Low end homes see controlled rise in marketshare
December 6, 2009
The data through October 2009 suggest Fort Worth will not see sales rise above their 2008 counterparts. The distribution of prices show most of the homes sold in 2009 were extremely low priced homes. All price categories under $60,000 show increases in marketshare. The homes priced from $30,000 to $39,999 gained so much share of the market that with incomplete 2009 data, this category already has 9.8 percent higher real sales than in 2008, see below.
| Fort Worth | |||||
| Price Range | Percent Distribution | # of Sales | |||
| 2008 | 2009e | 2008 | 2009* | Change | |
| $29,999 or less | 4.2 | 5.1 | 404 | 363 | -10.11% |
| 30,000 - 39,999 | 2.9 | 4.3 | 279 | 306 | 9.77% |
| 40,000 - 49,999 | 3.3 | 3.8 | 317 | 271 | -14.75% |
| 50,000 - 59,999 | 3.6 | 4.3 | 346 | 306 | -11.57% |
| 60,000 - 69,999 | 4.7 | 4.2 | 452 | 299 | -33.85% |
| 70,000 - 79,999 | 5.6 | 5.2 | 539 | 370 | -31.26% |
| 80,000 - 89,999 | 6.3 | 6.8 | 606 | 484 | -20.09% |
| 90,000 - 99,999 | 7.4 | 7.1 | 712 | 506 | -28.97% |
| Under 100k | 38 | 40.8 | 3,655 | 2,905 | -20.51% |
| 100k - 119,999 | 14.1 | 14.2 | 1,356 | 1,011 | -25.44% |
| 120k - 139,999 | 13.3 | 12.9 | 1,279 | 919 | -28.20% |
| 140k - 159,999 | 8.7 | 7.5 | 837 | 534 | -36.18% |
| 100k - 160k | 36.1 | 34.6 | 3,472 | 2,464 | -29.05% |
| 160k - 179,999 | 5.7 | 4.9 | 548 | 349 | -36.36% |
| 180k - 199,999 | 3.8 | 3.6 | 366 | 256 | -29.87% |
| 200k - 249,999 | 6.1 | 5.8 | 587 | 413 | -29.61% |
| 250k - 299,999 | 3.6 | 4.1 | 346 | 292 | -15.69% |
| 300k - 399,999 | 3.2 | 3.4 | 308 | 242 | -21.34% |
| 400k - 499,999 | 1.4 | 1.3 | 135 | 93 | -31.26% |
| 500k and more | 2 | 1.6 | 192 | 114 | -40.78% |
Fort Worth shows a different trend than most other Texas cities, because the city lost sales in all the midpriced homes; however, there is a small uptick in share for homes priced between $250,000 and $399,999. Perhaps those who would have invested in a higher priced home three years ago have scaled back and are safely buying these upper middle class homes. Fort Worth is different from the rest of the state because there is not increase in midpriced homes.
Comments
Got something to say?