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.
The Greater Fort Worth Association of REALTORS® needs your help with a short survey to help us better understand your needs as a member and give us direction as we try to provide the best services possible to meet your needs.
This survey is now open and will be only available through Friday, October 25th. Please click the link below to get started:
This survey will take only minutes to complete and your responses are completely anonymous. All survey participants will be entered in a drawing to win one of two $50 gift cards! Thank you in advance for your participation.
2019 President, Greater Fort Worth Association of Realtors®
Saturday, November 2 | 10 a.m. to 3 p.m. | Rockwood Park
Thursday, October 24 | 11 a.m. to 1 p.m. | GFWAR Auditorium
Join us for the Leasing Management Forum Legislative Update with Douglas Oldmixon and Abby Lee.
Douglas Oldmixon, Executive Director of the Texas Real Estate Commission and Abby Lee, Senior Associate Counsel at the Texas REALTORS®, will present on the current legislative session - detailing the bills that passed which affect leasing and property management. They will also answer your questions on state and national level issues. There will be a Q&A session. Registration is FREE to all attendees.
Wednesday, October 23 | 7:30 to 9 a.m. | Ridglea Country Club
Join us on October 23 from 7:30 to 9 a.m. at Ridlgea Country Club to hear more about the Qualified Opportunity Zones program.
The Qualified Opportunity Zone (“QOZ”) program was created by the 2017 Tax Cuts and Jobs Act to encourage economic growth in underserved communities through tax incentives for investors who utilize “Opportunity Funds” to invest in the Zones. Along with tax benefits, it presents opportunities for real estate investment and development in those communities.
We will be joined by Brenda Hicks-Sorensen, Assistant Director of the Fort Worth Economic Development Department, and Bob Turner, owner/broker at Southern Properties.
1. What is the lawsuit about?
The primary allegation is that home sellers are unfairly being required to pay the commissions of buyers’ brokers while falsely suggesting the role of buyer broker has diminished over time. The complaint also contradicts itself and falsely asserts that NAR rules injure competition by requiring sellers and listing brokers to offer MLS participants cooperative commissions as a way to incentivize those participants to show their clients the property in question.