2020 will go down as a very unusual year for Real Estate in the Omaha area.  The year started with a boom with a record February.  Then the COVID-19 Pandemic hit its full stride in early to mid March.  The Real Estate Market came to a standstill while the world figured out what comes next.

However, the market rebounded quickly and 2020 will be another record year for Real Estate sales volume, prices, and growth.

As you can see in the above graphic March – June 2020 were below average.  Then the market rebounded nicely with above average months for entire 3rd Quarter.  The Spring push was just delayed a couple months and the demand continued without slowing down.

The oddest factor about the 2020 3rd Quarter stats is that while the sales volume continued to rise even though inventory levels have reached record lows.  Inventory levels are down over 48% at the end of the 3rd quarter and continue to drop.

Low Inventory and high demand have pushed the prices up to where the average sale price of and existing home in the Omaha area is now over $260,000!  Of course, homes priced correctly are selling fast and for above asking price.  It’s too early to predict what 2021 will bring, but this sales remain steady as we finish up an odd year.

Chris & Jennifer Bober are Realtors with Team Bober, a group of REALTORS® at Nebraska Realty in Omaha, NE offering a wide range of real estate services including home and new construction sales, land and farm sales, and auctioneering services. For more information please call Chris at (402) 312-5076 or email him at Chris@NebraskaRealty.com. TeamBober.com