Timbergrove / Lazybrook Market Update – April 2013

Norhill Realty May 8, 2013

Below you will find the most recent data on home sales and prices for the Timbergrove and Lazybrook neighborhoods in Houston, Texas. If you are interested in receiving monthly Houston and Timbergrove/Lazybrook real estate news updates, then sign up for our RSS feed to receive instant updates. For more information about Timbergrove/Lazybrook and to view past market updates, check out our Timbergrove/Lazybrook neighborhood information page. Or email us at [email protected].

Sales Activity

From the previous period in 2012, total home sales activity in Timbergrove / Lazybrook almost doubled in the month of April.  There were a total of 31 transactions close in April 2013 vs. 16 in April 2012.  Half of all sales in April were under contract in less than 8 days. That’s the quickest activity of all the neighborhoods we cover.  In April 2012, half of all sales were under contract in 33 days.  Things are obviously moving very quickly in Timbergrove.

Active Listings

Unfortunately for home shoppers, there is not much to choose from in Timbergrove and Lazybrook.  Currently, there are only 15 homes active and available on the market. In April, 18 homes entered the market.  Only 3 of those listings are still available. The other 15 are either under contract or sold.  Again, the speed at which this market is moving is extraordinary.

Home Prices

Along with the rate of home sales, prices are moving up as well in Timbergrove. In the 12 month period ending in April, prices are up 4.41% to $327076.  A quick review of our previous market updates will show that this rate of growth is accelerating.  We have been predicting for months that tight inventory levels and high demand could eventually lead to higher prices.  Higher prices are here.  If inventory levels continue to remain tight, prices may continue to go up.  Quick sales and higher prices are certainly working into seller’s favor.Timbergrove-home

Located just west of Houston Heights, Timbergrove and Lazybrook are two of the hottest neighborhoods for young families in Houston’s Inner Loop.  Downtown Houston and the Uptown/Galleria area are a short drive away.  Furthermore, Timbergrove and Lazybrook are conveniently located close to restaurants and bars in Houston Heightsthe Uptown/Galleria area, and the Washington/Rice Military Corridor.  For prospective buyers that are seeking close proximity to Houston’s great parks, Timbergrove and Lazybrook is home to 11th street Park, Jaycee Park, and the White Oak bayou bike trail.  Memorial Park and its great jogging trail is also nearby.  Timbergrove and Lazybrook is also home to a couple of our agents.

SELLING A HOME IN TIMBERGROVE

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