Fort Worth market almost half of 2007
March 28, 2009
Fort Worth gained 55 home sales over January 2009. They ended February with 491 sales; however, this number is not only 35.8 percent lower than February 2008, but also 43.2 percent lower than February 2007. That is a huge drop. The market is almost half of where it was in 2007. February 2007 had 865 sales.
The average price was $130,900 for the Fort Worth real estate market. This is a 5.1 percent drop from 2008’s $143,400. If February is supposed to be the start of the market’s rebound, the extra $3600 over January’s average does not bode well. The median price gained $3300 from January to $107,000. This is 7.5 percent lower than February 2008.
Sales in January 2009 lowest since January 2002
February 25, 2009
The sales for January 2009 were down 27.09 percent from January 2008, a drop from 598 to 436, and down 40.03 percent from January 2007, which posted 727 sales. November 2008 also had sales in the four hundreds, but this is the lowest number of sales since January 2002, when there were only 431 sales.
The mean and median sales prices were also down from January 2008. The prices in January 2008 were quite low on their own, thus January 2009 was a particularly bad month. The mean price was $127,300, which was the lowest price since February 2005 ($118,900). One must also return to February 2005 to find a lower median price than $104,300. February 2005 had a median price of $100,900.
Fort Worth Real Estate Market Statistics - Dec 08
January 28, 2009
The second largest drop in one and two year sales numbers occurred in December 2008 for the Fort Worth real estate market.
There was a 23.7 percent drop between December 2007 and December 2008 in the number of home sales. From December 2006 to December 2008, there was a 36.03 percent drop. There have been double digit drops in one year home sales since October 2008, and a in two year sales since June 2008. Single year drops have two anomalies: April and September. These months show a drop around 4 percent, but every other month has over 10 percent drops. This is a 16 percent average drop for the year, and a 19 percent drop with the anomalies dropped.
Average and median home prices are separated by almost $31,000. They both dropped from December 2007. Average prices dropped by .21 percent from a year ago, and median price dropped by 7.69 percent. This is part of a trend towards drops since July 2008. Both of these numbers is an increase from November 2008, so perhaps there is an upward trend beginning.
There are three price ranges showing an increase in number of sales between 2007 and 2008. These ranges include: $29,999 or less, $30,000-$39,999, and homes above $500,000.
The largest increase was in homes priced under $29,999. Sales increased by1.6 percent, which was about 104 homes. This translates to a 34.74 percent increase for this price range. This is the only dramatic increase of the three ranges. The largest decrease occurred with homes priced between $110,000 and $119,999, with a 25.09 percent decrease. In 2007, this range made up 15.7 percent of all homes sold, in 2008, it was down to 14.1 percent. This is the difference of 454 homes. This is 24 percent of the market loss, which was 1913 homes.
Fort Worth Home Sales Plummet
January 7, 2009
| Year | Month |
Sales |
% 1 Year Change | % 2 Year Change | Average Price | % 1 Year Change2 | Median Price | % 1 Year Change | Total Listings |
|
2006 |
Jan |
621 |
$132,000 |
$113,800 |
5,230 |
||||
|
2006 |
Feb |
799 |
$131,000 |
$114,700 |
5,418 |
||||
|
2006 |
Mar |
1,154 |
$132,400 |
$116,600 |
5,523 |
||||
|
2006 |
Apr |
977 |
$135,500 |
$115,500 |
5,704 |
||||
|
2006 |
May |
1,103 |
$137,000 |
$118,500 |
5,878 |
||||
|
2006 |
Jun |
1,222 |
$144,200 |
$121,900 |
6,156 |
||||
|
2006 |
Jul |
1,076 |
$136,100 |
$117,100 |
6,281 |
||||
|
2006 |
Aug |
1,128 |
$145,700 |
$119,200 |
6,273 |
||||
|
2006 |
Sep |
1,049 |
$135,100 |
$115,800 |
6,336 |
||||
|
2006 |
Oct |
992 |
$138,200 |
$118,000 |
6,202 |
||||
|
2006 |
Nov |
915 |
$138,000 |
$119,500 |
6,139 |
||||
|
2006 |
Dec |
941 |
$139,500 |
$117,900 |
5,845 |
||||
|
2007 |
Jan |
727 |
17.07% |
$127,900 |
-3.11% |
$109,700 |
-3.60% |
5,837 |
|
|
2007 |
Feb |
865 |
8.26% |
$134,100 |
2.37% |
$114,000 |
-0.61% |
6,003 |
