Soaring Home Prices and Exciting May Events Calendar
Check out this month’s market update and stay tuned for the May events calendar brought to you by Doug Carroll at Ruoff Home Mortgage!
The real estate market in Northeast Indiana continues to be characterized by robust buyer demand, outpacing fluctuations in mortgage rates and witnessing soaring prices. According to recent data, median home prices in the region rose by a significant 4.3% to reach $240,000 in March 2024, compared to the same period last year. This increase in prices coincided with a 2.9% rise in new listings, indicating sustained interest from sellers.
Moreover, both pending and closed sales experienced notable growth, with pending sales up by 8.4% and closed sales by 9.5%. These figures suggest a healthy level of activity in the market, driven by strong demand from buyers. The Upstate Alliance of REALTORS highlights a nationwide trend of improving existing-home sales, which surged by 9.5% to a seasonally adjusted annual rate of 4.38 million units. This growth exceeded economists’ expectations and marked the largest monthly gain in a year, indicating a favorable environment for sellers.
The rebound in home sales can be attributed to several factors, including a dip in mortgage rates and an increase in housing supply across the country. Total inventory grew by 5.9% month-over-month and 10.3% year-over-year to reach 1.07 million units, resulting in a 2.9 months’ supply at the current sales pace. Despite this increase in supply, buyer demand remains robust, contributing to a 5.7% year-over-year rise in the median existing-home sales price, reaching $384,500. This marks the eighth consecutive month of annual price increases, reflecting the ongoing strength of the market.
May 2024: Fort Wayne Events Calendar
As we enter May, Fort Wayne is bustling with a diverse range of events and activities for residents and visitors alike. Here’s a curated selection of events happening throughout the month:
Fort Wayne Events Calendar:
- Vera Bradley Annual Outlet Sale: From May 1st to 5th, experience the renowned Vera Bradley Annual Outlet Sale at the Allen County War Memorial Coliseum. With varying times throughout the week, this event promises exclusive deals and stylish finds.
- An Evening with Shawn Colvin & KT Tunstall: On May 2nd at 8 PM, head to the Clyde Theatre for a memorable evening featuring performances by acclaimed artists Shawn Colvin and KT Tunstall.
- Great American Clean Up: Join the community on May 4th from 8 AM to 2 PM for the Great American Clean Up, a collective effort to beautify and maintain our city’s cleanliness.
- Cancer Services Ribbon Walk 2024: Show your support for a noble cause on May 4th from 9 to 11 AM at Cancer Services of Northeast Indiana.
- Jersey Boys: Catch the hit musical “Jersey Boys” at the Arts United Center from May 4th to 19th. With multiple showings on Fridays, Saturdays, and Sundays, don’t miss this Broadway sensation.
- Fort Wayne Philharmonic: Brahms and the Romantic Spirit: Immerse yourself in the enchanting melodies of Brahms and the Romantic Spirit on May 8th from 7:30 to 8:30 PM at The History Center.
- Shakey Graves: Enjoy an evening of live music with Shakey Graves at the Sweetwater Performance Pavilion on May 9th at 7 PM.
- Sesame Street Live! Say Hello: Treat your family to the magic of Sesame Street Live! at the Embassy Theatre on May 10th at 6 PM.
- Mother’s Day Plant Sale: Celebrate Mother’s Day with a visit to the Mother’s Day Plant Sale at the McMillen Park Community Center from May 10th to 12th.
- Allen County Marketplace: Explore a variety of vendors, food trucks, and live music at the Allen County Marketplace on May 11th from 9 AM to 1 PM.
- Disabilities Expo: Learn, connect, and support at the Disabilities Expo held at the Allen County War Memorial Coliseum on May 11th from 10 AM to 3 PM.
- Tacos, Tequila, & Margarita Fest: Indulge in a flavorful fiesta at the Tacos, Tequila, & Margarita Fest at Headwaters Park on May 11th from 11 AM to 7 PM.
- Muster on the St. Mary’s: Step back in time and experience history come to life at the Muster on the St. Mary’s event at Historic Fort Wayne on May 11th and 12th.
And the list goes on with an array of cultural, musical, and community events scheduled throughout the month. Fort Wayne offers something for everyone, making it an exciting place to live and explore.
Whether you’re interested in attending live performances, supporting charitable causes, or enjoying family-friendly activities, May in Fort Wayne promises to be vibrant and unforgettable. Make sure to mark your calendars and seize the opportunity to engage with the community and create lasting memories.
-Mike
Why Does RE/MAX Results Stand Out Among the Competition?
Simply put: Relationships. We pride ourselves not only in our professional service but more importantly in the personal touch we bring to our business. Has an agent/lawyer/contractor/vendor ever treated you like you were just another paycheck? The reason our clients come back time and again and refer all their friends and family to us is because they know we are part of the family.
Genuinely caring about the people we serve enables us to do things other agencies can’t. Rest assured, we will ALWAYS have your best interest at heart and work vigorously to get you the best deal possible on your home or business.
The relationships we build with our clients enable us to work 100% by referral. The reason we are able to give top notch service to our clients is because our clients refer us a constant stream of quality family and friends to assist in their real estate needs. While other agents are out making cold calls and chasing “potential” leads, we are freed up by our referral base to service our clients like no other broker can. We are never too busy for your referrals!
Want to experience the difference for yourself? Call or text me today at 260-579-1516.
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Are you or someone you know considering a home purchase? Don’t hesitate to call or text me, Michael Archbold, at 260-579-1516 and I will connect you with the best mortgage professionals in the business who can get you your score, discuss ways to improve it if necessary, and put you on the path to home ownership. Click here to read more about our Buyer Services. Click here to browse listings NOW! Looking to sell your home? Call today to set up an appointment to begin developing your customized marketing plan. Click here to read more about our Seller Services.
Hoosier Home Listings by RE/MAX Results is a full service real estate Web site serving Northeast Indiana. We assist residential and commercial clients in locating, buying, and selling real property in the State of Indiana including but not limited to the counties of Allen, Huntington, Wells, Adams, Whitley, Wabash, Kosciusko, Noble, Dekalb, Lagrange, Steuben and cities including Fort Wayne, Decatur, Bluffton, Huntington, Warsaw, Columbia City, Butler, and Angola. RE/MAX Results is an Equal Housing Opportunity company.
Hoosier Home Listings – Soaring Home Prices and Exciting May Events Calendar…
… brought to you by Michael Archbold, Hoosier Home Listings, and RE/MAX Results.
The consummate professional, Michael Archbold (Associate Broker, REALTOR, ePro) brings a diversified background to the world of real estate. Born and raised in Fort Wayne, Mike graduated Wayne High School in 1992. He received bachelors degrees in Accounting in 1997 from Indiana University and Information Technology in 2005 from Indiana Wesleyan University. Mike comes to RE/MAX with more than 20 years of experience in sales and accounting. He began his career in real estate in 2000 as an investor.
