Metropolitan Statistical Area (MSA):
Fort Wayne, IN is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the housing market in the Fort Wayne, IN metropolitan statistical area (MSA) has been on the rebound in recent years. After taking a beating during the recession, home prices have slowly but surely begun to creep back up, and sales volume has followed suit.
One of the most notable trends in the Fort Wayne MSA housing market has been the resurgence of new construction. According to data from the Indiana Association of Realtors, new home sales in Allen County (which contains Fort Wayne) were up nearly 20% in 2017 compared to 2016. This is a welcome trend for a market that was once dominated by foreclosures and short sales.
Another positive trend that is worth mentioning is the decrease in inventory levels. For much of the past few years, buyers have had their pick of homes on the market due to high levels of inventory. However, as demand has increased and new construction has lagged behind, inventory levels have begun to fall – which is good news for sellers who are finally seeing some upward pressure on prices.
Overall, it seems like things are finally starting to look up for the Fort Wayne MSA housing market. Prices are rising, new construction is picking up, and buyers finally have some negotiating power again after years of being at a disadvantage. If these trends continue, it should be a good year for both buyers and sellers alike in 2018!