Fort Worth home sales decreased 1.6 percent to 969 homes in November 2019. The median price for Fort Worth homes increased 6.5 percent year-over-year to $230,000 in November 2019.
“Homes are not selling as quickly as they did in the beginning of the year,” said Moiri Brown, 2019 President of the Greater Fort Worth Association of REALTORS. “November saw another jump in home prices, showing Fort Worth is still a strong housing market.”
Fort Worth’s monthly housing inventory was 2.4 months in November 2019, 0.1 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 50 days on the market in November 2019, four days more than November 2018. Additionally, active listings increased 1.5 percent to 2,563 listings during the same time frame.
November 2019 Statistics At-A-Glance
• 969 – Homes sold in November 2019, 1.6 percent less than November 2018.
• $230,000 – Median price in November 2019, 6.5 percent more than November 2018.
• 2.4 – Monthly housing inventory in November 2019, 0.1 months more than November 2018.
• 50 – Average number of days homes spent on the market in November 2019, four days more than November 2018.
• 33 – Average number of days to close in November 2019, one day more than November 2018.
• 2,563 – Active home listings on the market in November 2019, 1.5 percent more than November 2018.
In the U.S., sales of new homes dipped slightly in October compared with September but remain well above levels of a year ago, with lower mortgage rates helping spur a rebound in purchases.
The annual rate of single-family new-home sales slipped 0.7% last month to a seasonally adjusted 733,000, the Commerce Department said in late November. But that decline followed robust gains of 4.5% in September and 7% in August.