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].
The number of homes sold in Timbergrove / Lazybrook declined in February. Only 6 homes sold in the popular neighborhood this past month. That’ s down considerably from February 2012, which saw 15 closings. Available inventory in this market continues to be an issue. Of the homes that sold in Timbergrove / Lazybrook in February, half of them sold in less than 28 days.
Inventory levels continue to be very low in Timbergrove / Lazybrook. There are are only 21 homes currently on the market, which equates to less than 1 and a half months of inventory. Six months of inventory is typically considered a balanced market. Four homes came on the market in February.
Year over year home prices in Timbergrove were up 3.15%. The average price sold for homes in Timbergrove was $316,796. If inventory levels continue at their current levels, prices could continue to rise in 2013.
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 Heights, the 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.