Insiders Report Strong Market In Fort Wayne For October 2024
Insiders Report Strong Market In Fort Wayne For October 2024 – The Fort Wayne real estate market showed impressive growth in October 2024 compared to the same time last year. Here’s a closer look at the key market trends:
Market Highlights:
- New Listings:
October saw an increase in activity, with 858 new listings, representing a 6.1% rise compared to October 2023. This boost gives buyers more options heading into the holiday season. - Pending Sales:
Pending sales increased by 4.9%, with 663 homes under contract. This signals strong buyer demand despite higher interest rates. - Closed Sales:
The most notable growth was in closed transactions, which jumped 14.4% year-over-year to 737 homes. This is a clear indication that buyers are still eager to secure their dream homes in the Fort Wayne area. - Median Sales Price:
Home values also continued to climb, with the median sales price reaching $245,000, an impressive 10.1% increase compared to last year. - Inventory Levels:
Inventory grew by 14.6%, offering a total of 1,371 homes for sale. The months’ supply of inventory is now at 2.1 months, a 10.5% increase from last year. While still a seller’s market, these rising inventory levels may provide more opportunities for buyers.
What This Means for Buyers and Sellers
- For Buyers:
With increased inventory and new listings, now is a great time to explore your options. Although prices have risen, more choices could make it easier to find the perfect home. - For Sellers:
The strong demand and rising median prices mean it’s still a lucrative market to list your home. With closed sales and pending sales on the rise, your property could sell quickly and at an excellent price if priced correctly.
National Context:
According to the National Association of REALTORS® (NAR), U.S. existing-home sales dropped slightly in October 2024, with a 1.0% month-over-month decline. However, the Fort Wayne market remains resilient, bucking the national trend by showing significant year-over-year growth in both sales volume and price. This is a testament to the region’s strong local economy and housing demand.
Looking Ahead:
As we approach the end of 2024, the Fort Wayne housing market continues to demonstrate strength. Buyers are actively searching for homes, and sellers are benefiting from higher prices and a fast-paced market. With steady inventory growth, we may see some balancing of supply and demand in the coming months.
If you’re considering buying or selling in Fort Wayne, now is the time to act! Contact me to discuss how these market trends impact your specific goals and to explore opportunities tailored to your needs.
Insiders Report Strong Market In Fort Wayne For October 2024
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.
“Professional Service with a Personal Touch“
We’re Here To Help
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… Insiders Report Strong Market In Fort Wayne For October 2024 …
… 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.
