Welcome to this month’s Omaha ,Nebraska real estate market report brought to you by Eric L. Brown Realtor.
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Omaha, Nebraska Housing Stats
The average sale price for homes, both new construction and existing, in Omaha Nebraska during October 2019 was $288,457; this is up slightly from last October’s average of $288,260.
There were 1463 existing homes to hit the market in the Omaha area during October 2019, 108 of these were $99,999 or less, slightly down from 124 in this price range during October 2018. The median days on market for this price range was 8 days in October 2019 and in October 2018 the median days on market was 7 days.
There were 584 new listings in the $100,000 to $199,999 price range, up from 460 a year ago. The median days on market for homes in this price range in October 2019 was 5 days on market as compared to 6 days on market in October 2018.
There were 677 new listings in the $200,000 to $449,999 price range, up from 567 a year ago. The median days on market for homes in this price range in October 2019 was 8 days on market as compared to 11 days on market in October 2018. In this price range there was 1.6 months supply in October 2019 versus 1.8 months October 2018.
In the $450,000 and more segment there were 94 new listings to hit the market in October 2019. This is down from October 2018 when there was 107 new listings in this range. The average days on market in October 2019 for this price range was 21 days on market compared to 44 days on market in October 2018.
There is approximately 1.6 months of total existing inventory available (all price points combined), homes are averaging 7 days on market before being sold, and sellers are getting 100% of their original asking price.
In October 2019 there was 72 complete, never occupied new construction homes that hit the market. In October 2018 there was 74. The average price per square foot of new construction homes in the Omaha market in October 2019 was approximately $205.00. In comparison the average price per square foot in October 2018 was $192.00. The average days on market for all new construction homes was 36 in October 2019 as compared to 88 days on market in October 2019.
What Does This Mean For Buyers In Omaha Nebraska?
Buyers in Omaha Nebraska can expect to see more inventory available as the fall buying season comes to an opening.
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 Omaha Nebraska?