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Omaha Homes for Sale Market Data - January 2013

By
Real Estate Agent with Berkshire Hathaway HomeServices Ambassador Real Estate

Omaha Homes for Sale Market Data - January 2013

Omaha Home Prices
We have seen a steady decrease in the number of homes for sale in the Omaha area for the past year. The Active Homes for Sale in Omaha as of January 2013 was 3652, down 575 from a year ago.  The active real estate for sale in January increased slightly. The big change was there were considerly less homes sold than in the previous month.  So while we've been consistently at a 4-5 month inventory of homes on the market in Omaha since May 2012, that number increased in January to 6.43 percent.  

Here is a snapshot of the Omaha Real Estate Market.  For those of you who just want the market data for Omaha, Nebraska,  Click here to go right to the Market Data for additional information.

Average Home Sale Price: $162,335
The average sale price in Omaha is up 12% compared to this time last year. 

 Average Home List Price: $166,323
The avage list price is up 11% compared to this time last year.

 Average Days on Market: 104

 

View Recent Omaha Homes for Sale Real Estate Market Data Reports Here
Omaha Homes for Sale Real Estate Market Report – January 2013

 

Omaha Home Sellers
The overall decrease in the inventory of homes has created a seller's market, which occurs when there are more buyers than homes for sale.  In the Omaha seller's market, multiple offers are being submitted on homes for sale resulting in sellers negotiating better price and terms, including some buyer's paying more than list price. Home sellers need to be cautious when accepting offers above list price, particularly when the buyer is financing their mortgage.  Appraisals are based on the last six months of home sales and since the market is now turning upward, it's important to make sure the appraiser considers that in their valuation.  So yes, get excited about multiple offers but make sure you discuss potential appraisal issues with your real estate professional so you can make the best decision for you and your family. 

Buyer closing costs (seller concessions) are still being paid by Omaha Home Sellers but not as much as we saw in 2011 and parts of 2012.  The concession amount are getting smaller; home buyers are starting to pay for their own home warranties; and frivoulous repair requests are starting to go away. 

  

Omaha Home Buyers
There are still great homes out there at good prices.  You can still purchase your Omaha dream home as long as you:  

1. Make your best offer FIRST and do not wait to write the offer.
2. If you wait, the odds are good that home is either no longer available or, already has at least one offer on it.  I showed 10 homes to a buyer last week and she wanted to "think about it". Eight of those ten homes are now under contract.  Her dream home is now gone.
3. Be prepared to bring more money to closing.  Seller concessions are decreasing.
4. Be prepared to pay for your own home warranty.
5. Be reasonable when requesting home repairs.  Sellers will typically take care of any health or safety repair. If it's not a health or safety issue, be prepared to take care of it yourself after moving in.  Even new homes need regular maintenance.

 

Preparing Your Omaha Home For Sale
Homes that are selling in the Omaha real estate market are still those that are priced right and in good condition.  Many buyers are still looking for homes that have been updated.  If you are looking to get your home on the market soon, you should consider if you could get a better return on investment by updating kitchen and bathroom knobs, light fixtures, flooring, fresh paint and yes, especially counter tops. If you are open to making updates before putting your home up for sale, be sure to speak with a professional Realtor first.  I don't want you making updates unless we are reasonably confident this will either help get you better positioning in the market and hopefully, a better return on your investment. 

 

Omaha Real Estate Report Summary- Market Data Report for January
The average home list price is $166,323.  The list price decreased 10% from the previous month.
The average home sales price is $162,335.  The sales price decreased 10% from the previous month. 
The absorption rate is 6.43 which means if no other homes come on the Omaha Real Estate market, it will take 6.43 months to sell all of the active homes for sale in Omaha.  

 

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If you would like to know how the Omaha real estate market conditions could impact the sale of your Omaha home for sale or even delay your move, call me at 402-880-9027.  If a new home is in your future and you want to know the minute new homes hit the market, check us out at www.GoOmahaHomesForSale.com.  

Ask about our list of homes that are NOT YET ON THE MARKET!  


Authored by Connie Watts

2013 Omaha Housing Market Data

  

Omaha Home Sale Prices 2010-2013

Average Days on Market in the Omaha Real Estate Market

Omaha Housing Inventory and Home Sales 2012-2013

New Listings and Omaha Home Sales 2012- 2013

Omaha Home Sold Prices Compared to Homes that Sold

Comments (3)

Tammy Emineth
Personal SEO - Website SEO and Real Estate Marketing - Frenchtown, MT
Content Marketer, SEO Teacher, Website Fixer

Thank you Connie for subscribing to my blog. This is a very concise and well thought out blog post of your area. I'm sure you'll get lots of hits from it. Thanks again and have a great weekend

Feb 08, 2013 01:26 AM
Connie Betz
Berkshire Hathaway HomeServices Ambassador Real Estate - Omaha, NE
Top Omaha Realtor - Omaha Homes for Sale

Thanks Tammy! I appreciate it!

Feb 08, 2013 01:43 AM
Charles Stallions Property Manager
Charles Stallions Real Estate Services - Pace, FL
Pensacola, Pace & Gulf Breeze Property Management

Hi Connie, great report and should be most helpful to the folks in Omaha 

Feb 26, 2014 11:34 AM