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.