Oak Forest Price Trends
Oak Forest home prices were up 65% from 2010 to 2014.
If not familiar with Oak Forest homes, see my page on this neighborhood.
Oak Forest is very popular for several reasons:
- It is close-in and convenient
- It is a huge neighborhood with lots of sales
- A broad range of homes available
- The ranch style homes can be renovated rather inexpensively, or expanded
- New homes are being built all over, pushing up values
Oak Forest homes sales & prices for the last 5 years.
In the table below I wanted to show the trend in prices for the original homes…not skewed by the prices of the big new homes. So I excluded everything built recently.
Thus this table shows price trends for the original 1940’s-1950’s homes.
|Year||# Sold||Avg. Price||Avg. $/SF||LP/SP*||DOM**|
|* LP/SP = Ratio of List Price to Sales Price||**DOM = Days on Market|
Of the 251 homes sold in 2014, a little over half (130 homes) were at least 2 bath homes, the rest were 1 bath. The small 1 or 1.5 bath homes here are very popular here for first-time home buyers. They are great for remodeling too, typically adding a master suite.
In addition to the 251 resale home sales, there were 91 new or recent construction home sales. The little ranch style homes are often described as lot-value even though quite livable.
Want to Learn More about Oak Forest & neighboring Garden Oaks? See the following pages:
Tags: Oak Forest