Timbergrove / Lazybrook Market Update – May 2013

Norhill Realty June 12, 2013

Home buyers can’t get enough of Timbergrove and the proof is in the prices.  Despite tight inventories, prices had remained relatively steady with only moderate growth in late 2012 and Q1 2013.  With so few homes available and so much demand, it was inevitable that prices would really start to boom.  And they did.  May saw a large number of homes fly off the shelves quickly and for record prices. Check out the details below.

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SALES ACTIVITY
22 homes sold in Timbergrove in the month of May.  Although down from April 2013, total sales are up 22% from the same period in 2012.  Of the homes that sold in May, half of all homes were under contract in less than 30 days.

MLS#Closed DateAddressBed RoomsBath rooms# GaragePoolLot SqFtBldg SqFtYearList Price
801986295/31/20131831 WILLOWMOSS CT31/12N7,2151,1571959$215,000
918195965/31/20131802 NAUTS CT32/01N8,5801,2181958$260,000
346814965/16/20132614 HAVERHILL DR22/00N7,0401,3231960$265,000
186899445/17/20133615 HEMPSTEAD VILLA DR32/12N2,7541,8922007$275,000
294248265/3/20136511 AZALEA PARK32/12N2,3202,4122006$310,000
471762845/13/20131107 Grovewood Ln21/01N7,2001,2621951$310,000
73663645/24/20136215 WYNNWOOD LN32/02N8,1901,4891955$319,500
110362845/31/20136542 LINDYANN LN32/02N8,7751,9531955$325,000
425247245/23/20136206 ABINGTON WA32/01N9,1001,6801953$329,999
435385245/31/20133289 Maxroy33/12N01,9822013$330,000
433381585/17/20132206 WILLOWBY DR32/02N7,5901,8081969$345,000
806218045/13/20136210 ABINGTON WA32/01N9,1001,9441946$370,000
463625495/20/20136746 CINDY LN43/02N8,7103,0161960$389,000
463000445/1/20132607 W T C JESTER BL32/03N10,9602,3141969$389,900
159034745/17/20133526 WINDMILL ELM ST42/12N4,8563,7362007$398,000
739830455/28/20133527 URBAN WOODS TR53/12N4,0004,0602008$399,000
953373345/30/20131811 WATERCREST DR43/02N7,2152,1841955$499,999
529483545/2/20131818 Willowmoss42/12N7,2002,400$509,900
192854055/31/20136534 CINDY LN32/02N8,4502,1131957$535,000
486282185/14/20132003 WILLOWMOSS COURT32/13N9,0003,2731973$549,000
805278275/21/20136107 QUEENSWOOD LN43/01Y19,4852,8581953$560,000
384649925/17/2013923 SHIRKMERE RD43/22Y8,4423,6182012$849,000
ACTIVE LISTINGS

Finding a home in Timbergrove continues to be a daunting task.  There are only 6!! homes in all of Timbergrove / Lazybrook that are currently active on the market.  Only 3 of those listings are new in May.  In total, 25 listings came on the market in May, but only 3 are still active on the market.  The others are either sold or under contract.  It really is a great time to be a Timbergrove seller and home owner.  Timbergrove-Graph2

HOME PRICES

The law of supply and demand has a funny way of actually working.  The average home price during the 12 month period ending in May 2013 was $337,653.  That’s up 9% from the same period ending in May of 2012.  If your a regular follower of these market updates, we had predicted for quite some time that prices would eventually move up if tight inventories continued.  Well we are here.  Book it.  Supply and demand is a thing.Timbergrove-home

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.

TOP REAL ESTATE AGENTS IN TIMBERGROVE

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