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 in Timbergrove Manor and Lazybrook continued strong sales activity in the month of July. 16 homes sold in July, which was up from last July’s 13 homes sold. Quality homes in Timbergrove continue to sell very quickly. Half of all homes sold in July sold in less than 31 days.
Inventory levels continue to remain 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 July, there were only 28 total listings on the market and only 17 new listings entered the market. Incredibly, current inventory levels stand at less than 2 months.
The average price for properties sold over the past 12 months (ending in July 2012) was $295,622. That’s almost unchanged from the previous 12 month period (ending July 2011). Generally, Timbergrove/Lazybrook, like most other inner loop area neighborhoods, has been increasing at a moderate pace since 2008.
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.