Fort Worth home sales increased 1.9 percent to 1,288 homes in July 2018. The median price for Fort Worth homes increased 8.4 percent year-over-year to $229,900 in July 2018.
“We continue to have a strong market and are finding the market is leveling,” said J.R. Martinez, 2018 President of the Greater Fort Worth Association of REALTORS®. “It still continues to be a great time to purchase or sell a house.”
Fort Worth’s monthly housing inventory was 2.5 months in July 2018, .2 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 29 days on the market in July 2018, the same as July 2017. Additionally, active listings increased 15 percent to 2,697 listings during the same time frame.
Mortgage rates declined this week, marking the fourth drop in the past five weeks, Freddie Mac reports.
“The decrease in borrowing costs is a nice slice of relief for prospective buyers looking to get into the market this summer,” says Sam Khater, Freddie Mac’s chief economist. “Some are undoubtedly feeling the affordability hit from swift price appreciation and mortgage rates that are still 67 basis points higher than this week a year ago.”
The Greater Fort Worth Association of REALTORS® is a professional trade association of over 3,000 licensed real estate agents and affiliate members.
Our members abide by a strict code of ethics and have access to a wide variety of business services that are not available to non-REALTORS®. This gives them a competitive edge in the marketplace, enabling them to provide superior services to buyers and sellers of real property.
Use this site to find a REALTOR® find out the current status of home sales or to compare home prices in a neighborhood in which you may be interested.