Fort Wayne Market Update: Interest Rates Drop and Inventory Grows

By David Brough

Hey there, I'm Dave Brough, and I'm proud to be the owner of Anthony REALTORS. As a seasoned Fort Wayne Realtor, I've learned that putting clients first, staying accessible, and being a great listener and communicator are the keys to success.

Are you feeling overwhelmed by the ever-changing real estate market in Fort Wayne? Exciting shifts are happening right now, and I’m here to give you the inside scoop on what this means for you.

Rise in home sales. Existing home sales have increased for the first time in five months. Nationally, sales increased by 1.3%, but even more exciting, Fort Wayne saw a remarkable 6% jump! This surge is primarily due to reduced interest rates. While rates were in the 7% range over the past couple of years, we’re now enjoying rates in the mid-6%. Lower interest rates and an increased housing supply bring more buyers back into the market.

Fort Wayne’s market stats. New listings have seen a bit of a boost, increasing by just over 5% last month. Pending sales are also rising by about 2%, which shows buyer demand is growing. On top of that, inventory levels have jumped by an impressive 27%, so more options are available if you’re in the market.

Sellers note that the market is shifting towards a more balanced state. The median sales price has increased by 5.2%, reaching $245,500. The percentage of the original list price received has dipped slightly by 1%, now sitting at 97.44%. While prices are climbing, you have more room for negotiation as a buyer.

Another important stat is the months’ supply of inventory, which has jumped 23.5% to just over a two-month supply. We’re still in a seller’s market, but with more inventory than we’ve seen in a while, things are gradually shifting. A truly balanced market typically has a four to six-month supply of inventory.

If you’re a buyer, you have more homes to choose from, but you may want to act quickly before prices rise further. Now is a great time to find your dream home with more options and favorable interest rates. If you’re considering selling, there’s still strong demand. Pricing your home competitively is key to attracting serious buyers and getting the best offer. Have questions, or are you ready to take the next step? Contact me at (260) 750-2818 or david@anthonyrealtors.com, and I’d love to help you get the best of the Fort Wayne real estate market.