Omaha's Elite Real Estate Group

Tuesday, May 5, 2015

What Are the Latest Numbers for Omaha Real Estate?

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Hey everyone, welcome back to our latest market snapshot. Today we are going to go through the numbers for March 2015.

Let's start off by talking about the average days on market. Right now, we are sitting at an average of 53, but homes in lower price points are selling much quicker than that.

Our inventory is sitting right around 3 months, keeping us in a neutral market. One month from now, we should be sitting square in a seller's market, with less than 3 months of inventory.

One important factor if you are thinking about purchasing a home in the next couple months, is that you want to be set up on an e-alert system. When you have this set up for you by your agent, you will get an email every time a home that matches your specific criteria hits the market. This will allow you to reach out to your agent ASAP and set up a showing.

The average sales price in Omaha has increased, and now sits at $191,000, which is an excellent reflection of the growing strength of Omaha's economy.

Finally, interest rates still remain steady between 3.75% and 4%. They are low now, but we don't know when, and by how much, they will rise. But we know it will happen soon.

Thanks for taking the time to check out our blog today. We really appreciate all the feedback we have been getting from you! If you are interested in buying or selling, or just have a question for us, give us a call or send us a quick email.

Friday, April 10, 2015

What Real Estate News is Shaking Up Our Local Market?

There are many great Omaha area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at 402-957-1116 for a FREE home buying or selling consultation to answer any of your real estate questions.

Hey there everyone, we have a few pieces of very exciting news to share with you today.

First off, we are excited to announce a new partnership with Berkshire Hathaway HomeServices. The technology they offer and the systems they have in place will allow us to do an even better job of serving all of our clients in Omaha.

In addition to the exciting announcement that we have joined forces with a new company, we were also just featured in a local news story on KMTV Action News! The Omaha real estate market is really heating up, and they wanted to ask us some questions about the current state of the market and why homes are selling so quickly right now.

You can watch the full story in the video above, but we wanted to pick out a few of the most important pieces of information from the video that have to do with our market. Here they are:

Home sales are up more than 13% from where they were at this time last year.
Our team has sold over 200 properties so far in 2015 alone.
Our inventory is low, the lowest we have seen it in 8 or 9 years.
Homes priced between $150,000 and $200,000 are the homes that are selling fastest.
The average buyer looks at 5-7 homes before they find the right one.

As you can see, people are becoming more confident in the economy and, in turn, more confident when buying a home. We are excited to see what the future holds for our real estate market.

If you have any questions for us, or are thinking about selling a home yourself, give us a call or send us an email. We look forward to hearing from you!

Tuesday, March 10, 2015

Market Snapshot for January 2015

Starting with this post, we are excited to be giving you a monthly market snapshot for the Omaha real estate market. We'll go over current conditions in the metro real estate market throughout the year, and review each month's numbers with you. Let's start with January.

In the month of January, our inventory stayed steady at around 5 months, but as we get into the spring and summer months, that number will drop, and homes will start selling a lot faster.

Right now, homes are selling in an average of around 60 days. In the coming months, that number will probably fall near 30 days or fewer.

One great thing about our team is that our average days on the market is 1/4 of the current average. Our agents are selling homes in an average of just 16 days. The reason for this is that our team does 3 things exceptionally different than other agents in town:

1. Professional staging for each property.
2. Professional photography for each property.
3. Professional videography for each property.

Next, let's talk about the average sale price in Omaha. In January, the average sale price in Omaha was $168,000. This is a little lower than the few previous months, but we expect this figure to rise as we get into the spring and summer.

Lastly, let's discuss interest rates. They have stayed near historic lows for the past year and we expect them to hang around their current rates for another year. Right now, you can get a typical 30-year fixed mortgage with an interest rate of 3.5-4%.

If you have any questions, or are considering buying or selling in Omaha, let us know. Give us a call or send us an email. We would love to help you achieve your real estate goals!

Thursday, January 29, 2015

Omaha Real Estate Snapshot: 2014 Year In Review

The new year is here, so today we want to give you an update on the numbers for last year. We'll go over what happened in 2014, and how it will affect our market in 2015. First, let's talk about inventory.

