Omaha Home Prices Down in July

"In July, home prices fell substantially from the month before, with a median listing price of $353,950. The number of listings on the market grew 27%, which is a bigger increase than normal for this time of the year in Omaha, and homes are also selling faster than at the same time last year. Typically, home prices in Omaha tend to fall in July. And the most recent data shows that the price per square foot decreased by 0.5% compared with the month before."

"In July, there were 1,125 homes for sale in Omaha-27% more than the month before and 27% more than the same time last year. And there were 704 new listings, which is 11% less than the month before and practically unchanged from the same time last year. Nationally, active inventory rose by 15% in July, and the number of new listings fell by 6% over the same period."

"Homes in Omaha take an average of 33 days to sell, according to July figures, which is slower than usual for this time of the year. This is seven days more than the previous month and three days less than the same month last year. For comparison, nationally homes spent an average of 51 days on the market in July."

In July, Omaha median listing price declined to $353,950, reflecting a substantial month-over-month drop and a 0.5% decrease in price per square foot. Active listings rose 27% from the previous month and 27% year-over-year, totaling 1,125 homes for sale. There were 704 new listings, 11% fewer than the prior month and essentially unchanged year-over-year. Homes in Omaha averaged 33 days on market in July, seven days longer than June but three days shorter than July last year. Nationally, home prices decreased 1.2%, active inventory increased 15%, new listings fell 6%, and average days on market was 51 days.

Read at SFGATE