Fort Worth home sales decreased 12.3 percent to 971 homes in December 2018. The median price for Fort Worth homes increased 3.7 percent year-over-year to $225,000 in December 2018.
“Like most of the country, we are seeing our sales slow down, and while prices continue to rise, it is at a more moderate rate,” said Moiri Brown, 2019 President of the Greater Fort Worth Association of REALTORS. “Our inventory has been increasing consistently which should encourage buyers to enter the market.”
Fort Worth’s monthly housing inventory was 2.0 months in December 2018, 0.4 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 48 days on the market in December 2018, four days more than December 2017. Additionally, active listings increased 22.5 percent to 2,154 listings during the same time frame.
December 2018 Statistics At-A-Glance
971 – Homes sold in December 2018, 12.3 percent less than December 2017.
$225,000 – Median price in December 2018, 3.7 percent more than December 2017.
2.0 – Monthly housing inventory in December 2018, .4 months more than December 2017.
48 – Average number of days homes spent on the market in December 2018, four days more than December 2017.
32 – Average number of days to close in December 2018, one day less than December 2017.
2,154 – Active home listings on the market in December 2018, 22.5 percent more than December 2017.
This article provided by NewsEdge.