Chronicle Annual Home Price Survey
The Houston Chronicle does a yearly Home Price Survey where they list hundreds of neighborhoods and look at their price appreciation over the last year and last 5 years. Home owners look at these tables to compare their neighborhoods to others.
Home buyers this info as tool (though not an exact one) to look at neighborhoods where they are considering buying.
I selected some of these neighborhoods and put them into a single table; Oak Forest, Garden Oaks and a few smaller surrounding areas.
Home Price Trends: Oak Forest, Garden Oaks, More
|Subdivision||# of Homes |
|Median SF||Median $/SF|
|Forest Pines||514||1971||1451 SF||$105/SF||+17%||+4%|
|Shepherd Park |
|Mangum Manor||412||1959||1577 SF||$118/SF||+21%||+18%|
|Shepherd Forest||917||1955||1295 SF||$151/SF||+34%||+18%|
|Oak Forest||5409||1952||1358 SF||$190/SF||+14%||+38%|
|Independence Heights||186||1946||962 SF||$38/SF||+150%||+332%|
|Garden Oaks||1409||1942||1690 SF||$212/SF||+25%||+24%|
Use this data just for generalities only. These values are great for little homogeneous subdivisions built in the last couple of decades. For these you can compare prices year after year and (hopefully) see prices appreciate.
The neighborhoods here are different though. These are old neighborhoods with a huge range of home values. These homes range from “lot value” homes, to beautifully remodeled old homes and much larger new construction homes. So, higher average prices may in some cases be caused by a lot of big new homes replacing ratty little homes. An increase in prices may not be due entirely to appreciation, but simply a lot of big new homes being sold.
I would use the table more to gain insight into subdivisions: the number of homes in the area (i.e. there are a LOT of homes in Oak Forest), average age, average price, etc. The price/SF is relative too since it is a combination of new, old, remodeled.
One area that will raise eyebrows again is Independence Heights. This is an area where you couldn’t give away the lots a few years ago. It is now a hot area for speculation. Lots were $10K a couple of years ago and are now $40K. New construction is slowly, carefully being done now.
If you are not familiar with these Near North neighborhoods, see my web pages below:
- Oak Forest Page with history, location, description of neighborhood and MLS Search.
- Garden Oaks Page with home search, history, description of this adjoining neighborhood.
- Timbergrove Manor/Lazybrook Homes are are 1940’s – 1950’s neighborhoods
- A page devoted to several Areas Around the Heights
- My Interactive Map of Heights Neighborhoods