What is the State of the Market for Buyers in Fort Worth? Is it a buyer’s market today in Fort Worth?
As experts in the Fort Worth real estate market, we get asked this question a lot.
In general the answer is unfortunately “no.” It is actually still a seller’s market in Fort Worth, Texas. Inventory in Fort Worth is low right now. With the rise in interest rates over the last months people who have mortgages are hanging onto their homes (and their lower rates.) But, it isn’t as much of a seller’s market as it was a few years ago.
More info on the state of the market right now is as of August of 2023 the number of houses on the market reached the highest point so far in 2023 and the inventory continues to climb. This gives buyers more options.
And we’d like you to know the answer isn’t as simple as yes or no.
The State of the Market for Buyers in Fort Worth TX
First off, it really depends on the property type and location.
It depends on the type of property you’re looking for. Single-family homes in great locations that are priced well have been going fast. There’s a lot of demand in the market for certain areas.
Buyers are often looking for the same thing – good neighborhoods, access to transportation, shopping, good schools, close to work, etc. Properties that deliver all these are definitely a hot commodity. Sellers with a highly desirable property are in control of the market.
But for condos and townhouses – especially those a little off the beaten path, or with some funky features – it can be quite a different story. Prices were down in certain areas of Fort Worth, but seem to be rebounding as the rental market increases.
Investment properties are in demand. The massive amounts of foreign cash flooding in to invest in US real estate have impacted the North Richland Hills market in unique ways.
Overall, those people in a position to pay cash for properties have been picking up the good deals in the marketplace.
Lots of sellers are trying out speculative prices just to see if anyone bites, but most investors are walking away from deals that don’t pan out.
Financing is still a major obstacle for buyers. Banks are being incredibly strict, requiring lots of money down and even changing their terms at the last minute. It’s not uncommon for approved buyers to get their loans pulled right before closing escrow, although it’s getting better than it was just a couple of years ago.
Overall the markets remain incredibly polarized – there is a lot of action at the very top and the very bottom, with the biggest challenges in the middle.
Sound confusing? We Can Help.
Local to the Fort Worth area Texas Best Homebuyers has been helping people with their real estate needs for more than 25 years. If you would like to discuss any questions regarding your real estate property with us don’t hesitate to contact us anytime! We will reply quickly, usually within 24 hours. Contact us today 1-817-808-4911
Perhaps you are ready to list your property on the Multiple Listing Service. (MLS) We would be happy to list your home or to help you find your next home to purchase! We are very experienced with this method of buying or selling a home. If you are selling a home we will help you to get the best sales price for your home. Contact us today! 1-817-808-4911
For most people, owning a home is the largest purchase of their lives. Because it is such an important financial decision getting the right kind of support for your particular situation and preferences is essential. In addition to working with traditional buyers and sellers, we also work with people to find solutions for selling distressed homes, and help owners who need to sell their house fast, to do so quickly. Call us anytime if you have questions or if you would like a free, no hassle, no obligation situation evaluation. Perhaps you would like to avoid the hassles of a traditional sale. At Texas Best Homebuyers we will give you a fair cash offer to buy your home “as is” and do everything we can to make the sale as quick and easy on you as possible. If this sounds like what you’re looking for give us a call right away. 1-817-808-4911
We’re investing in Fort Worth because we believe in the community and the people here.
We are based in North Richland Hills, Texas but if you need to sell a property near Fort Worth, we’d be happy to discuss your particular situation.