Omaha Real Estate Market Report November 2009.
Home sales in Douglas county jump over 149% compared to November 2008. Sarpy County also saw a big jump on homes sale. The main factor is the US government tax credit for home buyers. Also contributing is historic low mortgage interest rates and a stabilizing economy.
An interesting side note to mention this month again. One thing I noticed today, as I was reviewing the market data, is the continued decrease in the number of Active listings compared to 2008 and 2007. In November 2007 there were 3,745 Active listings, November 2008 there was 3,398 and in November 2009 there are 3,091 Active listings, which is a decrease of 17.46%. I think this is a good sign for real estate because it brings the supply and demand for homes more in balance. The US government recently extended and expanded the home buyer tax credit until April 30, 2009. I expect after January 1 many home sellers will decide to sell in order to take advantage of the home buyer tax credit. If you are considering selling, please call me for a marketing presentation and valuation.
There was a dip in home sales from October and November 2009, which is a normal trend because real estate is cyclical and November, December and January are slower months for real estate.
Douglas County, Omaha Real Estate Market Report (Active, Pending, Sold):
Omaha, NE (All of Douglas County)
- Active (12/7/2009): 3,091
- Under Contract - Pending (12/7/2009): 685
- Sold Nov 1, 2009 to Nov 30, 2009: 610