Oak Forest Homes-A Close-In North Side Neighborhood.
Most Oak Forest homes are one-story ranch style homes built in the 1950’s. These homes are wood frame or brick veneer, typically 3 bedrooms, 1 or 2 baths.
The Desirability of Oak Forest Homes have Gone Full Circle.
Neglected for decades, these smaller, affordable homes on nice lots have been appreciating rapidly in value for several years now. Several factors drive this Oak Forest price increase:
- Oak Forest homes offer a very convenient close-in location with easy access to downtown, the Galleria, shopping and restaurants. The adage of “location, location, location” is more true than ever with rising traffic congestion and fuel prices.
- A second factor in causing appreciation of Oak Forest homes is the enduring style of ranch homes and original quality of construction. This leads to lots of homes being remodeled. The hardwood floors are often still gorgeous today. The advent and popularity of wall-to-wall carpeting in the 1960’s and beyond helped protect the original wood floors. Telephone niches, odd little brick planters, and other little quirks are just as appealing today.
- Prices inside the loop are causing many first-time homebuyers to look at the areas just outside the 610 Loop. Prices are considerably lower and the lots are bigger. This helps Oak Forest, Garden Oaks and other near-north neighborhoods.
- A forth reason for appreciation of Oak Forest homes is a relatively new development in the area: new construction homes. The typical new construction new Oak Forest home is priced around $550,000 for 3300 SF. This activity is pushing prices of teardown homes to around $140K. This in turn pushes prices up for all homes.
Oak Forest is just north of Houston’s 610 N Loop.
It extends from Ella on the East, to Highway 290 on the West. It straddles W43rd St. Roughly, just above W34th St, to just South of Pinemont.
History of Oak Forest:
Oak Forest was established in 1946 by Oak Forest Realty Corporation.
Frank Sharp, who created several large-scale post-WWII neighborhoods, owned this company the most well known being Sharpstown.
This area adjoined Garden Oaks, which had bigger homes on huge lots.
The smaller scale of this new subdivision was more appropriate for returning WWII GI’s.
Prices of Resale Oak Forest Homes:
(Median Price As of 10/30/09)
An average updated 3 bedroom /1 Bath home w garage : $204,000 at ~1240 SF.
These range from $170,000 to $250,000.
An updated 3 bedroom /2 bath (or larger) home: $245,000 at ~1700 SF.
The range on these is $190,000 to $362,000.
New Construction Oak Forest Homes:
There is a huge boom in Oak Forest New Construction: These new homes are in the range of $550,000 for 3348 SF. The link to the above gives some info on this.