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Oak Forest Home Sales - Rich Martin Homes : Rich Martin Homes

Oak Forest Home Sales

Filed in Oak Forest Sales & Price Trends by on January 30, 2013

Oak Forest Home Sales-Dec 2012

Oak Forest Home - 4130 Lou Anne Ln

New Oak Forest Home - by InTown Homes
Resale home sales are up, new home sales are up, home prices are up,  inventory is down. It’s the same story everywhere inside the loop and all other areas just outside the loop that I cover. See my Page  about the Oak Forest Area.

Fourth quarter Oak Forest home sales were 78 sales (October –December, 2012) compared to 47 in the same quarter of 2011. Not bad at all. 14 of these homes were new construction.

Oak Forest resale prices ranged from the low $90’s up to $400K. The $90K homes were obviously lot value, but some lot value homes were priced up to $200K. Cute 3/2’s can be bought for the low $200’s.

New home sold prices ranged from $429K to $769K.

4th Q Sales, 2012

Resale Sold Prices

New Construction Prices

Total Sales

New Homes

Range

Average $

Average $/SF

$ Range

Average $

 Average $/SF

78

14

$92K-$400K

$214K for 1360 SF

~$180+/SF for nice home

$429K – $769K

$550K for 2900 SF

~$190/SF

Current Inventory of Oak Forest homes:

Inventory is low (60 homes; 23 of them new construction). This is definitely a Seller’s market. February will bring out a lot more home sellers though.

I still suffer from sticker-shock on Oak Forest new home prices. 5 years ago I could not imagine a $900K home in Oak Forest, but one is currently on the market for that price.

The stats above are dull and boring. They are NOT to be used for pricing a house; either for sale or making an offer. Every house and every location is different. Use these numbers for comparing neighborhoods, comparing trends, etc.

A couple of homes I like that are currently on the market are shown below.

4130 Lou Anne Ln is $220K for a nicely updated 3/1.5/2. It is rare to find a 2 car garage in these older homes.

InTown homes normally does groups of homes, but has the new free-standing Oak Forest home at 1427 Woodcrest. 4/3.5/2, 3757 SF for $699.9K.
More recent posts & pages can be found below:
Want to Learn More about Oak Forest & neighboring Garden Oaks? See the following pages:

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