Aug 23, 2016
Cy-Fair real estate market stable—still
CYPRESS-FAIRBANKS - Halfway through 2016, the real estate market in Cy-Fair continues to remain stable despite the ongoing oil and gas downturn. The average time a home spends on the market has risen,...
CYPRESS-FAIRBANKS - Halfway through 2016, the real estate market in Cy-Fair continues to remain stable despite the ongoing oil and gas downturn.
The average time a home spends on the market has risen, but experts consider the trend a sign of the more sustainable market pace.
The median price of homes sold in June reached a new high in the Greater Houston area, while the average price of homes sold reached its second highest level ever, according to data from Houston Area Realtors.
Home prices in Cy-Fair are up as well, according to local real estate agents.
Cy-Fair is still considered a seller’s market with an inventory rate of 3.7, meaning it would take 3.7 months for all homes currently on the market to sell, real estate agent Simon Davidson.
See the full story at Community Impact/Cy-Fair.
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