Fort Worth home sales increased 5 percent to 1,062 homes in October 2019. The median price for Fort Worth homes increased 4.6 percent year-over-year to $230,000 in October 2019.
"Inventory was still a challenge in our market in October," said Moiri Brown, 2019 President of the Greater Fort Worth Association of REALTORS®. "We did see sales pick back up, but listings were down slightly from last year. If you want to buy or sell a home before the end of the year, work with a Realtor® to ensure a smooth transaction.”
Fort Worth’s monthly housing inventory was 2.5 months in October 2019, the same as 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 46 days on the market in October 2019, five days more than October 2018. Additionally, active listings decreased 0.4 percent to 2,691 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.