Tarrant County Real Estate Market Report | October 2017

Tarrant County Real Estate Market Report | October 2017

Tarrant County real estate statistics are tracked in the North Texas Real Estate Information System (NTREIS), more commonly known as the Multiple Listing Service or MLS.  This is a look at all residential property types including single-family homes, condominiums, and townhouses, including both resale and new construction.  

In Tarrant for the month of September 2017:

• 2,345 Sales Closed -- Down 4.2% from 2,449 in September 2016
• 2,184 Homes were In Contract expected to close soon
• 2,676 New Listings went on the market, Down 2.2% from 2,663 in September 2016
• Average Days on Market (DoM) = 31 Days -- Up 10.7% from 28 in September 2016
• Active Listings = 4,710 -- Down 1.2% from 4,767 in September 2016
• Month's of Inventory = 2.0 Months

In the last 3 months there have been 633 listings expire without being sold.

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The trend in original list price has increased 2.3% from $224,900 in September 2016 to $230,000 in September 2017 with average list price to sales price ratio at 97.9% indicating that even though there has been a monthly decrease in home sales, the market trend upward throughout this year is resulting in higher prices.  However, there is a decrease from a high point earlier this year. 

Tarrant County Real Estate is still in a strong seller's market.  There are signs we may be experiencing a shift in the market however.  We're coming off four consecutive years of record sales increases both in the number of homes selling and price increases.  This trend will not be sustained forever.  Interest rates are poised to rise, which will affect home affordability even more.  Now might be the best time to sell a home in north Texas.