Fort Wayne housing market low on inventory, high on demand

Local News

One home on Fort Wayne’s northeast side is proof of the urgent housing market, with more than 15 showings in the first day available.

“You gotta be ready,” Dan Mihuc said while looking at the home. “You’ve got to be ready to act and make a decision quickly.”

Buyers are encouraged to be aggressive, with houses hard to come by.

“It’s pretty extraordinary,” Managing Broker Patrick Gillan explained. “It speaks to our inventory, the homes on the market for people to buy, is very low.”

Gillan told NewsChannel 15 there are twenty percent fewer houses for sale than this time last year. Look back a few years, that number is closer to 50%. 

Proof of the demand can be seen in the front yard of the house near East State Village.

“Fort Wayne is an attractive place to stay,” Gillan added. “I think people have really come around to being near downtown, and especially being in an authentic neighborhood where you can walk and sit on the front porch.”

Mihuc jumped on the opportunity to see the house. He is competing with those looking for new homes and new investments.

“People are just buying up property, for investment properties too,” Mihuc said. “There are two sides of the coin and a lot of people are looking right now.”

Looking for a house? The tip heard over and over: be ready.

“The sellers are not likely to wait for someone to get their financing in order,” Gillan explained. “That would be the number one thing.”

“Have everything in place so you an pull the trigger that day, otherwise it just goes so fast,” Mihuc added.

Realtor advice to sellers? Visual appeal is almost as important as location. More and more people are looking for homes, by clicking pictures online.

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