Timbergrove / Lazybrook Market Update – October 2012

Norhill Realty November 7, 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

With 12 units sold in the month of October, Timbergrove/Lazybrook had a pretty good month.  That number is slightly up from the 7 units that sold in October 2011.

Active Listings

The number of options in Timbergrove/Lazybrook continues to decline. Down from a 2012 high of 38 units available in July, there are currently only 17 homes available.  There were 10 units that came available in October.  7 of those homes are already under contract, which is a testament to the popularity of the neighborhood and the scarcity of the homes available.  As a whole, inventory levels have dropped just over 1 month of available inventory.  Many of our clients are monitoring the market very closely and we have seen a couple of multiple offer situations over the past month.  If your looking to sell your home, this might be a good time to consider it.

Home Prices

Despite tightened home inventory, average home prices are little changed from the previous year.  The average price for properties sold over the past 12 months (ending in August 2012) was $300,684, which makes this a very affordable inner loop option.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 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.

TIMBERGROVE REAL ESTATE

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