Here’s what sellers, buyers, renters, and investors can expect from our Fort Wayne market.
Here’s a quick overview of our Fort Wayne market for sellers, buyers, renters, and investors.
If you’re a seller, conditions are very much in your favor. While the rest of the country’s yearly appreciation rate is around 4%, ours is hovering between 6% and 7%. Our inventory is also sitting at just two months. As you may know, six months of inventory is considered balanced.
If you’re a buyer, the market is more competitive. There’s not a lot of inventory, and there are a lot of other buyers out there looking to buy. The good news is, interest rates are very low, which means affordability is fantastic. I promise that if you work with a great Realtor who has your best interest at heart, you’ll find and close on a house you’ll be happy with.
If you’re a renter, the situation is very challenging. Rental rates are increasing, and, as with buyers, there’s not a lot of inventory available. Because of this, a lot of renters who are tired of paying their landlord’s high monthly payments are looking to buy instead. They’re the ones who are really driving our market.
If you’re an investor, Fort Wayne is a fantastic market to invest in. Our area is on the radar of investors from all over the country who want to buy and hold properties long term. We have the perfect metrics in terms of acquisition costs, asset values, and monthly returns.
If you’d like to know more about our market or you’re thinking of buying, selling, renting, or investing, don’t hesitate to give me a call. I’d love to speak with you.