As the year comes to a close, the Fort Worth real estate market continues its gradual path toward stabilization. December 2024 brings a mixed outlook for buyers and sellers, with moderate home price changes, increased inventory, and persistent challenges tied to high mortgage rates.

Current Market Snapshot

  • Median Home Price: The median price in Fort Worth is approximately $331,000, reflecting a slight 1.5% decrease year-over-year.
  • Inventory: Active listings have risen to 2.8 months of supply, edging closer to a balanced market.
  • Sales Volume: Closed transactions are down 11% compared to December 2023, continuing a year-long trend of reduced sales activity.
  • Days on Market: Homes are now spending an average of 44 days on the market, up from 35 days last December.

Interest Rates and Their Impact

Mortgage rates remain above 7%, maintaining pressure on affordability for many buyers. Despite this, the holiday season often presents opportunities for well-prepared buyers, as motivated sellers are more likely to make concessions.

Buyers and sellers alike are watching the Federal Reserve closely, with hopes that interest rates could ease in 2025. This could spark renewed activity, particularly in Fort Worth, which remains a desirable destination for both relocators and investors.

Neighborhoods to Watch

  • Benbrook: With competitive pricing and easy access to downtown Fort Worth, Benbrook continues to draw families and first-time buyers.
  • Oakhurst: Known for its charming historic homes and proximity to the Trinity River, Oakhurst is attracting interest from those seeking character and convenience.
  • Lake Worth: Offering affordability and waterfront living, Lake Worth has seen a rise in activity as buyers search for value outside the city center.

Key Trends for December

  1. Seller Flexibility: Homes staying on the market longer means sellers are more open to price negotiations and closing cost assistance.
  2. Refinance Plans: Many buyers are leveraging creative financing options now, with plans to refinance when rates eventually drop.
  3. Holiday Opportunities: December can be an advantageous time for buyers, as fewer competitors in the market create a more relaxed purchasing environment.

The Road Ahead

The Fort Worth real estate market is expected to remain steady through the first quarter of 2025, with affordability challenges balanced by increased inventory. For those considering entering the market, patience and preparation will be key to navigating this evolving landscape.

How The Larkin Team Can Help

Whether you’re buying your first home, selling a property, or looking to invest, our local expertise ensures you’ll have the insights and support you need. We stay ahead of market trends to help you achieve your real estate goals—no matter the season.

Reach out today to discuss your options or schedule a consultation. Let’s make 2025 your year for real estate success!