Fort Worth home sales decreased 7.2 percent to 983 homes in October 2018. The median price for Fort Worth homes increased 7.6 percent year-over-year to $220,000 in October 2018.
“We are continuing to see home sales decline,” said J.R. Martinez, 2018 President of the Greater Fort Worth Association of REALTORS. “However, more homes are going up for sale. This could help first time homebuyers that have previously been kept out of the market.”
Fort Worth’s monthly housing inventory was 2.5 months in October 2018, .3 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 40 days on the market in October 2018, five days more than October 2017. Additionally, active listings increased 14.8 percent to 2,670 listings during the same time frame.
October 2018 Statistics At-A-Glance
• 983 – Homes sold in October 2018, 7.2 percent less than October 2017.
• $220,000 – Median price in October 2018, 7.6 percent more than October 2017.
• 2.5 – Monthly housing inventory in October 2018, .3 months more than October 2017.
• 40 – Average number of days homes spent on the market in October 2018, five days more than October 2017.
• 32 – Average number of days to close in October 2018, the same as October 2017.
• 2,670 – Active home listings on the market in October 2018, 14.8 percent more than October 2017.