Timbergrove / Lazybrook Market Update – January 2014

Norhill Realty February 19, 2014

As one would expect, the number of sales in Timbergrove / Lazybrook has slowed a bit in January. The winter months are never a real robust time for home sales.  Despite a reduced number of sales, home are still moving pretty quick in the neighborhood and home prices are still clicking up.  The median days on market for homes sold in January was 7 and the average home price in the neighborhood has increased 20% year over year. All-in-all the Timbergrove market is still performing very well.  Check out the data below for more insight.

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SALES ACTIVITY

In what is typically a slow month for home sale closing, there were only 5 homes sold in the month of January.  That’s down from the 7 closing that occurred in January 2013.   Half of all home sold in January were under contract in 7 days or less, which is the same days on market as we saw in the same period in 2013.

MLS #Closing dateAddressBedsFull BathsHalf BathsGarage #PoolBuilding SFLot SizeYear BuiltList Price
3242106801/13/2014919 Worthshire St.4312Y344277702004749,000
4515671701/06/20146607 GROVEWOOD LN4202N201286161958399,900
6753622501/13/20146530 LINDYANN LN3302N233487751958546,500
5246154801/17/20146419 GROVEWOOD3201N139184501955365,000
5233345801/16/20141822 WIDDICOMB CT3202N178272151963439,500

ACTIVE LISTINGS

There are currently 12 homes on the market in Timbergrove and Lazbrook.  That’s down from 18 active listings this time last year.  There were 14 new listings that came available in January. Of those new listings, 10 are already under contract.Timbergrove-Graph-January-2014

HOME PRICES

For the 12 month period ending in January 2014, prices rose to $377,096 for Timbergrove / Lazybrook. That’s up 20% from the same period ending in January 2013, which was $314,938.

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.

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