Hi neighbor,
Today I will be sharing with you our perspective on the local real estate market here in Cypress, Texas, specifically a market update for the neighborhood of 77389. Whether you are looking to buy, sell, or just keep an eye on the market, we look forward to being your resource.
What is happening in the real estate market in 77389?
We currently have 38 homes pending, with 12 homes sold in the last two weeks, averaging a sale price of $204 a square foot. Twelve homes sold over the asking price, with one home selling 1% above the listing price.
Compared to the two weeks prior: The number of homes sold is still the same. The average sales price in the neighborhood is $701,813. Every home is different, with different features, so don’t forget to ask us for your annual equity review if you are curious about your personal home. You can request your free home evaluation here or email us here.
I know the interest rates rising has been one deterrent from some buyers purchasing right now, but that isn’t your ideal buyer anyways! The most desirable homes in the area are still selling the first weekend or first week they hit the market (a really good coming soon campaign, like we do at Jo & Co. allows you to sell faster, for more money).
Check out the graphic below for a larger overview of the real estate market for the last two weeks in 77389.
Insight From Jo
Hello again, friends!
I hope your week is off to a great start. I wanted to pull back the curtain and share what I am seeing right now in the greater Houston real estate landscape — the good, the steady, and what is shifting. Whether you are thinking of buying, selling, or just keeping an eye on things, awareness is power.
What is trending this week (and what it means)
Inventory is holding at more comfortable levels.
We are not in the days of wild price jumps or frantic bidding wars everywhere. There is a little more breathing room. For buyers, that means more time to look and make decisions without feeling pushed into a corner. For sellers, it means preparation and presentation matter more than ever.
Some softening in value in select segments, but not everywhere.
Across Greater Houston, average home values are still showing modest declines in some areas (for example, the average value in Houston is about $262K, down roughly 3.2% year over year).
That said, homes in top condition and in desirable neighborhoods are still getting strong interest and holding value. The “softening” is mostly showing up in homes that need updates or are in less sought-after locations.
Mortgage rates remain in the mid 6% range.
They have eased from previous peaks but are not dropping overnight. For buyers, that means budgeting and readiness are still key. For sellers, understanding that buyers are payment-conscious helps set realistic expectations.
The fall season rhythm is in full swing. 
This time of year usually brings more measured activity. You will see fewer bidding wars, more price reductions, and buyers who are serious rather than just browsing. Homes are taking a bit longer to sell, and more listings are seeing adjustments.
If you are thinking about a move, this “slower but steady” environment can work in your favor.
What this means for buyers
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If you have been waiting for a better moment, this might be it. There is less pressure, more choice, and a better chance to negotiate.
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The best homes in great condition and locations still draw competition. Being pre-approved, ready to move, and clear on your must-haves versus nice-to-haves will put you ahead.
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Do not overlook homes that need a little love. Some of the discount is built in if you are willing to update and budget for improvements.
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With rates still elevated, focus on your monthly payment comfort zone. The “perfect” house is not perfect if the payment keeps you up at night.
What this means for sellers
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Presentation and pricing are top priority. In a more balanced market, homes that feel fresh, clean, and move-in ready attract more attention.
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If your home is in a strong location and in good condition, you can still secure a great outcome. If it needs work, you may face more competition or need to price more strategically.
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Now is a smart time to prep: declutter, refresh key spaces like the kitchen and bathrooms, get professional photos, and highlight what truly sets your home apart.
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Timing still matters. Fall often brings serious buyers who want to move before the end of the year. Listing once you and your home are ready can position you well.
My two cents
Here is how I would describe this week’s market: we are in a sweet spot between a seller-dominated frenzy and a fully buyer-controlled market. The panic and speed of the last few years have faded. What is left is opportunity for thoughtful buyers and prepared sellers.
If you are a buyer, this week is your nudge to shift from watching to taking action with the right guidance.
If you are a seller, this week is your reminder that condition, location, and pricing will shape your success more than ever.
This market is about strategy over speed. The clients I see winning are the ones who know what they want, lean on a trusted adviser (that is where I come in), and are ready to act when the right opportunity appears.
What is happening in the real estate market nationally?
| MORTGAGE RATES CURRENTLY TRENDING | THIS WEEK'S POTENTIAL VOLATILITY |
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Notable News
- Job and housing stresses are caught in a vicious loop. Read Now >>
- Mortgage rates drop again: Should clients buy now? Read Now >>
- Zillow forecasts home-values to rise 1.2% and rent pressures to build: What it means. Read Now >>
Market Recap
- Mortgage application submissions fell 5.2% during the week ending 11/14, with the Refinance Index down 7% and the seasonally adjusted Purchase Index slipping 2%.
- Continuing jobless claims were at 1,974,000 during the week ending 11/08, an increase of 28,000 from the week before, while initial jobless claims totaled 220,000 during the week ending 11/15, a decline of 8,000 from the previous week — with both readings coming in below their expected levels.
