Fort Worth Real Estate Climbs: Average Property Values Up to $340K in April 2024

The real estate market in Fort Worth, Texas, has been experiencing a consistent upward trajectory. The market is showing signs of growth, with the average property values moving from approximately $328k in February to $340k in April. Additionally, there has been a rise in the average values per square foot, with a $2 increase from $180 in February to $182 in April.

Average home sale prices climbed from $302,907 in February to $306,023 in April. The sale price per square foot also grew, from $176 to around $178 within that same period.

Here is a snapshot of May 2023 compare to April this year

In terms of the volume of sales, there has been variability over the past year. Particularly noteworthy is the drop from 8,419 sold properties in October to 6,167 in March, before a modest increase to 6,510 in April. This trend indicates a fluctuating market in terms of the number of transactions month-over-month.

Looking at where the market currently stands, the average value in Fort Worth is $340,298, and the average sale price is $306,023, with 6,510 recently sold homes.

Comparative Analysis of Surrounding Cities

Exploring the real estate markets of the surrounding cities provides insightful context for Fort Worth’s position. Below is an overview of the zip codes in Fort Worth:

• Azle reports an average property value of around $330,449, which is close to Fort Worth’s market. However, its per square foot value is higher at approximately $188, and the sale price surpasses Fort Worth at almost $350,531. With 295 properties sold in Azle, this city appears to be a slightly higher value market on a per square foot basis.
• Haltom City, on the other hand, shows more affordable options, with an average property value of around $270,000 and an average sale price of about $260,541. Haltom City has a similar number of properties sold compared to Azle (299), despite lower overall values.
• Haslet presents a more upscale market, with the average value of properties hovering around $439,450, which is notably higher than Fort Worth. Likewise, its sale price stands at approximately $406,424 with 307 homes sold. This indicates a market that caters to a more premium segment compared to Fort Worth.
• Keller emerges as the most upscale neighboring market, displaying the highest average values and per square foot values among the cities in comparison. The average property value in Keller is a distinguished $689,950, with an average sale price of about $613,250. With 460 properties sold, Keller’s market evidences robust activity at a higher price point, likely indicating a demand for luxury or larger homes.
• Lastly, North Richland Hills presents an average property value of around $399,000, with a sale price of about $359,000. The number of properties sold in North Richland Hills was 529, representing a market that is active and holding a mid-range position in terms of property values and sales prices in comparison to the other cities.

These comparisons highlight a spectrum of property values and market activities in the Fort Worth area and its neighbors, each catering to different segments of the housing market.

More on this topic, read our previous Fort Worth market report.