Oak Forest New Construction-Update 2012
Oak Forest New Construction is Booming.
January 2014 Update: There are later posts on Oak Forest.
There are two recent developments in Oak Forest new construction. When I last wrote about Oak Forest new homes there were 15 new homes for sale, and they were mostly in Sec 1 of Oak Forest (the SE corner of Oak Forest, below W 43rd St).
The market today has much expanded. There are 29 “active” homes, plus another 18 in various “pending” stages. These are no longer contained to a particular part of Oak Forest, but all over.
A trend that I welcome is that in addition to remodels of existing single story ranch homes, there are single-story new construction homes. There are 7 new single story Oak Forest homes active on the market or pending. These range from $399.9K to $532K. These average ~2392 SF in size and $465.4K in price. The higher price per SF is expected for smaller, single story homes.The one pictured here is 1306 Chamboard. It is a 2202 SF 4/2.5/2, priced at $399.9K. See
The 25 active 2-story new homes in Oak Forest range from $500K to $849.7K. Who would have ever believed there would be $800K homes in little Oak Forest? The average price is $686K for a 3860 SF house on an 8200 SF lot, or about $178/SF. Only a couple of these are complete; most are under construction.
The increase in costs year over year is, as always, from rising land costs. An Oak Forest tear-down now sells for $170,000-$200,000. Before the new construction started 7-8 years ago these were $80,000. But, $20/SF is still cheap compared to Heights lots starting at $30/SF.
Avg Price | Avg SF | Avg Lot Size | Avg $/SF | |
2-Story New Homes | $686,000 | 3863 | 8230 | $177.60 |
1-Story New Homes | $465,400 | 2392 | 7400 | $194.50 |
There are another 6-8 recent (4-5 years old) construction homes on the market. These are often the perfect house to buy because the landscaping has matured; window treatments are in place (a big expense on a new home); and all the repairs/bugs taken care of under the builder’s warranty.
Let me know if I can answer questions about Oak Forest and other close-in neighborhoods.
Want to Learn More about Oak Forest & neighboring Garden Oaks? See the following pages:
- Oak Forest Page with history, location, description of neighborhood and MLS Search.
- Garden Oaks Page with home search, history, description of this adjoining neighborhood.
- A page devoted to several Areas Around the Heights
- My Interactive Map of Heights Neighborhoods
Tags: Oak Forest