I’m sure you’ve heard by now, but we are in a home shortage. Omaha and the surrounding areas currently have almost half the number of available homes as we did a year ago, while the number of buyers has stayed constant. This shortage has created a feeding frenzy.
We’ve dug into the data to get a complete picture and here’s what we found. When we ran the numbers, there were 1,095 active homes in the entire MLS. As a matter of fact, this number includes homes listed in Lincoln’s MLS, which illustrates how low this number actually is.
New Construction Accounts for Just Under Half
If you break down the number of active homes, about 530 of those are in the general Omaha Areas, including Douglas, Sarpy, Washington, and Dodge counties. Of those 530 homes active in the Omaha Metro, about 255 of those are new construction, and only approximately 60 of those are completed and move-in ready. The rest of those homes are in different stages of construction, with some that haven’t even broke ground yet. This means a buyer could be a year out from the home being complete and ready for occupants.
After breaking down the numbers, we can see that there are only 243 available homes for sale in the entire metro. To put in perspective, Omaha is the 57th largest Metropolitan area in the U.S. with just over one million residents. Which means that we desperately need more houses on the market!
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*Numbers pulled from the GPRMLS/Info Sparks