Omaha Real Estate Market Report Compliments of Connie Betz
Omaha Real Estate Market Report Compliments of Connie Betz

Enjoy this Real Estate Market Report for the Omaha and surrounding communities of Bellevue, Elkhorn, Gretna, Papillion, La Vista, Ralston, Bennington, Blair, Fort Calhoun, Waterloo, Valley, Springfield, Louisville and Plattsmouth.

See all listings available for sale and set up a home search to get notified as new properties come on the market.

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Average Home Price Ranges

The Average Sale Price for single-family homes in the Omaha area.

Average Sold Price This Month
 Existing Homes $231,624
 New Construction $354,545
 Townhouse $203,090
 Villa $294,612
 Condo $188,933

Housing Market Predictions

As we start the fourth quarter of 2019, buyer and seller demand for housing remains strong due to low interest rates and strong economy.  The 30 year interest rate now sits at 3.5% compared to 4.89% a year ago. The low interest rates are making home ownership more affordable for first time home buyers and increasing the buying power of move up buyers.  It probably won’t have much of an impact on the market due to continued inventory shortages and price increases in new construction and home prices under $250K.

Homes priced under $300,000 have been in a seller’s market for most of the year leaving the rest of the market in a neutral market.

The upcoming winter season, buyers will find fewer homes coming on the market but also less competition for the home for sale.

 

 

 

New Construction
New Construction

NEW CONSTRUCTION

New construction homes saw big gains in September although the market is much slower with prices continuing the rise. This is due to increased labor costs, shortage of labor available, material & land costs. Due to the rising costs, buyers are starting to look at existing homes as an alternative to new construction.

Listings increased 43% over the same time last  year, pending sales increased 42% and Total Inventory decreased 9.9%. Median Closed Price increased 8.4%, Days on Market increased 41.9% and Months Supply of Inventory decreased 9.9%.

Year to date, new construction is still down 7.5% with closed sales lagging also at a decrease of 14.6% as compared to the same time last year.

 

Existing Home Sales
Existing Home Sales

 

 

EXISTING HOME SALES

New listings decreased 5.2%; Pending sales decreased 5% and Total Inventory decreased 10.9% for Existing Homes. Median Closed Price Increased 11.1%, Days on Market remained flat and Months Supply of Inventory decreased 5.9%.

New & Existing Home Sales

This month, a total of 1769 homes were sold in the Omaha and surrounding areas which represents a increase of 9.7% over the same time last year and a decrease of 1.2 % homes sales compared to YTD last year.

#Homes Sold Sept 2018 #Homes Sold Sept 2019 #Homes Sold YTD 2018 #Homes Sold YTD 2019
1,613 1769 15,554 14,981

Existing Home Sales

This month, a total of 1,483 existing homes were sold in the Omaha and surrounding areas, which is a 5% increase compared to the same time last year.  When we take a look at Year to Date home sales of existing homes, there was a decrease of 3.1% in homes sold.

 Closed Sales 2018
September
 Closed Sales 2019
September
 Closed Sales YTD 2018
September
 Closed Sales YTD 2019
September
1.413 1.483 13,505 13,085

Average Days on Market

The Average Days on market represents the number of days between when a property is listed and when an offer is accepted in a given month.

Days on Market – 12 Month Look Back

Days On Market Until Sale - September 2019
Days On Market Until Sale – September 2019

Days on Market by Property Type

Average Days On Market Until Sale - September 2019
Average Days On Market Until Sale – September 2019

Inventory of Homes for Sale

The total number of Existing Homes for sale at the end of the month in the local Omaha area was 1,701 which is -5.3% over the same time last year.

New Construction was at 732 homes for sale at the end of the month, which is -9.9% over the same time last year.

Inventory of Homes for Sale September 2019
Inventory of Homes for Sale September 2019

 

 

Inventory of Homes for Sale - September 2019
Inventory of Homes for Sale – September 2019

 

Percentage of List Price Received

Due to the low inventory of homes for sale, homes in Omaha are selling very close to the price they are originally listed for, which is great new for Homes Sellers in the Omaha area.

New Construction homes are up .6% which is the second time this year that they are not in the negative.  Existing homes are also up .5%.

