The greater Fort Worth housing market kept pace with year-ago activity levels in May, according to the latest data from the Greater Fort Worth Association of REALTORS®.
Among most of the counties encompassing the Fort Worth area, active listings decreased as home sales increased, with prices experiencing a slight annual decline; in greater Fort Worth specifically, active listings decreased 6.3% year over year while closed home sales increased 7.6% and the median decreased 0.8% to $335,250.
“The leveling out of the region’s housing market is a great economic sign,” GFWAR President Shawn Buck said in a press release. “The exponential home price increases of years past were exciting, but they are not sustainable, plus it prices so many people out of our market. A stable market strengthens our region and allows first-time homebuyers to be more confident in finding a home and making a reasonable offer that will be accepted.”
The Fort Worth housing market by county
Tarrant County
Tarrant County’s median home price declined 0.9% year over year to $352,000, while active listings decreased 6.8% and closed home sales increased 2.5%.
Given the rate of sales, the county had a 3.5-month inventory, down from 3.8 months a year prior.
Johnson County
Home prices dipped more significantly in Johnson County, with the median sliding 5.2% to $334,900. Active listings decreased 8.9%, while closed home sales increased 8.1%.
The county had a 4.4-month inventory, down from 4.9 months last May.
Parker County
In Parker County, the median home price decreased 0.8% to $484,500. Active listings decreased 9.2% while closed home sales increased 8.4%.
The county had a 5.4-month inventory in May, down from 6.3 months a year prior.
Denton County
Denton County was the outlier in the Fort Worth area: The median home price actually increased 3.2% to $464,500 as homes in the $500,000 to $750,000 range made up nearly 27% of all home sales. Active listings increased 1.4% and closed home sales increased 1.7%.
Year over year, inventory was steady at 4.6 months.