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 closed sale price for all homes both existing and new construction in Omaha Nebraska during February 2020 was $232,241; this is up slightly from last February average of $217,702.
There were 1050 existing homes to hit the market in the Omaha area during February 2020, 112 of these were $99,999 or less, slightly up from 88 in this price range during February 2019. The median days on market for this price range was 11 days in February 2020 and in February 2019 the median days on market was 16 days.
There were 402 new listings in the $100,000 to $199,999 price range, up from 380 a year ago. The median days on market for homes in this price range in February 2020 was 12 days on market as compared to 11 days on market in February 2019.
There were 449 new listings in the $200,000 to $449,999 price range, up from 396 a year ago. The median days on market for homes in this price range in February 2020 was 22 days on market as compared to 23 days on market in February 2019. In this price range there was .9 months supply in February 2020 versus 1.1 months February 2019.
In the $450,000 and more segment there were 86 new listings to hit the market in February 2020. This is down from February 2019 when there was 97 new listings in this range. The average days on market in February 2020 for this price range was 51 days on market compared to 66 days on market in February 2019.
There is approximately 1.4 months of inventory available (all price points, new and existing combined), homes are averaging 30 days on market before being sold, and sellers are getting 98.8% of their original asking price.
In February 2020 there was 84 complete, never occupied new construction homes that hit the market. In February 2019 there was 82. The average price per square foot of new construction homes in the Omaha market in February 2020 was approximately $177.00. In comparison the average price per square foot in February 2019 was $187.00. The average days on market for all new construction homes was 81 in February 2019 as compared to 75 days on market in February 2020.
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?