September 2021 Housing Report
The median home price in Fort Worth for September was $305,000, a slight decrease from August, but still a 22 percent increase from September of 2020. Climbing home prices appear to be leveling out, but are still significantly higher year-over-year.
Listings were on the market for an average of 23 days in Fort Worth, an increase from just 18 days in August. However, inventory was still historically low at 1.2 months in September. 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.
“Although there are some signs that the market is becoming less competitive, there are still fewer homes for sale than a year ago with active listings down 22.9 percent,” said Elizabeth McCoy, 2021 President of the Greater Fort Worth Association of REALTORS®. “We’ll need to see more growth in new listings going into the fall before the demand eases.”
In addition, the 30-year fixed-rate mortgage rose sharply this month, averaging 3.05%. That marks the highest average since April, according to Freddie Mac’s mortgage market survey. Rates are expected to continue a modest upswing, creating additional challenges for potential homebuyers.
“This September, buyers had more options than they’ve had all year and while that’s typical of early fall, that’s not what happened in 2020,” says Danielle Hale, realtor.com®’s chief economist. “Still, it’s important to remember that while buyers may have an easier time this fall than they did in the spring, the market remains more competitive than it has been historically at this time of year.”
September 2021 Fort Worth Statistics At-A-Glance
- 1,257 - Homes sold in September 2021, 3 percent less than September 2020
- $305,000 - Median price in September 2021, 22 percent more than September 2020
- 1.2 - Monthly housing inventory in September 2021, 0.4 months less than in September 2020
- 23 - Average number of days homes spent on the market in September 2021, 16 days less than September 2020
- 33 - Average number of days to close in September 2021