After falling last month, Fort Worth home sales increased 1.9 percent to 1,288 homes in July 2018. The median price for Fort Worth homes increased 8.4 percent year-over-year to $229,900 in July 2018. In Tarrant County as a whole, home sales increased 3.9 percent over the previous year.
“We continue to have a strong market and are finding the market is leveling,” said J.R. Martinez, 2018 President of the Greater Fort Worth Association of REALTORS. “It still continues to be a great time to purchase or sell a house.”
Fort Worth’s monthly housing inventory was is now 2.5 months, .2 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 29 days on the market in July 2018, the same as a year earlier. Additionally, active listings increased 15 percent to 2,697 listings during the same time frame.
July 2018 Statistics At-A-Glance
• 1,288 – Homes sold in July 2018, 1.9 percent more than July 2017.
• $229,900 – Median price in July 2018, 8.4 percent more than July 2017.
• 2.5 – Monthly housing inventory in July 2018, .2 months more than July 2017.
• 29 – Average number of days homes spent on the market in July 2018, the same as July 2017.
• 31 – Average number of days to close in July 2018, 3 days less than July 2017.
• 2,697 – Active home listings on the market in July 2018, 15 percent more than July 2017.