As it has over the past several months and couple of years, Oak Forest continues to transform into one of Houston’s premier neighborhoods. Prices continue to move higher as buyer demand remains high and builders struggle to keep up. With more restaurants like Berryhill’s coming into the neighborhood, buyer demand could continue to push prices even further.
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Sales Activity
There were 56 homes sold in June of 2013. That’s up 12% from the same period in 2013 and the flat from May. Of the homes sold, half of all properties were sold in less than 12 days. That’s over twice as fast as June of 2013 when half of all homes sold in less than 27 days.
Active Listings
Currently, there are 94 homes on the market. That pretty similar to the number available in May. There were 50 new listings that came available in June. Of those new listings only 18! are still available. All of the other homes are already under contract.
Home Prices
For the 12 month period ending in June of 2013, the average home price was $290,669. That’s up 13% from the same period in 2012. For new construction, the average home price for the 12 month period ending in June was $584,373. That’s up 19% from the same period in 2012.
Located in the near Northwest side of Houston, the area of Oak Forest is positioned just outside Houston’s 610 Loop. This near town location provides great access to Houston’s two largest economic centers, Downtown Houston and Galleria/Uptown. The area has seen a significant level of new development in recent years. Throughout the area, entire streets have been transformed with newly built luxury homes. This development has been spurred primarily by the performance of Oak Forest elementary, which has become one of the premier elementary schools in the city. For more information about Oak Forest, visit our Oak Forest neighborhood information page for the latest news and available listings.
