Community Impact Newspaper‘s annual Real Estate Guide includes a look at how the real estate market fared over this past year compared to the year before using several key metrics.
Real Estate Market at a glance
The Cy-Fair area consists of seven main ZIP codes—77040, 77064, 77065, 77070, 77095, 77429 and 77433.
Average Days on the Market
The average days on market measures how long it takes a home placed on the market to sell. Most Cy-Fair area ZIP codes saw a drop in the average days on market this past year, meaning homes have been selling faster.
The average days on market was shortest in the 77064 ZIP code and longest in the 77433 ZIP code in both timeframes. The greatest change from one year to the next was seen in the 77429 ZIP code, where the average days on market increased by more than 50%.
Number of Homes Sold
The total number of homes sold decreased in four of seven Cy-Fair area ZIP codes from June 2018-May 2019, compared to the same time frame one year earlier. However, the total number of homes sold across all seven ZIP codes combined increased by 30.
The largest drop was seen in the 77040 ZIP code, and the largest increase was seen in the 77070 ZIP code, where home sales increased by more than 70. The majority of homes continue to be sold in the 77429 and 77433 ZIP codes.
Average Home Sales Price
The average price of homes sold increased in all but two Cy-Fair ZIP codes from last year—77040 and 77065—although neither saw a significant drop. The biggest increase was seen in the 77070 ZIP code, which also saw the biggest increase in total homes sold.
The most expensive ZIP codes to buy a home are 77429 and 77433, which both saw increases in average home sale price this past year.
View more of our 2019 Real Estate Edition coverage.