Is it still a buyer’s market today in Omaha? As experts in the Omaha real estate market, we get asked this question a lot.
The answer isn’t as simple as yes or no.
The State of the Market for Buyers in Omaha Nebraska
First off, it really depends on the property type and location.
Single-family homes in great locations that are priced well have been flying off the shelves. There’s a lot of demand in the market for certain areas, while others can seem like ghost towns.
Buyers are often looking for the same thing – good neighborhoods, access to transportation, shopping, good schools, close to work, etc. Properties that deliver all these are definitely a hot commodity. Sellers with a highly desirable property are in control of the market.
But for condos and townhouses – especially those a little off the beaten path, or with some funky features – it can be quite a different story. Prices were down in certain areas of Omaha, but seem to be rebounding as the rental market increases.
Investment properties are in demand. The massive amounts of foreign cash flooding in to invest in US real estate have impacted the Omaha market in unique ways.
Overall, those people in a position to pay cash for properties have been picking up the good deals in the marketplace.
Lots of sellers are trying out speculative prices just to see if anyone bites, but most investors are walking away from deals that don’t pencil out.
Financing is still a major obstacle for buyers. Banks are being incredibly strict, requiring lots of money down and even changing their terms at the last minute. It’s not uncommon for approved buyers to get their loans pulled right before closing escrow, although it’s getting better than it was just a couple of years ago.
Overall the markets remain incredibly polarized – there is a lot of action at the very top and the very bottom, with the biggest challenges in the middle.
Sound confusing? It is. But We Can Help.
There’s a lot of shakeup in the US economy still taking place, and the markets are moving fast in lots of directions at once.
We’re investing in Omaha because we believe in the community and the people here.
If you need to sell a property near Omaha, we can help you.
We buy properties like yours from people who need to sell fast.
Give us a call anytime 402-595-8841 or fill out the form
over here today if you’re looking to sell a Omaha house fast!
Still not sure if now is the right time?
There’s a reason you are searching for the information about the market conditions in Omaha Nebraska and It’s likely that you have been considering the sale of your property for some time now. We are here to help you find the best possible solution! If you need to sell fast because of the circumstances; sell privately because the house is too much of a mess to show publicly; live out of state and don’t have time to deal with the sale process; or any other situation you may find yourself in.
Kaizen Property Solutions has the expertise in the Omaha real estate market and can advise you what to expect with all the options available to you.
Fix it? List it? or Sell to an Investor? We can help you with all three and you may even choose to keep it if that’s what works best for you. We don’t charge anything for the initial consultation, so don’t hesitate to reach out today!
National market info to help you decide
There are many ways to look at the local market conditions and compare to the national averages. For example, the national average home value fell from $433,000 to $418,000 over the last year nationally, but in the Omaha area our average sale price went up from $348,000 to $376,000.
Here is a link to some other resources: Brett Reid Group – November Update