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Tuesday, September 29, 2020
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Real Estate Fort Worth homes sales down slightly from 2017

Fort Worth homes sales down slightly from 2017

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During 2018, Fort Worth home sales were 12,743, down 0.6 percent from 2917.

The median price for Fort Worth homes increased 6.2 percent year-over-year to $220,260 in 2018.

“In the beginning of 2018, the Fort Worth housing market was continuing on the same trends we saw in 2017. However, towards the end of the year, we started seeing a shift in the market as sales slowed,” said Moiri Brown, 2019 president for the Greater Fort Worth Association of REALTORS.

Fort Worth’s monthly housing inventory was 2 months in 2018, 0.4 months more than 2017. 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 in 2018, three days more than 2017. Additionally, active listings increased 14.5 percent to 2,325 listings during the same time frame.

“It’s been predicted housing inventory will rise in 2019, which will help ease the bidding wars we regularly saw in 2018,” said Brown. “However, housing affordability may present an obstacle for first time buyers attempting to enter the market. This is where a Realtor comes in. We are here to help all buyers and sellers make the best of the current market.”

2018 Year-End Statistics At-A-Glance

• 12,743 – Homes sold in 2018, 0.6 percent less than 2017.

• $220,260 – Median price in 2018, 6.2 percent more than 2017.

• 2.0 – Monthly housing inventory in 2018, 0.4 months more than 2017.

• 37 – Average number of days homes spent on the market in 2018, three days more than 2017.

• 32 – Average number of days to close in 2018, one day less than 2017

• 2,325 – Active home listings on the market in 2018, 14.5 percent more than 2017.

www.gfwar.org

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