Some Local Real Estate News

Texas Health Resources and Adventist Health System are developing a new 38-acre medical campus. The Texas Health Hospital Mansfield will be on the southeast corner of US 287 and Lone Star Rd. ​​The four-story, 195,40​​0-sf facility will have an initial capacity of 83 beds. Services will include a 24/7 emergency room, general surgery, women’s care, orthopedics, and interventional cardiology. The $150 million campus will also have an 80,000-sf medical office building.

The local median home price increased 7.8 percent​ year over year to $227,250 in June, according to the Greater Fort Worth Association of Realtors (GFWAR). Cowtown home sales fell 2.1 percent to 1,281 homes last month, pushing inventory up to 2.4 months. The Real Estate Center considers a six- to 6.5-months inventory a balanced market.
“The inventory of homes for sale is at the highest we’ve seen in a few years, due in part to an increase in active listings and a slight decrease in closed sales,” said J.R. Martinez, 2018 GFWAR president. “This could be due to a slight correction in the market and/or a slowdown at the end of summer as school will begin in a few weeks. However, inventory and days on market remain historically low, and the increase in median price over 2017 reflects that dynamic.”

Last month, area homes spent an average of 28 days on the market, the same as the year before. Sales​​ took 32 days to close. There were 2,596 active home listings, up 13.9 percent.

Articles from The Real Estate Center at Texas A&M RECON_logo

 

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