Sellers started to emerge in June, leading to an increase in inventory in Fort Worth. However, a backlog of eager homebuyers and low mortgage rates helped continue the upward trend of home prices, as the median price hit $300,000.
Home buyers in May paid 25 percent more for a house than they would have paid one year ago, according to the latest housing report data for Fort Worth. The median home price for May 2021 climbed to $295,000, setting another record high.
The median Fort Worth home price held steady in April 2021 after months of climbing, but the lack of inventory did, too. The median price in April was $275,000, an increase of 13.4 percent year over year.
Multiple offer situations continue to be the norm, as an unusual and highly competitive real estate market persisted into the spring. Homebuyers are struggling to find suitable options with only 0.9 months of inventory in Fort Worth and active listings down 55 percent from March 2020.
Inventory dropped to less than one month in Fort Worth during February 2021, as demand for houses continued to drive up prices in an unprecedented seller’s market in the DFW area.
Pent-up demand among homebuyers continued to increase in the new year, as housing inventory in Fort Worth held steady at historically low levels with just one month of available inventory in January 2021.