January Market stats
Hey it’s Realtor David Neese from OmahaRealEstate.com and here are our Omaha real estate market stats for January of 2016.
If you have a home to sell this is definitely the time to get it on the market as we are definitely cruising along in a hot seller’s market.
Comparing January of 2015 to 2016 we see some rapid acceleration in sales. Active homes for sale dropped 18.35%, from 2,964 to 2,420 which is a huge drop in inventory.
Average time on market for homes that actually sold dropped 28%, that’s right 28%! It was down from 57 days a year ago to 41 days this year. Mind you days on market always drags a bit in the winter here for some crazy reason. What is interesting is the size of the drop considering the harshness of this winter compared to last year’s winter.
Average sales prices are up 4% from one year ago! Existing residential homes median sales price, not new construction, was up a whopping 10% from the prior Januaries sales. Mind you this is only a January to January comparison and not representative of the entire year.
Homes on average are selling for 98% of list price.
If you are looking to buy a home make sure you are discussing what you need to do to prepare with your OmahaRealEstate.com Realtor as there are many things you need to be aware of to compete for homes in this hot market.