Timbergrove / Lazybrook Market Update – August 2012

Norhill Realty August 31, 2012

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

After several months of elevated sales activity in Timbergrove and Lazybrook, only 14 homes sold in the month of August.  This is down from 21 units sold in August 2011.    See the Active Listing numbers for reasons why.  There just aren’t many options for buyer’s to choose from.

Active Listings

Astonishingly, there are only 18 homes currently on the market in Timbergrove/Lazybrook.  This is down from 28 total listings last month.  Furthermore, 9 of the homes currently on the market are brand new in the month of August.  Of the 18 homes that came on the market in the month of August, 9 of them are already sold or under contract.  Inventory levels continue to fall with just over 1 month of inventory active on the market.  This is extremely low.  We have several clients that are closely monitoring the market in Timbergrove waiting for new options.  If you are looking to sell your home, this is a really a good time to do it.

Home Prices

The average price for properties sold over the past 12 months (ending in August 2012) was $315,066.  That’s up 3% from the previous 12 month period (ending August 2011).  Generally, Timbergrove/Lazybrook, like most other inner loop area neighborhoods, has been increasing at a moderate pace since 2008.Timbergrove-home-blog-optimized5

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.

TIMBERGROVE REAL ESTATE

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