Welcome to this month’s Lincoln Nebraska real estate market report brought to you by Eric L. Brown Real Estate Agent.
If you are in the market for a new home, be sure to use my home search tool to find properties in your price range. Also. feel free to give me a call and we can answer your home buying questions.
If you are thinking of selling your home, you can take advantage of our free home valuation tool to get an idea of your home’s worth. We can list and market your home to qualified buyers to get your home sold quickly.
Lancaster County/ Lincoln Nebraska Housing Stats
Existing Home Sales Data February 2020
The average sale price for existing homes in the Lincoln Nebraska area region MLS (Multiple Listing Service) during February 2020 was $209,932; this is up slightly from the February 2019 average of $203,499.
There were 304 existing homes to hit the market in Lincoln area region during February 2020, 131 of these were in the $100,000.00 to $199,999 bracket, down from 184 in this price range during February 2019. The median days on market for this price range was 13 days in February 2020 and was 14 days in February 2019.
There were 125 new listings in the $200,000 to $449,999 price range, down from 161 a year ago. The median days on market for homes in this price range in February 2020 was 19 days on market as compared to 32 days on market in February 2019.
In the $450,000 and more segment there were 24 new listings to hit the market in February 2020. This is down slightly from February 2019 as there was 26 new listings in this range. The average days on market in February 2020 for this price range was 63 days on market compared to 110 days on market in February 2019.
There is approximately 1.62 months of total existing inventory available (all price points combined), homes are averaging 33 days on market before being sold, and sellers are getting 97% of their original asking price.
In February 2020 there was 47 complete, never occupied new construction homes that hit the market. In February 2019 there was 34. The average price per square foot of new construction homes in February 2020 was approximately $210.00. The price per square foot was also $210.00 in February 2019 so remaining unchanged. The average days on market for all new construction homes was 59 in February 2020 as compared to 23 days on market in February 2019.
What Does This Mean For Buyers In Lincoln Nebraska?
Buyers in Lincoln Nebraska can expect to see a continuation of low inventory of existing homes.
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?