Rich Martin Homes > Oak Forest Homes for Sale > Oak Forest Sales & Price Trends

Oak Forest Sales & Price Trends

The table below shows Oak Forest Resale Home Prices (for sold homes).

Oak Forest Prices 4th Q – Resale Homes
Description Price Range SF Lot Size Price/SF DOM*
1 Bath Homes $200-$355K 1100-1400 SF 6720-8400 SF $155-$295/SF 38
Avg. $262K 1244 SF 7370 SF $212/SF
2 Bath Homes $221-$545K 1400-2100 SF 7100-11,000 SF $150-$280/SF 37
Avg. $374K 1710 SF 7800 SF $220/SF
* DOM = Days on Mkt.

New Construction Homes in Oak Forest are much larger, much more expensive. Oak Forest and nearby Garden Oaks lots cannot be subdivided. Whereas in parts of the Heights and other areas a house might be torn down and two new homes built on the old lot. Not here. If a builder pays $250K for a lot, his new home has to sell for at least 3X that amount. Thus new homes typically start at ~$800K.

A brief table of Prices for new homes in Oak Forest is below:

Oak Forest New Construction 4th Q 2014
Description $ Range Size-SF Lot-SF $/SF DOM** LP/SP***
New $568K-$962K 2300-4600 SF 7100-8400 SF $200-$240/SF N/A 0.99
Homes Avg. $817K Avg. 3754 SF Avg. 7800 SF Avg. $218/SF
**DOM=Days on Market ***LP/SP = ratio of list price to sales price
Meaningless for new homes

Oak Forest Land Prices

Oak Forest land prices, like everything else nearby have gone up considerably in the last few years. The rise in new construction is what pushes everything up. Builders will pay quite a bit for a lot or a tear-down to build a big new expensive home in this popular neighborhood.
Compare Oak Forest to a similar neighborhood, nearby Lindale Park. New construction there is non-existent, and land prices are half those of Oak Forest