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Sunday, February 28, 2021

Fort Worth home sales increase 6.4 percent in May

Fort Worth home sales increased 6.4 percent to 1,247 homes in May 2018. The median price for Fort Worth homes increased 8.1 percent year-over-year to $227,000 in May 2018.

“Like most of the country, home prices in Fort Worth are rising each month, and inventory is low,” said J.R. Martinez, 2018 President for the Greater Fort Worth Association of REALTORS. “A seller’s market can be very difficult for buyers to navigate. Realtors are here to make the process as easy as possible.”

Fort Worth’s monthly housing inventory was 2.1 months in May 2018, 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 31 days on the market in May 2018, four days more than May 2017. Additionally, active listings increased 14.1 percent to 2,269 listings during the same time frame.

May 2018 Statistics At-A-Glance

• 1,247 – Homes sold in May 2018, 6.4 percent more than May 2017.

• $227,000 – Median price in May 2018, 8.1 percent more than May 2017.

• 2.1 – Monthly housing inventory in May 2018, .1 month more than May 2017.

• 31 – Average number of days homes spent on the market in May 2018, 4 days more than May 2017.

• 33 – Average number of days to close in May 2018, 1 day more than May 2017.

• 2,269 – Active home listings on the market in May 2018, 14.1 percent more than May 2017.

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