Market Analysis

Found 20 blog entries about Market Analysis.

As we ease into new routines and look forward to a post-pandemic future, one thing remains certain: America desperately needs more homes. That is according to the June 2021 data released by the Great Plains Regional MLS.

School’s out, and as vaccination rates rise and America enters a new normal, the U.S. housing market continues along at a frenzied pace, with low interest rates and limited inventory fueling record high sales prices. Eager buyers are making multiple offers, some for well over asking price, while others are making offers on homes sight unseen.

The Bottom line:

The increase in sales prices comes with a slight decline in existing home sales nationwide, as homebuyers struggle with declining affordability amid a lack of inventory,

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According to the May 2021 data released by the Great Plains Regional MLS, the housing market shows no signs of slowing as the weather warms and pandemic restrictions ease across much of the country. Strong buyer demand, fueled by low mortgage rates, continues to exceed the near historic low supply.

 

The Bottom line:

Sales prices are surging as a result of the nationwide inventory falling way below what it was at this time last year. And this trend is likely to continue for some time.

Let’s take a look at some of the numbers from May 2021:

May 2021 Omaha Area Real Estate Statistics

Average Sold Price: $295,911 (Up 14.3% from May 2020)
Homes Sold: 1,355 (Up 5.4% from May 2020)
New Listings: 1,640(Down 13.5% from May 2020)
Pending

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April was another strong month for home sales. That is according to the April 2021 data released by the Great Plains Regional MLS.

The busy spring market continues to see many multiple offer situations driving sales prices above asking price. With such strong activity, by the time a property sale closes, the market may have already moved higher than that sold price suggests. Such markets can create stress and frustration for prospective homebuyers, who are frequently having to submit offers on multiple properties before they are able to secure a purchase.

 

The Bottom line:

Housing affordability remains an issue while strong buyer demand and low inventory show no signs of easing soon. And this market trend is pointing to a continuation through

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According to March 2021 data released by the Great Plains Regional MLS, normal spring increases in sales activity, coupled with relaxing COVID-19 policies, created a very busy March real estate market as buyer demand continued largely unabated in the face of rising home prices and mortgage rates.

 

The Bottom line:

Inventory remains too low to bring the market back into balance. So expect a busy and competitive market in the coming months.

 

Let’s take a look at some of the numbers from March 2021:

 

March 2021 Omaha Area Real Estate Statistics

Average Sold Price: $278,205 (Up 14.2% from March 2020)
Homes Sold: 983 (Down 5.7% from March 2020)
New Listings: 1,640 (Down 11.8% from March 2020)
Pending Listings: 1,339 (Down 3.3% from

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Mortgage interest rates ticked a bit higher in February, but remain below their February 2020 levels. That is according to February 2021 data released by the Great Plains Regional MLS.

 

The Bottom line:

A new month of data but the same story. Inventory is really low and homes are selling fast. 

Let’s take a look at some of the numbers from February 2021:

February 2021 Omaha Area Real Estate Statistics

Average Sold Price: $232,019 (Up 18.9% from February 2020)
Homes Sold: 731 (Down 12.2% from February 2020)
New Listings: 1,059 (Down 25.5% from February 2020)
Pending Listings: 1,051 (Down 6.7% from February 2020)
Days on the Market: 20 Days (Down 33.3% from February 2020)

All data from Great Plains Regional MLS. Report © 2021

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Omaha continues to be a seller's market, but there is one small change in the data to pay attention to.

 

If you are a homeowner, you are seeing a lot of appreciation in your home. For 2020, home prices appreciated 8.3%. In 2019, home prices went up 5% compared to 2018. 

One interesting change in the data is the 9.5% increase in new listings compared to December of last year. Omaha has an inventory problem so if more homes hit the market, that's a good thing.

December 2020 Omaha Area Real Estate Statistics

Average Sold Price: $267,219 (Up 8.3% from December 2019)
Homes Sold: 1,191 (Up 13.1% from December 2019)
New Listings: 930 (Up 9.5% from December 2019)
Pending Listings: 842 (Up 17.1% from December 2019)
Days on the Market: 16 Days (Down

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According to new data released by the Great Plains Regional MLS for November 2020, the Omaha area real estate market is still very strong.

Home values continue to rise while selling quickly (on average in just 15 days).

Inventory is very low so it looks like homes will continue to sell very quickly as prices continue to rise. It remains a seller's market in Omaha.

November 2020 Omaha Area Real Estate Statistics

Average Sold Price: $271,189 (Up 8.4% from November 2019)
Homes Sold: 1,207 (Up 7.8% from November 2019)
New Listings: 1,061 (Down 8.5% from November 2019)
Pending Listings: 958 (Down 0.6% from November 2019)
Days on the Market: 15 Days (Down 31.8% from November 2019)

All data from Great Plains Regional MLS. Report © 2020

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Especially this year, it can make a huge difference to a community to spend money at locally-owned, independent businesses. When it comes to filling your home with holiday spirit and decor, there’s no better option in Omaha than North Downtown’s Prairie in Bloom Marketplace. To learn more about decorating tips and trends, we tapped owners Mark Kanitz and Lukas Rix. Read on for Prairie in Bloom’s pro suggestions for decking the halls.  


Courtesy of Prairie in Bloom 

Keep it Classic

Good quality faux greenery never goes out of style. Whether it’s a simple spray or Garland piece, you’ll always be able to layer new trends into simple, timeless greens. They make a rich base layer to start from for any seasonal decor vignettes, according to Kanitz and

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Are you worried about interest rates? In the video below, I take a look at current interest rates and where they are headed in 2020.

Currently, interest rates are low so if you already own a home, it might be a good time to refinance.

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I love talking about real estate.

And there is never a shortage of people asking me about the current market. Everyone wants to know.

The answer is complicated because it depends on what “market” you are asking about. Are you a buyer? A seller? What price point? Location?

In general, homes are selling fast. Really fast. Unless you are talking about the luxury market (let’s say $400k and up). Those homes are taking longer to sell.

Homes between $100k and $250k in many neighborhoods are selling in days if not hours. And many with multiple offers.

How is this market compared to last year?

Compared to this time last year, there are FEWER homes on the market. And home prices (not including new construction) are up 9%. Yes, 9%! If you are a

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