Percentage of List Price Received - September 2019
Percentage of List Price Received – September 2019

Expired Listings in Omaha Nebraska

There were 131 home listings that expired in the local area, down from 174 the previous month. 2157 listing contracts expired so far in 2019.

The seller may have relisted with the same agent, another agent, or may have postponed selling their house altogether. Another seller option is deciding to lease the property for rental income rather than selling.

Mortgage rates are still very low and Omaha is still a hot market for the home seller.

Bellevue Market Values

The Bellevue Nebraska Housing Market ended the month with the average home sold price of $213,546, an increase of $3,578 from the previous month.

Average Sold Price
 Single Family Home $217,282
 Townhouse $174,900

Papillion Market Values

The Papillion Nebraska Housing Market ended the month with a decrease in the average Single-Family Home Sold Price as compared to the previous month.

 Last Month  This Month
$304,11 $293,609

Elkhorn Market Values

The Elkhorn Nebraska Housing Market had an average sales price of $421,531, an increase over the previous month.

Bennington Market Values

The Bennington Nebraska Housing Market ended the month with the average home price of $312,174 which is a decrease over the previous month.

LaVista Market Values

The LaVista Nebraska Housing Market ended the month with the average home price of $198,120 which is a decrease of 18.7% from the previous month.

Ralston Market Values

The Ralston Nebraska Housing Market ended the month with the average home price of $149,900, which is an increase of $40,000 from the previous month.

Home Values by City

The Average Home Sale Price of Homes for Sale in Omaha and surrounding Communities by City

 City  Average Sold Price
 Bellevue $217,282
 Bennington $182,000
 Blair $269,424
 Elkhorn $421,531
 Fort Calhoun $662,500
 Fremont $203,761
 La Vista $201,476
 Lincoln $2239,714
 Louisville $155,333
 Omaha $229,193
 Papillion $292,107
 Plattsmouth $216,375
 Ralston $149,900
 Springfield $220,000
 Valley $329,772
 Waterloo $525,985

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Average Home Sale Prices by Zip Code, City & County

Search the average home sale price by city, zip code or County.

Zip Code City County Average Sales Price
 68005  Bellevue  Sarpy $195,979
 68007  Bennington  Douglas $314,720
 68008  Blair  Washington $263,775
 68022  Elkhorn  Douglas $468,989
 68023  Fort Calhoun  Washington $662,500
 68028  Gretna  Sarpy $331,822
 68046  Papillion  Sarpy $299,096
 68048  Plattsmouth  Cass $209,605
 68059  Springfield  Sarpy $220,000
 68064  Valley  Douglas $316,041
 68069  Waterloo  Douglas $525,985
 68102  Omaha  Douglas $215,900
 68104  Omaha  Douglas $152,467
 68105  Omaha  Douglas $157,616
 68106  Omaha  Douglas $175,108
 68107  Omaha  Douglas $119,792
 68108  Omaha  Douglas $114,811
 68110  Omaha  Douglas $52,250
 68111  Omaha  Douglas $70,583
 68112  Omaha  Douglas $118,358
 68114  Omaha  Douglas $241,165
 68116  Omaha  Douglas $269,404
 68117  Omaha  Douglas $140,000
 68118  Omaha  Douglas $274,964
 68122  Omaha  Douglas $197,776
 68123  Omaha  Douglas $227,935
 68124  Omaha  Douglas $233,540
 68127  Omaha  Douglas $187,386
 68128  Omaha  Douglas $208,919
 68130  Omaha  Douglas $328,628
 68131  Omaha  Douglas $159,877
 68132  Omaha  Douglas $267,105
 68133  Papillion  Sarpy $269,857
 68134  Omaha  Douglas $192,932
 68135  Omaha  Douglas $246,994
 68136  Omaha  Douglas $296,139
 68137  Omaha  Douglas $189,046
 68138  Omaha  Sarpy $207,639
 68142  Omaha  Douglas $345,500
 68144  Omaha  Douglas $247,276
 68147  Bellevue  Sarpy $201,000
 68152  Omaha  Douglas $258,428
 68154  Omaha  Douglas $278,435
 68157  Omaha  Sarpy $161,250
 68164  Omaha  Douglas $213,744
 Douglas $240,768
 Sarpy $253,789
 Cass $220,843
 Washington $270,940

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