If you're in the market for a new home, real estate experts say October may be the perfect time to buy.
With the fall season comes less competition, but in Fort Worth's cultural district neighborhood, home buyers still need to act quickly.
"In the spring and the summer, we saw people going in $10,000 or maybe even more over asking price," said Mary Carolyn Gatzke, executive vice president at Briggs Freeman Sotheby's International Realty. "Anything in the 250s, the 350s, 400-500s, there's just not enough inventory for the buyers we have."
In Fort Worth's cultural district, Gatzke says there is currently 2.4 months of inventory, which is equivalent to a seller's market. The total active listings in the neighborhood for homes between $250,000 and $400,000 is 30.
"We've been patient for a reason," said Nick Muhl, a first-time home buyer looking to purchase in Fort Worth's cultural district. "We know what we're looking for. In this market, you have to open to looking at new things."
Muhl and his girlfriend, Audrey Getman, are looking at homes built in the early 1900s. On Friday, they looked at a home built in the 1940s.
The couple started their home search in April and have put in offers on 10 homes.
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"We put forward great offers, but some people have all cash," said Getman. "It has been a little frustrating because we've found so many houses that we really like and can see ourselves in. They just haven't panned out."
According to Gatzke, 39 homes have closed in Fort Worth's cultural district since July with sellers getting an average of 99.4 percent of asking price. The homes were on the market for 17 days on average.
