enhances the attractiveness and value of surrounding properties and their neigbborhoods.  Small and large parks are a key consideration in urban planning and real estate investment.  We are fortunate that as our city grows, the Springfield Park’s District has done excellent job maintaining and building new parks.

There are 34 parks listed on the Springfield Park District’s website.

Visit the website at:
https://springfieldparks.org

Carpenter Park – #1 Carpenter Park Trail

Centennial Park – 5751 Bunker Hill Road

Comer Cox Park – 301 Martin Luther King Dr

Dreamland Park – 2300 Taylor Avenue

Duncan Park – 500 N. MacArthur

Eisenhower Park – 2351 East Cornell

Enos Park – 1000 North 7th

Fairview Park – 1901 North 19th Street

Gehrmann Park – 1000 N 2nd Street

Gietl Park – 1900 Stanhope Road

Gurgens Park – Bissell Drive

Hobbs Park – 2851 Fox Bridge Road

Iles Park – 2000 S 6th Street

Indian Hills Park – 2536 Miami Trail #2500

Jaycee Park – 2400 E Monroe

Jefferson Park – 300 North Oxford

Kennedy Park – 401 Walnut Valley Drive

Kiwanis Park – 3050 Stanton Drive

Lake Victoria Park – 3055 Normandy Road

Lanphier Park – 1415 North Grand Avenue East

Lawless Park – 1500 N 11th Street

Lincoln Park – 1601 North 5th Street

Lindbergh Park – 2419 Lindbergh Boulevard

Patrick J. Cadigan Park – 2300 Colony Park

Paul A. Barker Park – 2008 Barnard Drive

Riverside Park – 4700 Peoria Road

Rotary Park – 4501 West Iles Avenue

Schlitt Park – 100 Avon Drive

Southwind Park – 4965 S 2nd Street

Stuart Park – 1800 Winch Lane

Timberbrooke Park – 2003 West Washington Street

Vredenburgh Park – 100 Crusaders Road

Washington Park – 1501 South Grand West

Westchester Park – Westchester Blvd and Danbury Drive