The Greater Fort Worth Association of REALTORS® has released the June 2019 Fort Worth housing market report, including a news release and accompanying infographics. Here’s a first look at the data:
Fort Worth home sales decreased 8.2 percent to 1,200 homes in June 2019. The median price for Fort Worth homes increased 0.9 percent year-over-year to $230,000 in June 2019.
Fort Worth’s monthly housing inventory was 2.6 months in June 2019, 0.2 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 33 days on the market in June 2019, four days more than June 2018. Additionally, active listings increased 5.3 percent to 2,786 listings during the same time frame.
June 2019 Statistics At-A-Glance
1,200 – Homes sold in June 2019, 8.2 percent less than June 2018.
$230,000 – Median price in June 2019, 0.9 percent more than June 2018.
2.6 – Monthly housing inventory in June 2019, 0.2 months more than June 2018.
33 – Average number of days homes spent on the market in June 2019, 4 days more than June 2018.
31 – Average number of days to close in June 2019, 2 days less than June 2018.
2,786 – Active home listings on the market in June 2019, 5.3 percent more than June 2018.
So what does this mean for the average Fort Worthian who may want to buy or sell a home? Here’s what we think you should know:
* The Fort Worth housing market continues to be strong! Prices are higher but still competitive compared to many other cities of our size, and we have a good balance between inventory and demand in housing.
* The housing market does tend to slow down a bit in the dog days of summer. It’s nothing to be concerned about. As a seller, it may mean you need to be patient to find just the right buyer as people are busy with summer plans. As a buyer, this might be a great time to shop!
* There are more active homes on the market! This is a great thing for buyers - it means there are options! For sellers, don’t let this intimidate you. Competition is a good thing and demand is still high!