Housing inventory continued its upward climb in August in Fort Worth. With 2.4 months of inventory, the number of houses on the market was at its highest so far in 2023, giving potential homebuyers more options.
The median home price in Fort Worth in July was $329,450, a 7.2 percent decrease from July 2022. The median price in Tarrant County of $355,000 was down 4.8 percent year over year.
The June housing report numbers showed positive signs in the greater Fort Worth area, but prospective home buyers are still facing challenges. Inventory climbed to 2.2 months in Fort Worth and 2.1 months in Tarrant County. Johnson and Parker Counties also showed inventory increases.
Inventory in Fort Worth was static for the third month in a row with only 2 months of inventory in March, April, and May. As a busy spring and summer for real estate ramped up, prospective homebuyers felt the pinch of a limited number of listings.
Inventory held steady in April of 2023 in Fort Worth, at a time of year when more people are typically looking to buy or sell a home. Tarrant County was at 1.8 months and Fort Worth was at 2 months of inventory – both flat from March.
The median home price in Fort Worth in March was $329,950 – a slight increase from February, but a 1.5 percent decrease year over year. The number of homes sold grew to 1,021, a .4 percent increase from March 2022 and the first increase after 12 months of decreases in year-over-year closed sales.