That is a question we get all the time from potential clients and from the general public.
The answer is always going to depend on who you ask, so this is us, two professional full time Realtors that live and breathe real estate, giving our opinion of the Fort Wayne real estate market.
For sellers, the market is good and has been for well over a year. Inventory levels are way down and there isn't a lot of competition out there for good, quality homes.
What this has done is raise home sale prices and lower days on market, or how long it takes to sell a home.
For buyers, it's a little frustrating right now. While the low inventory is good for sellers, it's not great for buyers. Many homes pop on the market and are under contract to sell within days if not hours.
Not all homes are flying off the shelf, but a lot of them are.
We've even seen homes go for over list price and have a set of buyers that have lost out on offers twice already, even though our offers have been clean and very strong.
It's still a good time to buy a home due to interest rates staying low, it's just a little more difficult right now.
For investors it's a tough time as well. The amount of foreclosures are a fraction of what they used to be and there is a LOT of competition between buyers and house flippers in that arena.
Margins for profit are smaller and investors are (in our opinion) over paying for flips right now.
As we creep closer and closer to spring we anticipate inventory rising and there being more for buyers to choose from. We also believe that it's still going to be a seller's market in 2016.
If you're considering buying or selling, we specialize in working with both buyers and sellers, and would love the opportunity to work with you!