Housing booms on the Omaha metro during the pandemic
OMAHA, Neb. (WOWT) – When looking to buy a home, experts say you may not want to wait.
There are currently about 620 homes in the greater Omaha area, including Council Bluffs.
“270 of these are currently under construction,” said Callie Yrkoski.
This leaves around 350 houses ready for occupancy. Callie Yrkoski, a real estate agent at Better Homes and Gardens, says that’s lower than normal.
If you’re looking to buy, homes only stay on the market for an average of one to three days.
“Inventories are low, demand is increasing … price is increasing,” Callie said.
Prior to the pandemic, the average home in the area sold for around $ 250,000. But that price is going up, it’s good news for those looking to sell.
“But what we currently see as the average price is $ 278,000, which is pretty high. It’s a nine percent increase over six months ago, ”Callie said.
However, if you’re looking to buy within the next year, says Yrkoski, be ready to pull out your wallet.
“A home that sold for $ 150,000 last year could sell for $ 175,000 this year. Maybe even $ 200,000, ”Callie said.
The pandemic affected the market’s inventory, prices, and even the location where most homes are sold.
“We saw houses with larger backyards, lake houses, and houses near parks. It has gained more value than the cityscape we’ve seen in the past, ”Callie said.
Yrkoski believes this is because people have more free time to be outside, especially families who work from home.
If you want to sell, says Yrkoski, don’t wait too long. She says to try to put herself in front of everyone else.
“Because when June rolls around you prime how many houses will be in the market,” Callie said.
Experts also say interest rates are historically low due to the pandemic and won’t rise anytime soon.
Correction: A source was misquoted in an earlier version of this story. 6 News regrets the mistake.
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