April 2020 Housing Report
Fort Worth home sales decreased 24.1-percent to 903 homes in April 2020. The median price for Fort Worth homes increased 6.3-percent year-over-year to $240,811 in April 2020.
"As expected, due to stay at home guidance, closed sales are down by almost one fourth compared to last year." said Shelby Kimball, 2020 President of the Greater Fort Worth Association of REALTORS®. "However, active listings declined less than 3% and prices rose by 6.2% We expect prices to remain stable or rise, and as the economy continues to open we expect the closed sales to catch up.”
Fort Worth’s monthly housing inventory was 2.3 months in April 2020, equivalent to 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 44 days on the market in April 2020, five days more than April 2019. Additionally, active listings decreased 2.8-percent to 2,414 listings during the same time frame.
April 2020 Statistics At-A-Glance
- 903 - Homes sold in April 2020, 24.1& less than April 2020
- $240,811 - Median price in April 2020, 6.3-percent more than April 2019
- 2.3 - Monthly housing inventory in April 2020, equivalent to April 2019
- 44 - Average number of days homes spent on the market in April 2020, five days more than April 2019
- 35 - Average number of days to close in April 2020, five days more than April 2019
- 2,414 - Active home listings on the market in April 2020, 2.8-percent less than April 2019