In May, Fort Worth’s housing market exhibited moderate growth in home prices, with the median listing price reaching $359,900. This figure remains somewhat lower than the national average, yet it marks a significant trend in the local market.
Market Overview
The number of active listings on the market shrank by 4%, a more pronounced decrease than is typical for this time of year in Fort Worth. Despite the reduction in listings, homes are selling at a similar pace to last year, with an average of 36 days on the market. This is notably faster than the national average of 44 days.
Key Highlights
• Median Listing Price: $359,900
• Price Per Square Foot: Increased by 0.8% from April
• Total Listings: 2,061 homes, a 4% month-over-month decrease and a 23% year-over-year increase
• New Listings: 1,154, which is 3% less than April but 1% more than the same time last year
• Days on Market: 36 days, two days fewer than April and one day more than May of last year
Comparative Analysis
Nationally, home prices increased by 1.3%, indicating that Fort Worth’s price changes are slightly lagging behind the national market. While the national active inventory fell by 2% in May, Fort Worth saw a 4% decrease in active listings, suggesting a more dynamic local market.
Inventory Insights
In May, Fort Worth had 2,061 homes for sale, reflecting a 4% decrease from the previous month but a substantial 23% increase from the same time last year. New listings totaled 1,154, a slight decrease of 3% month-over-month but a 1% increase year-over-year.
Time on Market
Homes in Fort Worth sold in an average of 36 days in May, faster than usual for this time of year. This is two days less than the previous month and one day more than the same month last year. Nationally, homes took an average of 44 days to sell in May, highlighting Fort Worth’s competitive market.
Conclusion
The Fort Worth housing market continues to show signs of strength and resilience, with moderate price increases and faster-than-average sales times. These trends provide opportunities for both buyers and sellers to navigate the market effectively. Staying informed about these dynamics can help you make strategic decisions in this ever-evolving market.
For more insights and updates on the Fort Worth real estate market, stay tuned to our blog!
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