Oak Forest Prices of Resale Homes-3rd Q 2013
Learn about Oak Forest Homes here: history, prices, location, maps, more.
I recently showed the Prices of New Oak Forest Homes. This post will focus on resale homes, mostly ranch-style 1940’s and 1950’s homes.
Let’s start with land prices. What a builder will pay for a tear-down property (there are no vacant lots in Oak Forest, just little homes on big lots) sets the minimum prices for homes.
Homes listed as tear-downs sold for $200K to ~$300K. The average was $272K for 8117 SF lot, or ~$30.50/SF. Location is everything though, top dollar is being paid where most new homes are being built. (See previous post on new sales for a map).
The table below shows price ranges of Oak Forest resale (not new) homes. I excluded a couple of recent construction homes and those listed as tear-downs. Those homes in the table are thus range from very livable to stunning renovations. The average price for an Oak Forest resale home is ~$320,000. The lot sizes are generally 7200-7900 SF, though some are larger. Lot sizes are larger than nearby Houston Heights, but generally smaller than neighboring Garden Oaks.
|#Sold||$ Range||Avg. $||SF Range||Avg. SF||Avg $/SF||Lot Size||Avg.DOM*|
|19||$200K-$600K||$320.4K||988-3070 SF||2536 SF||$204/SF||7986 SF||33 Days|
As in all inner-loop and close-in neighborhoods, new homes are much larger (~4300 SF) and more expensive (~$700K) than the older homes original to the neighborhood.
*The column labeled DOM is Days on Market. The average was 33 days on market, but close to half sold in 10 days or less.
Notes: The home I showed above is not typical of Oak Forest homes, I chose it because it and another mid-century modern home recently sold for $200K. I love MCM homes. There are a few scattered throughout Oak Forest, Spring Branch, and nearby Timbergrove Manor.
Want to Learn More about Oak Forest & neighboring Garden Oaks? See the following pages:
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