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Monday, March 8, 2021

Fort Worth home sales up slightly in February

Fort Worth home sales were up 0.4 percent to 856 homes in February 2020. The median price for Fort Worth homes increased 3.8 percent year-over-year to $232,000 in February 2019.

“While prices continued to rise overall, we saw a decrease in listings and inventory.” said Shelby Kimball, 2020 President of the Greater Fort Worth Association of REALTORS. “As the weather improves we expect to see increases in listings as the spring market heats up. Mortgage rates are down to multi-year lows which will make it even more affordable to purchase a home.”

Fort Worth’s monthly housing inventory was 2 months in February 2020, compared to 2.1 months in February 2019. 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 54 days on the market in February 2020, the same as February 2019. Additionally, active listings decreased 4.7 percent to 2,191 listings during the same time frame.

February 2020 Statistics At-A-Glance in Fort Worth:

• 856 – Homes sold in February 2020, .4% more than February 2019.

• $232,000 – Median price in December 2019, 2.3 percent more than December 2018.

• 2.0 – Monthly housing inventory in February 2020, compared to 2.0 in February 2019.

• 54 – Average number of days homes spent on the market in February 2020, down 4 from February 2019.

• 30 – Average number of days to close in February 2020, 3 days less than February 2019.

• 2,191 – Active home listings on the market in February 2020, down 4.7% from February 2019.

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