Indiana communities ranked among top housing markets
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The Wall Street Journal and Realtor.com are out with their Summer 2024 Housing Market Ranking and two Indiana communities are in the top five. The ranking evaluates the top 200 metropolitan statistical areas using eight metrics across two main categories: real estate market and economic health and quality of life.
The specific metrics used in the ranking are real estate demand, real estate supply, median listing price trend, property taxes, climate risk to properties, unemployment, wages, regional price parities, the share of foreign born, small businesses, amenities, and commute time.
Fort Wayne maintained its spot at the No 1 spot on the list. The South Bend-Mishawaka area fell two spots to No. 5.
David Brough with Anthony Realtors in Fort Wayne told Realtor.com that the real estate market in the city is “a relatively balanced market but leaning toward a seller’s market. Homes priced under $200,000 are in high demand and sell quickly. These homes usually have several offers on them.”
The ranking shows Fort Wayne’s median home list price as $335,000 for June, which is in the middle of the pack for the communities on the list.
“Fort Wayne shows up on people’s radar because of its affordability,” Brough said. “You can purchase a very nice home and live in a safe community with lots of things to do, at a low cost compared to other big cities around the country.”
The Evansville metro area, which was ranked No. 11 last year, fell all the way to No. 44 in the 2024 ranking.
The other three metro areas in the top five are Canton-Massillon, Ohio; Akron, Ohio; and Manchester, New Hampshire.