Omaha Home Prices Plummet 1/2%!

Real Estate Agent with Keller Williams Greater Omaha

O.K. maybe one half percent isn't so bad. What about taking an extra week to sell, though?

As Satan rushes to the hardware store to stock up on mittens and ice melt, the real estate bubble has burst in Omaha. Not since 2001 when the average sales price dropped nearly 3%, has the Omaha real estate market been so gloomy.

According to recently released figures from Trendgraphix on the Omaha MLS, the median sales price has dropped .47% from $141,333 in 2006 to $140,667 in 2007. Market times have taken a toll, as well. Successful sellers found it took and average of 67 days to sell compared to 60 days in 2006.

If it's this bad at the middle of the pack, imagine how many million dollar homes have just sat there. Well, they all didn't just sit there. A dozen homes sold in 2007 for at least $1,000,000.

We realtors have been hit hard with the lower sales prices and longer market times. A real estate agent may have found collecting $20 less in commissions based on this drop in median sales price. The horror doesn't end there though. We also had to wait an extra week to get paid. Outlandish!


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