January 2019 Market Report

The Greater Fort Worth Association of REALTORS® has released the January 2019 Fort Worth housing market report.  I would like to add that these numbers are for the MONTH of January compared to January of 2018.  I keep a close watch on the market because there is constant changing factors.  So, keep in mind that one month snapshots do not indicate a trend in the market but can be a part of a bigger picture.  Also, I would remind you that these statistics are for FORT WORTH not the entire DFW area.  There are big and small differences within in each neighborhood to consider – schools and other demographics should also be considered. You know the old saying…LOCATION LOCATION LOCATION !
Here’s a first look at the data:

HOME SALES
Fort Worth home sales decreased 13.5 percent to 655 homes in January 2019. The median price for Fort Worth homes increased 5.4 percent year-over-year to $216,500 in January 2019.  Home prices are still steadily rising. (but perhaps not as quickly as this time last year)

INVENTORY
Fort Worth’s monthly housing inventory was 2.1 months in January 2019, 0.5 months more 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.  So, we aren’t considered a balanced market yet.  I would say we are still in a strong “SELLER” market.  We will typically see an increase in inventory and increase in buying activity  during the spring months which will also come into consideration soon.

DAYS ON MARKET
Homes spent an average of 55 days on the market in January 2019, ten days more than January 2018. Additionally, active listings increased 30 percent to 2,258 listings during the same time frame.

January 2019 Statistics At-A-Glance

  • 655 – Homes sold in January 2019, 13.5 percent less than January 2018.
  • $216,500 – Median price in January 2019, 5.4 percent more than January 2018.
  • 2.1 – Monthly housing inventory in January 2019, 0.5 months more than January 2018.
  • 55 – Average number of days homes spent on the market in January 2019, ten days more than January 2018.
  • 32 – Average number of days to close in January 2019, one day less than January 2018.
  • 2,258 – Active home listings on the market in January 2019, 30 percent more than January 2018.

– See more at: https://www.lisacreed.com/january-2019-market-report/

 


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