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Garden Oaks Prices-4th Q 2013 - Rich Martin Homes : Rich Martin Homes

Garden Oaks Prices-4th Q 2013

Filed in Garden Oaks Homes for Sale by on January 29, 2014

 

Garden Oaks Prices-End of Year

See my Page on Garden Oaks. It gives info on the neighborhood, history, location, types of homes and more. It also has links to recent posts..

Of course, the story is the same. Sales are strong, prices are up. The table below shows Garden Oaks prices at the end of the year.
This table has two exclusions: I excluded the obvious lot-value properties; and I excluded the newer homes, those built after 2000. Thus this table is for mostly updated 1940′ and 1950’s Garden Oaks homes.

#Sold $ Range Avg. $ SF Range Avg. SF Avg $/SF Lot Size Avg.DOM*
16 $305K-$745K $424K 1236-2539 SF 1793 SF $237/SF 13,392 SF 30 Days
Garden Oaks Prices

Garden Oaks Home-Sold 4thQ

Disclaimer: The purpose of the table is not to tell what to pay for a Garden Oaks home. There are way too many variables for that. It simply gives you a rough idea of Garden Oaks prices. It would be good for instance to use it to compare neighborhoods. Example, the prices for the adjoining Neighborhood of Oak Forest  are lower, and the average lot and house size are also lower.

Now for the exclusions. There were a half dozen homes sold as lot-value. These ranged from $200K to $305K, with most in the middle of this. This gives you an idea of current land prices, but there are huge variables of course in location and lot size.

I also separated the newer homes from the table above. There were 5 homes sold that were built between 2004 and 2013. These ranged from$426,000 for a 2638 SF 3/2.5 to 1,000,000 for a new 3345 SF 4/3.5. Garden Oaks just does not have the new construction that Oak Forest does.

*Note: DOM (Days on Market) averaged 30 days for this quarter, but a fourth of the homes sold within a week. This indicates the strength of the market. A year ago the DOM was closer to 90 days.

Garden Oaks is a unique area’ it was to be “the next River Oaks” when it was first built. If you like the area but you can’t find the home you want try the adjoining  Oak Forest, or inside the loop, Timbergrove Manor/Lazybrook. These are similar neighborhoods…See the following pages for details:

Comparing homes in these older neighborhoods can be confusing call or Contact Me for advice….Rich

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