Cypress home market gets 25% speedier

Posted on by Listify Me

The housing market in Cypress — with one third of its listings being distressed properties — sped up 25% in two weeks.

Every two weeks, Steve Thomas of ReportsOnHousing.com publishes a study of the supply of local homes for sale. Here’s what the latest report — as of March 1 — details about Cypress …



  • 82 residences listed in brokers’ MLS system with 66 new deals opening in the past 30 days.
  • By Thomas’s math, this community has a “market time” (months in would take to sell all inventory at current pace of new escrows) of 1.24 months vs. 1.65 months found two weeks earlier vs. 3.38 months seen a year earlier. Countywide, latest market time was 2.02 months vs. 3.90 months a year ago.
  • So, homes in this community sell — in theory — in 39% less time than the countywide pace.
  • Of the homes listed for sale in this community, 29 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 35.4% of supply of homes for sale vs. 30.4% countywide.
  • Homes for sale in Cypress represent 1.1% of Orange County inventory — and 1.3% of all the distressed homes listed for sale in Orange County. New escrows here are 1.9% of all Orange County’s new pending sales.

Compare these trends to countywide patterns:

  • Cities with highest level of distressed properties among their listings? Portola Hills was tops — 100.0% — followed by Stanton at 63.6% of listings and Rancho Santa Marg. at 58.3% of listings.
  • Fewest? Corona Del Mar was tops — 2.7% — followed by Seal Beach at 3.1% of listings and Laguna Beach at 7.0% of listings.

For more real estate news, CLICK HERE! For ZIP-by-ZIP homebuying trends, CLICK HERE! And for the latest housing foibles of Real Housewives of Orange County cast, CLICK HERE!

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