Sunday, January 16, 2022
40.5 F
Fort Worth

Fort Worth home sales up 8.3% in August

🕐 1 min read

Fort Worth home sales increased 8.3-percent from August 2019 to 1,331 homes in August 2020. Fort Worth’s monthly housing inventory was 1.8 months, 0.9 months less than the year prior.

“Across our area we are seeing extremely low inventory due to the pandemic and also a high volume of home owners refinancing at historically low interest rates.” said Shelby Kimball, 2020 President of the Greater Fort Worth Association of REALTORS. “The low inventory will keep real estate prices rising as demand far exceeds supply. We probably won’t see a significant change in course until next spring and even then we will still likely be faced with low supply. For those considering selling, this means less competition in the market and an opportunity for a faster close.”

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 37 days on the market, two days more than in August 2019. Additionally, active listings decreased 31.4-percent to 1,951 listings during the same time frame.

August 2020 Fort Worth Statistics At-A-Glance

  • 1,331 – Homes sold in August 2020, 8.3-percent more than August 2019
  • $248,000 – Median price in August 2020, 8.3-percent more than August 2019
  • 1.8 – Monthly housing inventory in August 2020, 0.9 months less than in August 2019
  • 37 – Average number of days homes spent on the market in August 2020, two days more than August 2019
  • 34 – Average number of days to close in August 2020

Related Articles

Our Digital Sponsors

Latest Articles

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.