July 2024 Housing Report
In July 2024, Fort Worth home prices continued to rise, with the median reaching $347,153, a 6 percent increase from last year. Tarrant County also saw a modest 2.3 percent increase, with the median price at $362,250. Despite higher prices, inventory levels are up, with Fort Worth at 3.6 months and Tarrant County at 3.4 months, contributing to more balanced market conditions.
Mortgage rates fell to 6.47 percent in early August, the lowest in over a year, which could encourage more sellers to enter the market and ease affordability for buyers. Notably, sales are on the rise in Tarrant, Johnson, and Parker Counties, signaling a positive trend. Lawrence Yun of the National Association of REALTORS® highlighted that increased inventory is leading to more contract signings and placing buyers in a better position.
Whether you’re looking to buy or sell, now is a great time to make your move. Our LEAGUE REALTORS® are ready to guide you through the process with expert advice and personalized service. Reach out today to take advantage of the current market conditions and achieve your real estate goals.
July 2024 Fort Worth Statistics At-A-Glance
993 – Homes sold in July 2024, 0.1 percent less than July 2023
$347,153 – Median price in July 2024, 6 percent more than July 2023
3.6 – Monthly housing inventory in July 2024, 1.4 months more than July 2023
44 – Average number of days homes spent on the market in July 2024, 8 days more than July 2023
33 – Average number of days to close in July 2024
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