July 2020 Housing Report
Fort Worth home sales increased 28-percent year-over-year from July 2019 to 1,576 homes in July 2020. The median price for Fort Worth homes increased 6.9-percent year-over-year to $247,500.
"We are still seeing a bustling housing market, prices are rising, inventory is low and sales are happening at a brisk pace." said Shelby Kimball, 2020 President of the Greater Fort Worth Association of REALTORS®. "We expect the inventory to stay low, but do think the summer selling season will be lengthened as schools delay and school start times are less of a factor this year. Also, with such a low inventory it may take time for buyers to find the right property.”
Fort Worth’s monthly housing inventory was 0.7, less than 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 39 days on the market, five days more than in July 2019. Additionally, active listings decreased 26.7-percent to 2,122 listings during the same time frame.
July 2020 Statistics At-A-Glance
- 1,576 - Homes sold in July 2020, 28-percent more than July 2019
- $247,500 - Median price in July 2020, 6.9-percent more than July 2019
- 2.0 - Monthly housing inventory in July 2020, .7 less than in July 2019
- 39 - Average number of days homes spent on the market in July 2020, five days more than July 2019
- 34 - Average number of days to close in July 2020, one day more than July 2019