According to the Upstate Alliance of REALTORS® October market report, this year has been spectacular for residential real estate. Robust gains in sales and prices were felt in many markets. More homes sold in less time for closer to asking price. While consumers have felt empowered by low prices and interest rates, sellers are starting to regain their
footing. Seller confidence is crucial to refilled inventory bins – which are still relatively sparse.
• New Listings increased 2.1 percent to 886.
• Pending Sales were up 1.4 percent to 589.
• Inventory levels shrank 0.5 percent to 3,430 units.
• The Median Sales Price decreased 4.7 percent to $107,700.
• Percent of Original List Price Received increased 0.4 percent to 93.0.
• Months Supply of Inventory was down 8.2 percent to 5.6 months.
The economy continues to snail forward. The government shutdown had a modest impact on borrowing – mostly centered on USDA and VA borrowers. Consumer confidence is central to ongoing recovery, and confidence was hindered by the shutdown. Consumer spending accounts for roughly 70 percent of U.S. economic activity and impacts the likelihood for big-ticket purchases like homes and cars.
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 or find a Fort Wayne REALTOR®, 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.
The North Eastern Group is pleased to announce that 21st Century Homes, Bob Buescher Homes, Granite Ridge Builders, Quality Crafted Homes, Slattery Builders, Star Homes by Delagrange & Richhart, and Timberlin Homes have committed to participating in the 2014 Parade of Homes and Lifestyle Show. These builders are excited about featuring fabulous and innovative designs...
When North Eastern Group Realty adopted its tagline "Changing the Way Northeastern Indiana Views Real Estate", we knew that our mission would depend on recruiting the highest quality Fort Wayne RALTORS®. Since that time, the term "highest quality REALTORS®" has been defined differently by all. To the management team at North Eastern Group Realty, however,...