Here’s my update on where the Omaha real estate market is headed.
The real estate market has been pretty crazy recently, but what does that mean for you? Today I’ll explain what’s going on in our market.
If you’ve been looking to sell a home recently, you probably know we are in a strong seller’s market. There are a record-high number of buyers competing for a record-low number of homes. Homes are selling extremely quickly, with the average home going under contract within two days.
So, where are we today, and where might we be headed? In the greater Omaha area this February, we can see that we had only 657 homes for sale, and an average of 109 homes were going under contract every day. This means that if no new homes were entering the market, I would be out of a job in about a week.
Obviously, this hasn’t happened, and a big part of that is a recent shift in the market. As new construction catches up to demand, more people are willing to put their homes on the market. This is leading to an increase in inventory and perhaps a more balanced market.
If you are a buyer in this market and you’ve been feeling frustrated, give my team a call. We know the area, and we will do our best to get you your dream home at a great price. We are always willing to help.