Fort Worth home sales decreased 2.1 percent to 1,281 homes in June 2018. The median price for Fort Worth homes increased 7.8 percent year-over-year to $227,250 in June 2018.
“The inventory of homes for sale is at the highest we’ve seen in a few years, due in part to an increase in active listings and a slight decrease in closed sales,” said J.R. Martinez, 2018 president for the Greater Fort Worth Association of REALTORS. “This could be due to a slight correction in the market and/or a slow down at the end of summer as school will begin in a few weeks. However, inventory and days on market remain historically low and the increase in median price over 2017 reflects that dynamic.”
Fort Worth’s monthly housing inventory was 2.4 months in June 2018, .two months more than the year prior. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
Homes spent an average of 28 days on the market in June 2018, the same as June 2017. Additionally, active listings increased 13.9 percent to 2,596 listings during the same time frame.
June 2018 Statistics At-A-Glance
• 1,281 – Homes sold in June 2018, 2.1 percent less than June 2017.
• $227,250 – Median price in June 2018, 7.8 percent more than June 2017.
• 2.4 – Monthly housing inventory in June 2018, .2 months more than June 2017.
• 28 – Average number of days homes spent on the market in June 2018, the same as June 2017.
• 32 – Average number of days to close in June 2018, 2 days less than June 2017.
• 2,596 – Active home listings on the market in June 2018, 13.9 percent more than June 2017.