Omaha Market Report for June 2012

Market Report for Omaha for June 2012

The numbers are in for June and things continue their upward trend. The total number of homes listed for sale in June was 4,733. 1,066 of those were placed under contract.

As you can see, the number of houses on the market are up over last month, the number of houses placed under contract are down slightly over last month and the number of houses closed are down slightly. The absorption rate for last month was 4.1, which means it would take 4.1 months to sell all the houses available at the current rate. That's slightly looser than in May, where it was 4 months.

While the number of houses that have gone under contract have gone down over last month, they have increased over this time last year. What this chart doesn't show is that while the average home price has hovered at around $210,000 for the last three months, the average selling price has increased from $162,000 to $183,000. The days on market has gone down from 71 days on market to 62 over those same three months.

Overall, the market is neutral right now. It's not an advantage to either the buyer or the seller.