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Sunday, February 28, 2021

Fort Worth home sales increase 7.3% in September

Fort Worth home sales increased 7.3 percent to 1,072 homes in September 2019. The median price for Fort Worth homes increased 1.1 percent year-over-year to $227,000 in September 2019.

“September saw home sales increase, while available listings continue to be a challenge. Prices increased slightly and homes are staying on the market longer,” said Moiri Brown, 2019 President of the Greater Fort Worth Association of REALTORS. “We expect this trend to continue as the real estate market stabilizes from the dramatically high price increases and low number of days on the market in the last couple of years.”

Fort Worth’s monthly housing inventory was 2.6 months in September 2019, the same as 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 41 days on the market in September 2019, seven days more than September 2018. Additionally, active listings decreased 1.4 percent to 2,802 listings during the same time frame.

“The holidays are just around the corner,” said Brown. “While the holiday season tends to slow down, it’s a still a great time to sell and avoid increased competition from sellers waiting until after the holidays to put their home on the market.”

September 2019 Statistics At-A-Glance

• 1,072 – Homes sold in September 2019, 7.3 percent more than September 2018.

• $227,000 – Median price in September 2019, 1.1 percent more than September 2018.

• 2.6 – Monthly housing inventory in September 2019, the same as September 2018.

• 41 – Average number of days homes spent on the market in September 2019, seven days more than September 2018.

• 32 – Average number of days to close in September 2019, the same as September 2018.

• 2,802 – Active home listings on the market in September 2019, 1.4 percent less than September 2018.

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