Home Price Survey: Oak Forest, Garden Oaks and Nearby

Filed in Oak Forest Sales & Price Trends by on June 29, 2016

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
In Subdivision
Median SF
Median $/SF
% Change
% Change
31119622114 SF$129/SF+5.7%+64%
Forest Pines51419711451 SF$105/SF+17%+4%
Forest West60419701827SF$85/SF+18%+11%
Shepherd Park
72819652334 SF$164/SF+20%+24%
Mangum Manor41219591577 SF$118/SF+21%+18%
Shepherd Forest91719551295 SF$151/SF+34%+18%
Oak Forest540919521358 SF$190/SF+14%+38%
Independence Heights 1861946962 SF$38/SF+150%+332%
Garden Oaks140919421690 SF$212/SF+25%+24%
Oak Forest & Nearby Neighborhoods

Neighborhoods Surrounding Oak Forest

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:

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