--Housing Report

Inventory held steady in April of 2023 in Fort Worth, at a time of year when more people are typically looking to buy or sell a home. Tarrant County was at 1.8 months and Fort Worth was at 2 months of inventory – both flat from March.

The median home price in Fort Worth in March was $329,950 – a slight increase from February, but a 1.5 percent decrease year over year. The number of homes sold grew to 1,021, a .4 percent increase from March 2022 and the first increase after 12 months of decreases in year-over-year closed sales.

In February 2023, the median Fort Worth home price was $325,000, which was up slightly from January but down 2.1 percent year over year. Inventory continued its downward trend to 1.9 months in Fort Worth and 1.7 months in Tarrant County.

The median home price in Fort Worth in January 2023 was $320,000, which is flat from one year ago. After a year of dramatic price increases in 2022, the decrease in prices is a welcome sight for prospective homebuyers, who have been faced with low inventory, higher mortgage rates, and the pressures of inflation.

Decreasing home prices hit the breaks in December, in what is typically a quiet month for the real estate industry. The median price in Fort Worth ended the year with a slight increase to $340,000–a $15,000 increase in the median price since January 2022, and a 4.9 percent increase year-over-year.

November closed sales were down more than 30 percent year over year in Fort Worth and Tarrant County. The median home price in Fort Worth dropped to $333,009, a return to numbers not seen since February, but a 7.4 percent increase from November 2021.