Fort Worth home sales decreased 0.9 percent to 1,253 homes in August 2019. The median price for Fort Worth homes increased 3.3 percent year-over-year to $228,000 in August 2019.
"We saw a slight slowdown in the market in August," said Moiri Brown, 2019 President of the Greater Fort Worth Association of REALTORS®. "Lack of inventory and higher home prices are still presenting a challenge for home buyers in the market. Working with a Realtor® is the best way for a buyer or seller to navigate our current market.”
Fort Worth’s monthly housing inventory was 2.6 months in August 2019, 0.1 months less 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 36 days on the market in August 2019, three days more than August 2018. Additionally, active listings decreased 3.7 percent to 2,820 listings during the same time frame.
On Friday, the Supreme Court issued its ruling in the case of Knick v. Township of Scott, a decision which NAR believes will lead state and local governments to be more thoughtful and deliberate when developing laws or regulations that could infringe on Americans’ private property rights.
Specifically, Knick v. Township of Scott declared that plaintiffs who have accused local governments of violating the Takings Clause of the U.S. Constitution may proceed directly in federal court rather than first litigating in local circuits, overturning a 34-year old precedent set by a 1985 Supreme Court ruling.
The Greater Fort Worth Association of REALTORS® is a professional trade association of over 3,000 licensed real estate agents and affiliate members.
Our members abide by a strict code of ethics and have access to a wide variety of business services that are not available to non-REALTORS®. This gives them a competitive edge in the marketplace, enabling them to provide superior services to buyers and sellers of real property.
Use this site to find a REALTOR® find out the current status of home sales or to compare home prices in a neighborhood in which you may be interested.