As a lot of us who live in the Northwest Houston area can attest, the Cypress area is growing pretty fast. The last ten years have seen explosive growth, both commercially with brand new shopping centers, the movie theater, dozens of restaurants, and residentially with new master planned communities like Bridgeland, Towne Lake among many others. Its truly amazing for those of us who have witnessed this change.
Anyone can see the difference, but what about the real numbers. Try this on for size, according to Community Impact
in the last ten years, the population of the Cy-Fair school district has increased from 294,765 to 496,751 from 2000 to 2010. That's nearly a 70% increase! So, what does this mean for the real estate market? Is this good, or bad for your home?
For your home, this means that in the last ten years home values have increased from an average of less than $40 dollars per square foot, to $56 per square foot today
. That's a pretty nice return considering the recent market troubles.
Over the last five years though, the market has been flat, causing quite a few homeowners to worry about the value of their home. Many people have just held on, not wanting to take the risk of buying or selling in this economy. Fortunately population growth for our area has remained steady, which makes our home market outlook pretty bright.