May 2020 Housing Report
Fort Worth home sales decreased 27.7-percent year-over-year from May 2019 to 935 homes in May 2020. The median price for Fort Worth homes decreased .5-percent year-over-year to $234,900. However, both sales and active listings were up slightly from April 2020.
"While May’s numbers were down compared to May of 2019, we are seeing stability in the market and numbers of both active listings and closed sales have picked up over April 2020," said Shelby Kimball, 2020 President of the Greater Fort Worth Association of REALTORS®. "I think we can expect a slow and steady increase through the summer.”
Fort Worth’s monthly housing inventory was 2.4 months, 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 41 days on the market, five days more than in May 2019. Additionally, active listings decreased 9.9-percent to 2,421 listings during the same time frame.
May 2020 Statistics At-A-Glance
- 935 - Homes sold in May 2020, 27.7-percent less than May 2019
- $234,900 - Median price in May 2020, .5-percent less than May 2019
- 2.4 - Monthly housing inventory in May 2020, equivalent to May 2019
- 41 - Average number of days homes spent on the market in May 2020, five days more than May 2019
- 35 - Average number of days to close in May 2020, five days more than May 2019