Ranking: Fort Wayne had nation’s hottest real estate market in July

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FORT WAYNE, Ind. (WANE) — Fort Wayne has the nation’s hottest real estate market, as it turns out.

According an analysis of July realtor.com data, Fort Wayne was ranked No. 1 in the real estate website’s list of hot real estate markets. That’s up from No. 12 in July 2018.

Rochester, New York was ranked No. 2, and Columbus, Ohio came in at No. 3, ahead of Pueblo, Colorado at No. 4 and Midland, Texas at No. 5.

According to the realtor.com article, which calls Fort Wayne an “industrial town,” homes in Fort Wayne pulled nearly three times the views on realtor.com compared to typical properties around the country. Starter homes run $75,000 to $200,000, and local real estate agent Beth Walker told realtor.com those homes are selling within 24 to 48 hours, many above the asking price due to multiple offers.

“Young people don’t want to always max out what they can afford,” Walker told realtor.com. “People are finding smaller, [cheaper] cities where you can buy a good-sized home and not be mortgage poor and afford a good quality of life.”

SEE THE RANKINGS

According to the article, the city’s real estate market has ballooned due to the growing arts and still-strong manufacturing force.

“This city has been on the upswing for years and still has a strong manufacturing sector and a burgeoning arts scene,” realtor.com said of Fort Wayne. “That’s caught the attention of builders, who are putting up new homes throughout the area.”

Fort Wayne was one of three Indiana cities to be included in the rankings. Lafayette was No. 6 (up from No. 47 in July 2018), and the Elkhart-Goshen area climbed from No. 86 in July 2018 up to No. 16.

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