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