New Listings, Pending Listings, and Day on Market in Cypress, TX Charts
We released a new web page this past weekend to track new and pending sales over time in the Cypress, TX area along with the Days on Market for pending sales.
This was done in response to people asking how the Covid-19 quarantine is affecting real estate in the Cypress area. Per these charts, the weekly listing and pending sales numbers are down for last week compared to last year. However, the average DOM is also considerably down.
This tells me that the demand is still there, but we the inventory is down. This is because people are still wanting a new home before the summer, but a bunch of would-be sellers are reluctant to list right now due to the Coronavirus and not wanting a bunch of strangers walking through their house.
April is typically the strongest month for home sales in the Cypress area. It will be interesting to see how this plays out.