Timbergrove Market Report for May 2016

Mark Brawley June 3, 2016

 

Despite the slowdown in the real estate market in the first half of 2016, Timbergrove and Lazybrook home prices have proved to be quite resilient. Year over year, Timbergrove and Lazybrook average home price has risen 3.6% to $464,157. Relatively low inventory levels have helped to prop up prices. Currently, there are only 69 total homes available in the Timbergrove and Lazybrook market and only 29 of those are the classic ranch homes that are original to the neighborhood. All of this is good news for home sellers and homeowners alike.

Looking at Timbergrove and Lazybrook from the greater Houston economic perspective, oil prices have bounced back from their January lows and have risen 85% since that early part of the year. If oil prices hold and energy industry layoffs are curtailed, we could see an increase in real estate demand in months to come, which will hopefully push prices even higher.

Timbergrove Market Report

Average Sales PriceMedian Days on MarketNumber of Properties on Market
$464,157 (3.6%)18 days61 Properties

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