August 2024 Housing Report

As the summer home-buying season winds down, there’s promising news for potential buyers: mortgage interest rates are expected to decrease after the upcoming Federal Reserve meeting.

Lower rates could attract more buyers into the market, making it a great opportunity for those looking to purchase a home before competition heats up. Fort Worth’s median home price has risen to $340,000, reflecting a steady 2.1% year-over-year increase, while inventory levels are slightly higher than last year, providing more options for buyers.

Though homes are staying on the market a bit longer—averaging 45 days in Fort Worth—this trend, combined with favorable mortgage conditions, could create an ideal environment for buyers ready to make a move. Sellers, too, can look forward to more interest from buyers.

August 2024 Fort Worth Statistics At-A-Glance

935 – Homes sold in August 2024, 12.1% less than August 2023

$340,000 – Median price in August 2024, 2.1% more than August 2023

3.7 – Monthly housing inventory in August 2024, 1.3 months more than August 2023

45 – Average number of days homes spent on the market in August 2024, 7 days more than August 2023

31 – Average number of days to close in August 2024

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