Omaha Real Estate Market December, 2009
The numbers are in not just for how the real estate market fared in December but also for the entire year of 2009.
First for December. The number of homes for sale remained high and the rate of sales continued to slow. The month ended with nearly a twelve month supply of homes for sale.
|
December |
|
|
Total Number For Sale |
4838 |
|
Total Number of Accepted Offers |
408 |
|
Total Number of Closed Sales |
463 |
|
|
|
|
% of sellers that accepted an offer |
8.43% |
|
Absorption rate in months |
11.86 |
Now for the bigger picture. The number of existing and new construction homes sold in Omaha was up significantly over 2008. On the other hand while the sales prices were higher for the month of December compared to December last year, for the year prices were down slightly for existing homes and down a great deal for new homes.
Here are all of the market statistics.
|
Existing Residential Properties Closed: |
Dec-09 |
Dec-08 |
December 09 YTD |
December 08 YTD |
|
Total Existing Construction Sales |
441 |
532 |
9319 |
8166 |
|
Total $ Volume |
$64,773,298 |
$68,525,996 |
$1,382,336,958 |
$1,232,750,276 |
|
Avg. List $ |
$153,272 |
$137,477 |
$153,545 |
$157,004 |
|
Avg. Sold $ |
$146,878 |
$128,808 |
$148,335 |
$150,961 |
|
High Sold $ |
$1,400,000 |
$3,100,000 |
$1,639,000 |
$3,100,000 |
|
Median Sold $ |
$125,000 |
$115,000 |
$130,000 |
$131,000 |
|
Low Sold $ |
$5,150 |
$3,000 |
$3,000 |
$3,000 |
|
New Residential Construction Closed: |
Dec-09 |
Dec-08 |
December 09 YTD |
December 08 YTD |
|
Total New Construction Sales |
82 |
75 |
1223 |
1058 |
|
Total $ Volume |
$23,837,878 |
$21,210,900 |
$289,800,483 |
$300,427,442 |
|
Avg. List $ |
$290,560 |
$283,952 |
$238,295 |
$284,247 |
|
Avg. Sold $ |
$290,705 |
$282,812 |
$236,958 |
$283,957 |
|
High Sold $ |
$910,000 |
$954,890 |
$1,536,909 |
$2,000,000 |
|
Median Sold $ |
$256,698 |
$259,034 |
$215,000 |
$250,940 |
|
Low Sold $ |
$71,500 |
$118,900 |
$57,700 |
$28,000 |
To summarize, while more houses sold in 2009 there are still a lot for sale. The Omaha real estate market has picked up over the last year but at the same time prices are down.
Information was gathered from the Omaha Area Board of Realtors
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Hi Troy,
Looking at the numbers in your post it looks like there is a big inventory in your market to work with.The new constructions are doing much better and prices are down.Omaha Real Estate Market doesn't look bad at all.
Wishing a lot of sales in year 2010 !
Zijuzijazijana