Timbergrove / Lazybrook Market Update – March 2012

Norhill Realty April 2, 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

Based on the number of homes sold and the number of homes to go pending, March was a very promising month.  17 homes closed sale in the month of March and there were 15 homes that went Option Pending (see our Home-buyers guide for information regarding of the real estate transaction).  The average days on market for homes sold in March was 71 days.

Active Listings

Inventory remains low in Timbergrove/Lazybrook, which is great news for potential home sellers.  When inventory is low (i.e. supply), and demand is elevated, home sellers usually see higher sales prices (i.e. a seller’s market).  At the close of the month, there were 39 total listings on the market and 25 new listings came active on the market in the month of March.

Home Prices

The average price for properties sold over the past 12 months (ending in March 2012) was $296,902.  That’s up 2% from the previous 12 month period (ending March 2011).  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 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.

TIMBERGROVE HOMES FOR SALE

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