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Garden Oaks Sales prices - Rich Martin Homes : Rich Martin Homes

Garden Oaks Sales prices

Filed in Garden Oaks Homes for Sale by on February 1, 2013

Garden Oaks Sales-4Q 2012

Garden Oaks had 26 home sales in 4th Quarter 2012 compared to 15 in the same quarter of 2011. Neighboring Oak Forest also saw the same big jump.

Of these 26 sales 2 were new construction.

4th Q Sales, 2012

Resale Sold Prices

New Construction Prices

Total Sales

New Homes

$ Range

Average $

Average $/SF

$ Range

Average $

Average $/SF

26

2

$200’s – $582K

~$366K for 2100 SF

~$174/SF

$579K & $650K

~$563K for 3230 SF

~$174/SF

Making sense out of data is complicated. To make these numbers mean something, I excluded the “Tear-down” properties that sold from $130 K to $200K from the resale info above. These excluded low-end prices reflect land values. The land selling for ~$130k backed up to the 610 loop. The ones selling at $200K+ were in nice locations.

It also doesn’t make a lot of sense to have an “average” price for new homes, when only 2 sold, but the $174/SF matches previous data too, so should be okay.
Garden Oaks Home-702 W 43rd
Garden Oaks Home-319 W 30th St
The interesting thing about new construction Oak Forest homes and resale home prices is that the price per SF are similar. The new homes however, are much larger. You can’t pay $200K for a lot, then put a tiny house on it. Very seldom do you find a new bungalow on expensive land. A great thing about Garden Oaks and neighboring Oak Forest is that generally lots cannot be subdivided. In the most of Houston Heights you can subdivide lots and put 2 home where one stood previously. This means less land cost and allows smaller homes to be built, but putting homes closer together.

Current home inventory is low now, only 11 homes on the market. Part of this is the time of year. Winter is not the big house-selling season anywhere. However, people are snapping up nice homes, so that is keeping inventory low also.

The current inventory runs from $249K for a cute 3/1 to $939K for a 4675 SF house built in 2006. Two of these homes are shown below. The first one is 319 W 30th St: 4/2/4 1776 SF for $295K.
The second house seems like a bargain to me: 702 W 43rd St, 4675 SF home with a pool on a one-acre lot. Stunning pool and interior.

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:

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