- The Cy-Fair real estate market is remaining stable, with five of its seven ZIP codes reporting year-over-year median home price increases in July.
- The Cypress real estate market is showing less of a lean toward sellers in recent weeks, according to Altos Research's Market Action Index.
- Inventory is on the rise in Cypress, with 1,115 properties available as of September 9.
Residents around Houston know the strength and resilience of its market well, and despite declining oil prices, the market is holding on tight. According to Cy-Fair Real Estate and a recently released infographic, home prices in the area are up 5.5 percent from a year prior as of July.
In five out of seven of the Cypress-Fairbanks ZIP codes, excluding 77064 and 77065, the median price tag rose in July 2016 over the previous year. Pulling data from the Houston Area Realtors, conditions are faring pretty well despite the sour economy in this part of town, the report says.
Cypress real estate market
The Cypress real estate market more recently has been trending downward, which is a typical indication of the summer real estate season’s end. According to Altos Research, a California-based real estate data company, the median single-family home price in Cypress as of September 9 was reported at $331,880.
Since hitting its peak in April, the weighted 90-day average of the median single-family home price has been trending down, but it remains higher than where it was reported last year. Another downward trend is reported in the market conditions that judge supply and demand.
Altos’ Market Action Index (MAI) is a measurement that uses 30 as the neutral value to determine whether trends are going up in favor of sellers or down in favor of buyers. The MAI has been trending downward since the end of June, slipping down a few points to 32.27.
While the MAI is still in the hands of sellers, pointing to a strong demand in the market, conditions are considerably lower than they were last year as of September 9. A year ago, the MAI was just about 35.
Days on market in Cypress has been reported at 97 days in the first full week of September, which has started to find some balance after months of downward motion.
Inventory is trending upwards in Cypress, where there are 1,115 properties currently available. The inventory here has slowly been increasing since April, when homes for sale dipped to around 930.