- The NAHB Housing Market Index for November 2025 rose slightly to 38, up from 37 in October and one point above expectations, though still solidly below the 50 mark that signals positive builder sentiment.
- Existing home sales were at an annualized pace of 4.10 million in October, rising 1.2% from the previous month and coming in above the expected 4.05 million, marking a modest pickup in resale activity.
- The Employment Situation Report for September showed nonfarm payrolls rising 119,000, with private payrolls increasing 97,000, government payrolls adding 22,000 for the month, and manufacturing payrolls shedding 6,000. Average hourly earnings rose 0.2% and were up 3.8% year-over-year, while average weekly hours held steady at 34.2. The participation rate came in at 62.4%, and the unemployment rate ticked up to 4.4%, rounding out a report that reflected stronger-than-expected job growth alongside a still-softening labor market backdrop.
Review of Last Week
CHOPPY… It was a turbulent week on Wall Street, as traders took profits and feared the Fed was done with rate cuts this year. Then the tide turned Friday, but not enough to avoid all three major indexes posting losses for the week.
What ignited the rally were comments from the New York Fed President that he still sees room for a further rate cut “in the near term.” This was encouraging enough to offset a low-ish read for University of Michigan Consumer Sentiment.
September saw modest growth in payrolls and a mere uptick in the unemployment rate, supporting the low hiring, low firing labor market story that's giving the Fed more reason to shave rates in December.
The week ended with the Dow down 1.9%, to 46,245; the S&P 500 also down 1.9%, to 6,603 and the Nasdaq down 2.7%, to 22,273.
Bonds edged ahead overall, the 30-Year UMBS 5.0% UP 1 basis point, to 99.09. Freddie Mac reported the national average 30-year fixed mortgage rate showed little movement last week. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.
DID YOU KNOW… New data on virtual tours: the most-viewed room isn’t the kitchen, it’s the bathroom; buyers decide if they like a home after just 8 photos; only 10% of visitors take a 3D tour, but those who do, spend an impressive 2-5 minutes on it!
Market Forecast
NEW AND PENDING HOME SALES, HOME PRICES, RETAIL SALES, INFLATION… The October Pending Home Sales measure of signed contracts on existing homes is predicted to stay flat. Economists expect both the September Case-Shiller and FHFA indexes to report home prices rising at a slower pace. Retail Sales should keep gaining in September. There are no forecasts for October New Home Sales and PCE Prices, the Fed's favorite inflation gauge.
U.S. financial markets will be closed Thursday, November 27, for Thanksgiving Day. The day after Thanksgiving, or Black Friday, November 28, stock markets will close early at 1 p.m., bond markets at 2 p.m.
Summary
Sales of existing homes scored a modest gain in October, reaching an eight-month high. Buyers are seeing more options—inventory is up almost 11% the past year—while the median price rose just 2%.
Spending on residential construction in August came in ahead of July, but a little below where it was a year ago. It was good to see the National Association of Home Builders sentiment index edge up in November.
A national real estate database reports the number of homesellers in October exceeded the number of buyers by almost 37%, a record, and the largest difference between the two groups since at least 2013.
Can we sell yours?
So if you are in need of a listing agent, we would love the opportunity to see your home and meet you of course. My husband, Edward, and I, look forward to being the brokerage and team for you! You can reach out to us via email: [email protected] & [email protected] or telephone: 832-493-6685.
Read more:
If you are curious ‘How to get more money for your home when listing it for sale', check out this blog post.
I hope you have found this blog post super helpful. If there is anything else we can do for you, including helping you sell (or buy) a home, I would be honored to assist. I hope you have a great day/evening. Cheers, E + J.
We are so happy you found our little corner of the interwebs. We look forward to y'all reaching out to us. We love to answer questions and welcome them. Recently we created some local maps, and you can download those by clicking the image/link above. Below, you will find an index of some very helpful information to assist you in learning more about the Houston suburbs. If you are relocating to our neck of the woods, we hope you reach out to us, because we would love to help you by being your local realtor and friend. Thoughtfully written for you. Hugs, Jo.
We are Waiting for You
If you are looking to relocate to the Houston Area, we would love to meet you, and hear your story. Below you will find all of my contact information, as well as some homes for sale in the area. We truly look forward to hearing from you! P.S. Don't forget to check out our YouTube Channel!
If you are overwhelmed..
Now if you are feeling overwhelmed on where you should plant your roots, I would love to talk to you. You can schedule a call with me by click this link: http://byjoandco.com/call or just send us an email: [email protected]. There are some amazing communities all over the Houston suburbs. In this post, https://search.byjoandco.com/blog/best-neighborhoods-in-houston/, I deep dive into all the different suburbs/neighborhoods that you might want to consider, and why. There are many resources here, so please reach out if you are curious what to look at next! Thank you for trusting us.
What next?!
• Navigate our Blog: https://byjoandco.com/categories-to-help-you-navigate-the-blog/
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• Download our Where to Live in Houston Texas ebook! http://byjoandco.com/wheretoliveebook.
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