Greenwood Forest is a 1960s and 1970s neighborhood near downtown Cary, on Ellynn Drive, Ralph Drive, Warren Avenue and Wilshire Drive. Original homes from 1961, 1970 and 1971 are on the market alongside new construction from 2026 — the same rebuild dynamic playing out across old Cary.
Another Old Cary Neighborhood Turning Over
Cary's pre-1980 housing stock is small and almost all of it sits near downtown. That scarcity, plus a downtown that has been genuinely rebuilt over the last decade, is what makes teardowns work here — the land supports a house worth considerably more than the original standing on it.
The practical consequence for a buyer is the one that applies to every neighborhood mid-transition: an original home and a new build on the same street are not comparable properties. The original trades much closer to land value; the replacement sells at a multiple of it.
Where It Sits Relative to the Others
Greenwood Forest is one of several downtown-Cary neighborhoods in this position. Russell Hills is further along with a wider gap between original and new; Coronado Village is earlier. If you are shopping old Cary, they are one search.
A Name Used Twice
A second Greenwood Forest exists in Durham at a much lower price point. This page covers the Cary neighborhood, in 27511.
Buying in Greenwood Forest With a Team That Builds
On a 1960s Cary lot the question is whether you are buying a house or a parcel. Cary's dimensional standards are not Raleigh's, and we read them against the specific lot before anyone signs.
Related reading: how Triangle lot rules actually work, how negotiation works in a North Carolina contract, and what the due diligence period really covers.
