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.