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Cypress Real Estate Update: What buyers and sellers need to know this Summer
If you’re thinking about buying or selling a home in Cypress, it’s important to have a clear picture of what’s happening in our local market right now. In May, across all price ranges, Cypress area listings averaged just about two showings per week. That slower showing activity is a strong indicator that homes are staying on the market longer and that buyers often have more room to negotiate. We’re no longer in the frenzied, multiple-offer environment of a few years ago — instead, we’re seeing a market that rewards patience and smart strategy.
To give you a little more context, resale homes that are currently under contract — meaning they have accepted offers but haven’t yet closed — have been averaging 85 days on the market and are pending around $180 per square foot. However, when you look at the homes that actually closed in the last 60 days, the average sold price comes in at about $172 per square foot. That’s about a 4.4% difference, showing that buyers are often negotiating prices down from the original contract amount to the final closing table. It’s a clear sign that while homes are selling, buyers are using market conditions to their advantage during inspections and final negotiations.
For sellers, it’s important to understand that pricing right from the start matters more than ever. Buyers are cautious, and overpriced homes are sitting — sometimes without even getting offers. Homes that are priced well and presented well (think clean, updated, and move-in ready) are still selling, but it often takes more time. Be prepared for longer days on market and potential negotiations on price or repairs. Flexibility is key to getting to the closing table.
For buyers, this market offers opportunity. With fewer showings and longer days on market, you’re less likely to find yourself in a bidding war. You have space to negotiate on price, repairs, and in some cases, even a contingency! However, don’t mistake a slower market for a weak one — homes that are well-priced and in desirable neighborhoods are still moving steadily. If you find something you love, it’s smart to make a strong, reasonable offer rather than waiting and risking someone else scooping it up.
If you’d like a deeper look at what’s happening in your specific neighborhood or price range, I’d love to be a resource for you. You can visit my website at movewithmestayer.com to explore more local market insights, and while you’re there, be sure to sign up for my newsletter. Each week, I share quick, helpful tips about the Cypress real estate market, homeownership advice, and updates that will keep you in the know. This is a great tool whether you’re planning a move soon or just staying prepared for the future.
Source: Move With Mestayer Properties
