With low home prices and ultra-low interest rates, the housing market is offering “perhaps the best deals of a generation,” notes a recent article by Bloomberg Businessweek. Since the housing boom of 2006, home prices have fallen about 31 percent. Also, mortgage rates have been hovering at record lows for the past few weeks (4...
People have been talking a lot about the national housing market, but if you are trying to buy or sell a home, you know that all real estate is local.
So, as we embark on the fourth and final quarter of 2011, let’s take a look at the data related to the Fort Wayne real estate market.
• New Listings increased 6.3% to 923.
• Pending Sales were up 3.2% to 516.
• Inventory levels grew 2.7 percent to 4,243 units.
• The Median Sales Price increased 3.6% to $95,350.
• Percent of Original List Price Received decreased 0.2% to 93.6%.
• Months Supply of Inventory was up 12.8% to 9.0 months.
While there is still too much inventory for sale, it is positive news that both the median sales price and the number of pending sales are both up.
At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale visit our website at NorthEasternGroup.com.
North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.