How is the Omaha Real Estate Market?

The Omaha real estate market is currently experiencing a shift that benefits both buyers and sellers. With the decrease in new listings and pending sales, the market is becoming more competitive, leading to an increase in the average closed price. As a buyer, it is important to be aware of these changes, so you can make informed decisions when it comes to purchasing a new home. According to recent statistics, the number of new listings for existing homes in Omaha has decreased by 16.8% compared to the same time last year. This decrease may be due to the current economic climate and uncertainty caused by inflation. However, this also means that there are fewer homes on the market, making it more competitive for buyers. Similarly, the number of pending sales has decreased by 18.8% compared to the same time last year. This means that there are fewer homes under contract, giving buyers more time to make decisions and potentially negotiate a better deal. Despite the decrease in new listings and pending sales, the average closed price has increased by 7.1%. This means that homes are selling for more money, which is good news for sellers. However, this could also mean that as a buyer, you may need to adjust your budget or expectations when searching for a new home. As we continue to navigate current economic conditions, it is important to keep an eye on the real estate market in Omaha. While the decrease in new listings and pending sales may seem daunting, it also means that there is less competition for buyers. Additionally, the increase in average closed price shows that the market is still healthy and thriving. If you are in the market for a new home, it is crucial to work with a trusted and experienced real estate agent who can help guide you through these changes in the market. Together, you can navigate the current state of the Omaha real estate market to find the perfect home for you and your family.