Nebraska Real Estate Market Report – September 2024
Nebraska Real Estate Market Report – September 2024
The Nebraska real estate market continues to show robust activity, with a diverse range of opportunities for buyers, sellers, and investors alike. This month’s market report offers valuable insights into key areas, including Kimball, Scottsbluff, Douglas County, and Sarpy County, with a focus on the trends shaping single-family residential home sales.
Kimball, Nebraska: A Market for Affordable Homes
Kimball’s real estate market is trending toward affordability, with 10 new listings in September priced at an average of $123,000—significantly lower than the overall active listing average of $224,839. While only 3 homes sold, the longer average closing time of 189 days highlights the potential for buyers to negotiate favorable deals. For investors, this may signal a unique opportunity to enter a market where home prices remain competitive, but demand is steadily growing.
Scottsbluff, Nebraska: Balanced Market Dynamics
In Scottsbluff, 18 new listings were added to the market in September, with an average listing price of $241,921. The overall inventory of 52 active listings averages $290,598, reflecting a varied price range for potential buyers. 14 homes sold in the month, with an average closing price of $235,571. Homes are taking an average of 103 days to close, indicating that while the market remains active, the buying process is methodical. Brokers should note the steady influx of new listings and stable sales prices, making this a solid market for long-term investment strategies.
Douglas County, Omaha: A High-Demand Market
Douglas County experienced significant market activity in September, with 850 new listings hitting the market. These listings averaged $370,297, which is below the overall average listing price of $485,556 for the 1,153 active listings. This shift toward moderately priced homes is attracting buyers, as evidenced by the 428 homes sold with an average sale price of $365,014. Notably, the average time to close was just 16 days, signaling a fast-moving market. For brokers, this is an indication that homes priced competitively are being quickly absorbed, making it an excellent market for sellers looking for a swift transaction.
Sarpy County, Omaha: Steady and Competitive
Sarpy County is another market showing strong demand, with 383 new listings entering in September, averaging $399,945. These homes are priced below the $482,372 average of the 624 active listings, offering buyers more options in a competitive price range. With 192 homes sold in the month, and an average closing time of 21 days, Sarpy County remains a hot market for both buyers and sellers. Investors should take note of the quick turnover and competitive pricing, indicating a strong market for reasonably priced properties.
What Does This Mean for Brokers?
Brokers operating in these Nebraska markets should prepare for continued activity in both the entry-level and mid-tier price ranges. Sellers are seeing success with competitively priced homes, particularly in Douglas and Sarpy Counties, where quick closings and high demand are driving fast transactions. On the other hand, Kimball and Scottsbluff offer more affordable listings, catering to buyers and investors looking for long-term potential.
We recommend reaching out to clients who may be considering listing their properties, as these market conditions favor sellers who are prepared to price competitively. For buyers and investors, the current pricing trends offer a range of opportunities to find value, particularly in markets like Kimball and Scottsbluff.
If you have any questions or would like more detailed data on these market trends, don’t hesitate to contact our team. We’re here to support your success in these dynamic real estate markets.
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