Lakewood Forest News and Market Updates

Lakewood Forest January 2008 Market Update

We taken a break from our monthly Lakewood Forest market reports, but decided it was time to re-visit this project. We're going to begin with a fresh start, and begin monitoring the sold history beginning with January 2008.

This month, the average sales price of homes sold was $210,536 among a 12 homes, which looks to be about average for Lakewood Forest. You'll see the this neighborhood averages about 10-15 closings a month, so the turnover rate is quite attractive to keeping prices up.

The average price per square foot of sold homes topped out right at $59.18, which is dramatically lower than what we usually see (it's usually in the low 70's). This can mean one of two things:

• Prices are falling.
• One particular type of home is selling more than another.

The latter option seems to be the case. Larger homes in Lakewood Forest, more particular ones with more than 3500 square feet, sold last month. It's normal for larger homes to demand a less money per square feet in Lakewood Forest.

We have a tie this month in the most popular street for January, so we'll just name both as the winners. Cypresswood Drive and Moorcreek Drive were among the most popular selling streets in January, each selling two homes a piece.

Most Expensive Property

The most expensive property sold award for January will go to 11934 Cypresswood Drive, which sold for $378,230 (or $68.68 per square foot). This gorgeous home featured a 1 acre lot, huge pool with a spa and gazebo, and actually ended up being a foreclosure that was snatched up in 47 days.

Statistics

To pull the information we present to you on a monthly basis, we research our listing database to get key statistic and details to help the homeowners of Lakewood Forest Real Estate get the latest news about the selling trends of their neighborhood. These statistics are provided below complementary of the MyHomeHouston Team.