Welcome to this month’s Lincoln ,Nebraska real estate market report brought to you by Eric L. Brown Realtor.
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Lancaster County/ Lincoln Nebraska Housing Stats
Existing Home Sales Data October 2019
The average sale price for existing homes in the Lincoln Nebraska area region MLS (Multiple Listing Service) during October 2019 was $192,000.00; this is up from the October 2018 average of $178,000 which is a 7.57% increase and change from last year.
There were 457 existing homes to hit the market in Lincoln area region during October 2019, 204 of these were in the $100,000.00 to $199,999 bracket, down from 238 in this price range during October 2018. The median days on market for this price range was 6 days in October 2019 and was the same in October 2018.
There were 220 new listings in the $200,000 to $449,999 price range, up from 186 a year ago. The median days on market for homes in this price range in October 2019 was 15 days on market as compared to 18 days on market in Ocotber 2018.
In the $450,000 and more segment there were 20 new listings to hit the market in October 2019. This down from October 2018 as there was 38 new listings in this range. The average days on market in October 2019 for this price range was 27 days on market compared to 59 days on market in September 2018.
There is approximately 1.8 months of total existing inventory available (all price points combined), homes are averaging 9 days on market before being sold, and sellers are getting 99.10% of their original asking price.
In October 2019 there was 36 complete, never occupied new construction homes that hit the market. In October 2018 there was 20. The average price per square foot of new construction homes in October 2019 was approximately $210.00. In comparison to October 2018, the average price per square foot was $157.00. The average days on market for all new construction homes was 35 in October 2019 as compared to 11 days on market in October 2018.
What Does This Mean For Buyers In Lincoln Nebraska?
Buyers in Lincoln Nebraska can expect to see more inventory available as the Fall/Winter buying season begins.
The average sale price has held steady this year, and in many price ranges, there are slightly less homes listed compared to this time last year.
Buyers should have financing in place and be ready to act when they find a property that matches their criteria. Be sure to search for properties in your price.
Give me a call today so i can help find your happy home! and i will be glad to help you.
What Does This Mean For Sellers In Lincoln Nebraska?