August 2010 Omaha Real Estate Market Report. Preliminary numbers are in and it doesn't look good. Active listings are up 11% compared to August 2009. Currently, there are 5,933 active listings, 1,285 pending and 599 sold listings for August 2010.
August 2010 August 2009 % change from 2009
Active: 5,933 5,322 Up 11%
Pending: 1,857 1,285 Down 31%
Sold: 880 599 Down 32%
The increase in active listings is not a surprise. The expiration of the federal tax credit has decreased the number of motivated buyers looking for homes. I personally think the market will be slow through the end of the year. Sold and Pending listings are both down roughly 30%. The increase of supply of active listings and decrease in demand for homes will definitely have a factor on home values. For buyers out looking are looking, now is a great time to buy a home. Sellers need to review there price and incentives they are offering buyers. Now is the time to consider offering 1 point towards the reduction in the buyer's interest rate.
Thanks for viewing my home market report and check out my website at http://www.omahareatypro.com/. If you're considering selling a home, I would appreciate the opportunity to market your home. If you are considering buying a home, be sure to check out my website and search the Omaha MLS for homes and when you are ready I would be happy to help purchase your new home.
Information was pulled from the Great Plains Omaha Board of Realtors Multiple Listing Service 9/1/10; OABR deems information reliable but not guaranteed. Prepared by Steve Lauver-REALTOR Data does not include any private home sales