|
|
2007 |
Mar |
1,091 |
-5.46% |
$130,300 |
-1.59% |
$114,500 |
-1.80% |
6,372 |
|
|
2007 |
Apr |
946 |
-3.17% |
$144,100 |
6.35% |
$117,800 |
1.99% |
6,433 |
|
|
2007 |
May |
1,136 |
2.99% |
$148,600 |
8.47% |
$123,500 |
4.22% |
6,454 |
|
|
2007 |
Jun |
1,119 |
-8.43% |
$141,300 |
-2.01% |
$119,200 |
-2.21% |
6,465 |
|
|
2007 |
Jul |
1,104 |
2.60% |
$154,300 |
13.37% |
$124,100 |
5.98% |
6,499 |
|
|
2007 |
Aug |
1,169 |
3.63% |
$149,200 |
2.40% |
$122,200 |
2.52% |
6,355 |
|
|
2007 |
Sep |
868 |
-17.25% |
$143,400 |
6.14% |
$119,500 |
3.20% |
6,339 |
|
|
2007 |
Oct |
923 |
-6.96% |
$148,200 |
7.24% |
$116,800 |
-1.02% |
6,142 |
|
|
2007 |
Nov |
795 |
-13.11% |
$142,300 |
3.12% |
$118,600 |
-0.75% |
5,930 |
|
|
2007 |
Dec |
789 |
-16.15% |
$141,300 |
1.29% |
$119,600 |
1.44% |
5,509 |
|
|
2008 |
Jan |
598 |
-17.74% |
-3.70% |
$128,100 |
0.16% |
$113,100 |
3.10% |
5,555 |
|
2008 |
Feb |
765 |
-11.56% |
-4.26% |
$137,900 |
2.83% |
$115,700 |
1.49% |
5,554 |
|
2008 |
Mar |
847 |
-22.36% |
-26.60% |
$144,100 |
10.59% |
$116,300 |
1.57% |
5,602 |
|
2008 |
Apr |
905 |
-4.33% |
-7.37% |
$139,600 |
-3.12% |
$114,700 |
-2.63% |
5,594 |
|
2008 |
May |
1,006 |
-11.44% |
-8.79% |
$157,700 |
6.12% |
$123,400 |
-0.08% |
5,478 |
|
2008 |
Jun |
990 |
-11.53% |
-18.99% |
$152,200 |
7.71% |
$120,500 |
1.09% |
5,418 |
|
2008 |
Jul |
954 |
-13.59% |
-11.34% |
$147,700 |
-4.28% |
$120,200 |
-3.14% |
5,467 |
|
2008 |
Aug |
911 |
-22.07% |
-19.24% |
$145,600 |
-2.41% |
$120,900 |
-1.06% |
5,252 |
|
2008 |
Sep |
832 |
-4.15% |
-20.69% |
$141,700 |
-1.19% |
$116,700 |
-2.34% |
5,120 |
|
2008 |
Oct |
717 |
-22.32% |
-27.72% |
$134,600 |
-9.18% |
$110,400 |
-5.48% |
4,934 |
|
2008 |
Nov |
492 |
-38.11% |
-46.23% |
$132,600 |
-6.82% |
$110,000 |
-7.25% |
4,847 |
The home sales for November 2008, in Fort Worth, were 38.11 percent lower than November 2007. This is the largest percentage drop for every month in 2008. The second largest drop was 22.36 percent in March. Every month, except September and April, had double-digit losses from their 2007 counterparts.
The two year numbers are equally as bad, with November 2008 showing a 46.23 percent drop from November 2006. This is the highest two year drop, with October’s 27.72 being the second highest. The numbers have gotten increasing bad since July 2008.
The prices of homes have also dropped over the past year. The mean housing price fell 6.82 percent from November 2007 to $132,600 from $142,300. The median price did even worse. The prices dropped from $118,600 to $110,000 between November 2007 and November 2008. This is a 7.25 percent drop.
| Price Range |
Percent Distribution |
|
# of Sales |
|
|
|
2007 |
2008 |
2007 |
2008 |
Change | |
| $29,999 or less |
2.6 |
4.1 |
299.832 |
369.697 |
23.30% |
| 30,000 - 39,999 |
2.3 |
2.8 |
265.236 |
252.476 |
-4.81% |
| 40,000 - 49,999 |
2.8 |
3.3 |
322.896 |
297.561 |
-7.85% |
| 50,000 - 59,999 |
3.5 |
3.6 |
403.62 |
324.612 |
-19.57% |
| 60,000 - 69,999 |
4.4 |
4.6 |
507.408 |
414.782 |
-18.25% |
| 70,000 - 79,999 |
5.4 |
5.5 |
622.728 |
495.935 |
-20.36% |
| 80,000 - 89,999 |
7.1 |
6.4 |
818.772 |
577.088 |
-29.52% |
| 90,000 - 99,999 |
7.4 |
7.5 |
853.368 |
676.275 |
-20.75% |
| Under 100k |
35.5 |
37.8 |
4093.86 |
3408.426 |
-16.74% |
| 100,000 - 119,999 |
15.7 |
14.2 |
1810.524 |
1280.414 |
-29.28% |
| 120,000 - 139,999 |
14.4 |
13.4 |
1660.608 |
1208.278 |
-27.24% |
| 140,000 - 159,999 |
9.3 |
8.7 |
1072.476 |
784.479 |
-26.85% |
| 100-160k |
39.4 |
36.3 |
4543.608 |
3273.171 |
-27.96% |
| 160,000 - 179,999 |
6.2 |
5.7 |
714.984 |
513.969 |
-28.11% |
| 180,000 - 199,999 |
3.9 |
3.7 |
449.748 |
333.629 |
-25.82% |
| 200,000 - 249,999 |
5.8 |
6.2 |
668.856 |
559.054 |
-16.42% |
| 250,000 - 299,999 |
3.1 |
3.6 |
357.492 |
324.612 |
-9.20% |
| 300,000 - 399,999 |
3 |
3.3 |
345.96 |
297.561 |
-13.99% |
| 400,000 - 499,999 |
1.4 |
1.4 |
161.448 |
126.238 |
-21.81% |
| 500,000 and more |
1.6 |
2 |
184.512 |
180.34 |
-2.26% |
The only price range posting an increase was homes under $29,999. These were up by 23.3 percent. Every other category dropped. The smallest decrease was 2.26, for homes over $500,000. This is a small share of the market. The largest drop was for homes priced from $100,000 to $119,999. This category had a drop of 29.28 percent.