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Saturday, April 17, 2021

Fort Worth residential real estate continues strength in 2017

During 2017, Fort Worth home sales raised 5.4 percent to 12,726 homes. The median price for Fort Worth homes increased 11.9 percent year-over-year to $207,000 in 2017.

“The Texas real estate market was strong in 2017 and the Fort Worth housing report reflects that. Most of the trends we were seeing in 2017, rising prices and low inventory, are expected to continue in 2018,” said J.R. Martinez, 2018 president for the Greater Fort Worth Association of REALTORS.

Fort Worth’s monthly housing inventory was 1.6 months in 2017, 0.1 months more than 2016. 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 33 days on the market in 2017, five days less than 2016. Additionally, active listings increased 11.9 percent to 2,020 listings during the same time frame.

“Many economists are expecting home prices to continue increasing in 2018 but at a slower rate. It has also been predicted that we will start to see a growth in housing inventory,” said Martinez. “Realtors remain optimistic and can help buyers and sellers navigate the 2018 housing market.”

2017 Year-End Statistics At-A-Glance

• 12,726 – Homes sold in 2017, 5.4 percent more than 2016.

• $207,000 – Median price in 2017, 11.9 percent more than 2016.

• 1.6 – Monthly housing inventory in 2017, 0.1 months more than 2016.

• 33 – Average number of days homes spent on the market in 2017, five days less than 2016.

• 2,020 – Active home listings on the market in 2017, 11.9 percent more than 2016.

www.gfwar.org

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