Page 36 - AreaNewsletters "Oct 2020" issue

H O ME & G A R D E N
The Reality Real Estate
By Kay Rowe, HomeSmart Realty Group and Embrace Life LLC Now is the Time to Make Your Move
The rising home buyer demand and fewer homes for sale have created market conditions that are perfect for getting top dollar for your home. In combination with historically low mortgage interest rates, right now is the best time in years to sell your house and make your move. Here’s our top three local market statistics to get you moving.
1. Rising Home Buyer Demand and Constrained Supply. The inventory of homes forsalehasdecreased36.9%forexistinghomes and15.7%fornewconstructionintheOmaha Area Region. There’s a significant demand
October 2020 • Castle Rock “AreaNewsletters”
with little inventory creatingacompetitive market for buyers making multiple offer situations more common.
2. Increasing Home
Sales Price. In the
Omaha area, last
month’s average
existing home sale price increased nearly 10% from July 2019. Additionally, days on market has decreased 7.7% for existing homes and 20.2% for new construction. Home asking price growth is higher now than it was before the pandemic hit.
3. Money is Going Further. According to Freddie Mac’s August report, average interest rates on a 30-year mortgage are below 3%. Buying a home at today’s historically low rate can save you significantly over the life of your home loan.
Click ad to reach out to Kay Rowe for your real estate or mediation needs.
Real Estate
&
Mediation
Statistics provided by the Great Plains Multiple Listing Service for July 2020.
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