Are you looking to buy a new place on the Fort Worth housing market? Or are you trying to sell a house located in Fort Worth, Texas? The Texas housing market has plenty of single-family homes with high and low home prices as well as middle-of-the-road house prices.
Are you looking for a median home price, a low list price, or a more expensive luxury home? The Fort Worth housing market in Texas will provide you with the real estate you seek. Keep reading to learn about the different house prices, the best parts of Fort Worth to live in, and the average days on the market a home lasts before sale completion. Let’s get started!
Average Home Price in Fort Worth
The average home values on the real estate market in Fort Worth, Texas, were around $330,000 and $335,000 as of February 2022, according to Redfin. The home prices in the Dallas-Fort Worth area jumped 21.8 percent over the last year. The national average of home prices is $408,100 as of December 2021.
Homebuyers were likely to pay above the asking price. Buyers paid a total of 57.8 percent of homes at higher rates than the asking prices. At the same time, 16.9 percent of homes saw price declines from the initial asking prices.
While buyers purchased only 858 homes in February 2021, as many as 901 homes were sold in February 2022 on the Fort Worth housing market. The homes are also getting sold faster than last year. On average, property gets sold after 18 days on the real estate market, which is three days more quickly than in 2021.
Real estate agents are gaining greater commission due to the price growth for many active listings in North Texas. Dallas-Fort Worth had the most significant price growth for real estate on record in 2021. Essentially, the price growth was as much as 25 percent.
Let’s say you tried to look for homes to buy in January 2021. Typical single-family homes were around $275,500. By November or December 2021, those same houses will cost as much as $345,000.
During the pandemic, the greater demand for housing led to this steep price growth. This trend of skyrocketing sales prices is not expected to continue this year. The trend is likely to slow down somewhat, but house prices may still grow slowly. It may take a while before you find an inexpensive Fort Worth home.
High and Low Home Prices in Fort Worth
Some of the cheapest homes in Fort Worth, Texas, cost as little as $117,000 or $125,000. You can also find properties, such as condo apartments, for about $85,000.
According to realtor.com, homes for sale have listed house prices that range from $11.9K to as much as $10.5 million in the Fort Worth area. Homeowners can benefit from selling their house right now, as it is clearly a seller’s market since 2021 saw a 25 percent increase in new home sales.
Currently, there are 2,827 homes for sale in the North Texas city of Forth Worth. Tons of great neighborhoods exist in this city, which is likely why the housing demand during the pandemic led to more first-time buyers looking to move here. You can pick one of the 228 neighborhoods in Fort Worth, where the median price of a large number of homes is about $340,000.
Yet, the prices vary. For instance, the Arlington Heights neighborhood has a median home listing price of $434,000, making it the most expensive area of Fort Worth, Texas. Keep reading for more information on the best places to move to in this city.
Best Areas to Live in Fort Worth
When relocating to a new city, you should always look at each area, including the downtown or the metro area. Whether you move to New York, Austin, San Antonio, or Houston, you should check out the neighborhoods. Some of the best areas to live in the Dallas-Fort Worth region include:
- Arlington Heights
- Westover Hills
Arlington Heights is located right by Camp Bowie Boulevard and is perfect for families and Millenial couples or singles. The neighborhood is full of suburban homes. There’s plenty of space for families in these residences while still ensuring everyone is close to entertaining spots. You can find museums, restaurants, and shops nearby.
Rivercrest is close to the downtown region while still providing a quiet space to raise a family in large homes. It’s easy to pop into the city from Rivercrest whenever residents need to spend some time downtown.
Fairmount is more historical and known for its coffee shops and food spots. This neighborhood is excellent for kids since it has a park and multiple schools nearby.
Westover Hills is one of the wealthier neighborhoods with huge houses and impressive landscapes. Here, you’ll find plenty of expensive home sales in Texas.
Westcliff is a college campus town with homes that range in price. Therefore, you can find a few houses at lower prices while still providing your children with a family-friendly environment.
Sale-to-list Price Ratio in Fort Worth
The median listing price per square foot of an average home in Fort Worth is $174. Any economist would recommend selling a property in Fort Worth due to the ongoing upward trend of listing prices. The growth was at 19.3 percent year-over-year as of February 2022.
The sale-to-list price ratio in the Fort Worth area is 102 percent, which is the same as the national sale-to-list price ratio. This ratio involves the buyer’s final price for a house divided by the last listed price. Since the ratio is above 100 percent, homes sell above the listed price on average.
As such, it’s the right time to sell a property in the Dallas-Fort Worth region. If you’re looking to sell quickly, you can seek out companies that buy houses Texas owners want to sell for cash. This process bypasses the need for lenders and can even allow you to sell the home in an “as-is” condition.
Average Days on the Housing Market
The phrase “days on market” entails the number of days between when a house gets listed on the real estate market and the day that the home is sold (closing day). As of February 2022, the average number of days houses spend on the housing market is 18 days. Last year, it was 22 days.
The number of days a house is on the market makes it more or less attractive to buyers. When the number of days grows, realtors find fewer buyers are interested. Essentially, buyers tend to consider that the longer a house has been on the market, the more likely there are problems with it.
The more recently listed homes are fresher, and buyers tend to find these properties more intriguing.
If you have a home in Arlington, Texas, you can also find cash home buyers Arlington owners trust who will quickly buy your place without needing to spend a month or longer getting a loan.
If you’re looking to buy a property, the Fort Worth housing market will provide you with the home you desire. Additionally, if you already live here and are looking to make a change, then sell your property to a cash buyer since the listing prices continue to grow. You can make a very nice profit by selling real estate in Fort Worth today.