All year in Omaha we saw about 3-4 months of inventory. This puts us in a neutral market for most of the year, aside from a few summer selling months.

The average days on market for a home in 2014 was 48 days, which is exciting. Our team is equally as excited to announce that our average time on the market was down to just 30 days in 2014, and over half of our homes sold in less than one week.

The average sales price increased this past year as well. The figure now sits at $182,000, up by about $6,000 in the last year. We expect the average sales price to continue to increase in 2015 by an additional $6,000-$10,000, which is great news for homeowners in the metro.

Now, what about interest rates? They stayed flat at around 4% all year long, but are hovering near 3.6% right now. If you have been waiting to buy, it's likely you may never see a rate this low again.

If there is anything we can help you with or if you have any questions at all, feel free to give us a call or send us an email. We look forward to talking with you soon!

Thursday, November 20, 2014

October 2014: Omaha Real Estate Snapshot

Hello, and welcome back to another addition of Omaha's Elite Group's Market Snapshot! Here are the numbers for October:

Average days on market: 45
Closed units: 913
Inventory: 4.1 months
List-to-sale: 98%
Interest rates: 4%-4.25%

What does all of this mean? Well, 45 days on market is a great number - it's only 7 days more than we saw in September. This means that if you were to list your home today, you could expect a contract within 45 days. We took a look at all the listings we sold this year and over half of our homes actually sold quicker; if your home is in good condition and priced properly, you can expect a contract in only two or three weeks.

The number of closed units is down about 10% since September, but that's to be expected as the colder weather sets in and the holidays approach. Despite the four months of inventory, we're still in a neutral market; buyers can still find great deals out there and sellers can still sell close to listing price. The list-to-sale ratio has stayed pretty steady at 98%, so you can expect to sell for 2% under the list price. Finally, interest rates are still incredibly low at 4%-4.25%. If you're investing, you're probably going to get rates over 5%, whereas FHA loans are going for a little under that 4% mark.

We want to thank everyone who has visited our blog throughout the year, we've been getting a great response. If there is anything specific you would like us to cover in these market updates, don't hesitate to reply. We would love to touch base on any topics surrounding the real estate market.

We appreciate the support, and have a great day!

Thursday, October 16, 2014

Omaha Real Estate Market Update for October 2014

We are very excited to share with you today another market snapshot for the Omaha real estate market. We have a lot of great numbers to show you, so let’s get started:

The average days on market for a home is at 38 days, down from 43 days in August.
There were 1,043 closed units in September.
Our inventory is steady, right at 3.6 months. There are still a lot of good homes out there for purchase if you are looking for one this Fall.
The list-to-sale ratio is at 97%. Sellers can expect to sell their home for 97% of asking price, while buyers can expect to have the seller pay almost all closing costs. This is a great atmosphere for both buyer and seller.
Interest rates have stayed low all year, hovering around 4%.

Anytime you are thinking about buying or selling a home in Omaha, we are here for you. We would love to come by and give you an in-home market evaluation of your property, even if you don't plan on selling quite yet. If you are a buyer, we'd love to talk to you about your needs and what you are looking for in your next home.

Friday, September 19, 2014

Omaha Real Estate Market Snapshot for Fall 2014

Today we have another market snapshot for you, so you know exactly what's going on in real estate. We have some intriguing statistics we'd like to share with you. Let's get started:

The average days on market in Omaha is currently at 43 days.

Homes are taking about 7 days longer to sell than they did last month, but 43 days is still a great figure for this time of year.

1,171 homes closed in August.

Our inventory is at 3.2 months, with 3,754 homes currently on the market.

The average list-to-sale price is at 98%.

You can expect to get your home sold quickly and for a lot of money. We are also very close to a seller's market. Buyers are benefiting, too. Interest rates are still around 4.25-4.5%. These rates won't be around forever, and locking one in at this low rate could save you thousands in the long run.

If you have any questions about the Omaha market, or about anything else real estate related, let us know. We are always looking for new video topics, so keep them coming via phone or email.