Fort Worth home sales decreased 24.1% to 903 in April 2020 compared to April 2019 as the market saw see the impact of the COVID-19 pandemic. Active listings were down 2.8% to 2,414. While sales were down, the median price for Fort Worth homes increased 6.3% percent year-over-year to $240,811 in April 2020.
“COVID-19 continues to impact the market, and as expected, closed sales are down by almost one fourth compared to last year.” said Shelby Kimball, 2020 President of the Greater Fort Worth Association of REALTORS. “However, active listings declined less than 3% and prices rose by 6.2%. We expect prices to remain stable or rise, and as the economy continues to reopen we expect the closed sales to catch up.”
Fort Worth’s monthly housing inventory was 2.3 months in April 2020, up from 2 months in March. 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 44 days on the market in April 2020, 4 days less than the preceding month. Average days to close was 35 days, up 3 days from March.
April 2020 Statistics At-A-Glance
- 903 – Homes sold in April 2020, 24.1% less than April 2019.
- $240,811 – Median price in April 2020, 6.3% percent more than April 2019.
- 2.3 – Monthly housing inventory in April 2020, compared to 2.0 in March 2020.
- 44 – Average number of days homes spent on the market in April 2020, down 4 from March 2020.
- 35 – Average number of days to close in April 2020, 3 days more than March 2020.
2,414 – Active home listings on the market in April 2020, down 2.8% from April