Fort Worth home sales increased 0.8 percent to 1,214 homes in August 2018. The median price for Fort Worth homes increased 2.7 percent year-over-year to $220,000 in August 2018.
“Based on the numbers from the last few months, our market appears to be leveling,” said J.R. Martinez, 2018 President of the Greater Fort Worth Association of REALTORS®. “Fort Worth still has a strong real estate market when compared with national numbers. The increased number of listings provides greater opportunities for buyers.”
Fort Worth’s monthly housing inventory was 2.6 months in August 2018, .3 months more than the year prior. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
Homes spent an average of 32 days on the market in August 2018, three days more than August 2017. Additionally, active listings increased 19.4 percent to 2,804 listings during the same time frame.
Thursday, September 20 | 6 to 9 p.m. | 809 at Vickery
Join fellow GFWAR members for the first Taste of TREPAC event on September 20 at 809 at Vickery! Come sample the best of Fort Worth food, craft beer, and wine! There will also be music and a silent auction benefitting TREPAC.
Cost: $45 per person. All tickets sales will benefit TREPAC. Click below to register.
TREC is pleased to announce our new Name Management Tool!*
TREC has launched our new Name Management Tool to allow broker license holders to easily manage all of their business names online and remain in compliance with the updated advertising rules.
This new tool is another example of the Agency expanding our online services, and improving customer service for our license holders. The Name Management Tool updates our database immediately and our website data within 24 hours. Using the tool ensures that the agency has an accurate record of all the names, DBA's, and team names associated with each broker, making it easier for the public to find who they are looking for. The Agency is committed to providing user-friendly options like the Name Management Tool, to allow license holders to conveniently manage more of their license data without waiting on us.
The Texas Real Estate Commission met August 13. Here are a few actions from the meeting you should know about.
Realty can be used in team names
An adopted amendment to TREC rule 535.155, Advertisements, removes the term realty from the list of prohibited terms in a team name. A team’s name must still end in the words team or group to adhere to TREC rules.
Registering a well with your Groundwater Conservation District is the only way to protect existing wells. Below is a list of the Groundwater Conservation Districts in this area. Each District utilizes their own specific forms. Forms can be obtained from the District websites for Well Registrations and Transfers. Please share this information with your clients to protect our groundwater.
Nominations must be submitted by September 14 to be considered for the October 5 awards.
This award is presented twice a year to property owners that have completed a project that enhances the surrounding area. The project could be residential or commercial, a rehab/remodel/rebuild of a structure that improves the surrounding area, or new construction in an area that will be revitalized through its addition to the neighborhood. The committee prefers that the work was done within the past 18 months. The awards will be presented to recipients at two Greater Fort Worth Association of Realtors luncheons, will receive recognition to all of our 3,500 members, and will be featured in a press release following the presentation. To nominate a property for the award, please complete the application below and submit no more than 12 before and after photos of the interior and exterior of the property with the application. Our committee is excited to see the amazing property that you nominate! For questions, contact Alyssa Born with GFWAR at 817-336-5165, ext. 112, or a.born@ gfwar.org.
Click here to access the Neighborhood Revitalization Award application.
If you weren’t able to watch live as Texas Association of REALTORS® COO Mike Barnett gave a walkthrough of the new MarketViewer data tool, the video is now available in an edited version. Watch the full tutorial or jump to explanations of specific features and questions. The video explains the background of the Data Relevance project and the MarketViewer tool, why reports may differ from what’s available through your local MLS, and how to use the infographic generator and access market reports in addition to answers questions from members like you.