Houston is a booming market, but available homes are struggling to match demand, helping Cy-Fair emerge as a premier destination.

Around the country, markets are normalizing, blurring the lines of favor to keep buyers and sellers on an even keel. However, in Houston, where inventory is as low as sales are high, the contours of advantage are drawn clearly to the benefit of sellers. For at least one neighborhood, that may soon change.

In northwest Houston, specifically the Cy-Fair area, buyers are finding new hope for securing premium properties at affordable prices without the hassle of battling through a thicket of multiple offers. In January, inventory in Cy-Fair was 3.9 months, down from 5.1 months a year prior, according to the Community Impact Newspaper. However, while levels suffered throughout 2014, they remain healthy relative to the greater Houston area, which stands at a 2.6-months supply, and things are only expected to improve.

“2014 was a record year, we think, because of the vitality of the local economy, Nancy Furst, HAR chair, told the news source. “We think sales are going to normalize (this year), but we’re still going to have a good market.”

More to Offer

In some Cy-Fair areas, in fact, inventory levels have spiked, particularly in area code 77433, where available homes now account for a 6-months supply, up from five in January 2014 and above the national average of 4.4 months.

For much of Houston, an off-kilter inventory to demand ratio has warped the market into something of a cash cow for savvy sellers, who can list a home and confidently expect to have a quick offer, or even multiple offers, within weeks or even days. This persisting interest in homebuying has been driven largely by economic surges, particularly in the energy sector. However, as we’ve extensively covered in the past few months, plummeting oil prices have led to widespread job cuts, which is likely to pull the reins on strong demand in the near future.

But as the whole of Houston ebbs slowly towards stability, Cy-Fair, a neighborhood offering premium properties at more affordable prices than The Woodlands and Katy, is poised to flourish. Why, exactly? As Community Impact puts it, “the Cy-Fair Independent School District, master-planned communities and the forthcoming Grand Parkway expansion.”

Cy-Fair, Houston’s Future Premier Neighborhood

Bret Nordquist, a local Realtor with Register Real Estate Advisors, told Community Impact that he’s been specifically excited about the parkway expansion.

“I am a Cypress resident, and I’ve been looking forward to it since they started talking about it,” he said. “There will be a tremendous amount of growth that comes with that. Once you’ve got the ability to get in and out quickly, all the world follows.”

Where Cy-Fair sits, Nordquist added, it’s difficult for residents to travel to The Woodlands, one of the area’s most popular locations, but the new expansion promises a direct pipeline to the neighborhood, plus access to the ExxonMobil campus, which should help to attract additional Exxon employees.

To add to an attractive school district and the more widespread availability of desirable homes, largely thanks to the area’s master-planned communities, Cy-Fair home prices are considerably cheaper than elsewhere in Texas’ largest metro.

According to Community Impact, average Cy-Fair home price in January was approximately $210,000, while the Greater Houston area’s average was closer to $280,000.

As the larger metro area works it’s way back to a balance, Cy-Fair has an opportunity to emerge as one of the city’s premier markets. Only time will tell if the area can maintain its momentum, but the cards are in its favor.