Cypress: Current Update on the Real Estate Market

Cypress Real Estate Market Update

The Cypress real estate market is currently experiencing a moderate level of inventory, with a months supply of inventory at 2.96. This indicates that it would take approximately 2.96 months to sell all the current homes on the market if no new listings were added.

The 12-month change in months of inventory has increased by 27.59%, suggesting a slight increase in the number of homes available for sale compared to the previous year. This could be an indicator of a more balanced market, providing buyers with more options to choose from.

Homes are selling relatively quickly, with a median of 38 days on the market. This indicates that there is strong demand for homes in this market, potentially leading to competitive bidding situations and quick sales.

Sellers are achieving a high list to sold price percentage of 97.7%, indicating that homes are generally selling close to their asking price. This is a positive sign for sellers, as it suggests that they are able to realize a good return on their investment.

The median sold price in this market is $415,000, indicating that homes in this area are selling at a relatively high price point. This could be due to factors such as location, amenities, and market demand.

Takeaways for Buyers & Sellers

For Buyers: The increase in inventory means you have more options when searching for a home. However, with homes selling within 38 days on average, be prepared to act quickly and have your financing in place to stay competitive in this fast-moving market.

For Sellers: With homes selling at nearly 98% of their asking price, pricing your home correctly is key to attracting strong offers. Highlighting key features, staging effectively, and marketing strategically will help you maximize your return in this balanced market.

Final Thoughts

Overall, the current real estate market in Cypress remains balanced, with moderate inventory levels, strong demand, and high list-to-sold price percentages. Buyers and sellers alike should consider these metrics when making decisions in this market. If you're looking to buy or sell in Cypress, now is a great time to take advantage of these market conditions.

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