News & Blog

Upstate Alliance of REALTORS® releases local market data

Jun 15
North Eastern Group Realty

Since housing data for the first part of 2011 has been compared to activity during the same period in 2010 when the home buyer tax credit was in effect, the numbers have showed decreased activity and a slight decline in prices.  May stats, however, seemed to have begun to turn a corner.

  • Closed Sales decreased 15.92 percent from last May to 581 homes sold, but were up from 478 in April 2011.
  • New Listings in the Fort Wayne region increased 5 percent to 1,252.
  • Current inventory levels are approaching manageable levels at 3,864 units .
  • The Median Sales Price INCREASED 4.21 percent from May 2010 to $99,000.

Several industry experts predict a significant turn around as the economy and job markets improve. The last several years have led to what is hoped to be pent up home ownership demand.