What are you hankering for when you buy a home in Omaha? Good space and great bones? You bet. Nice neighborhoods and highly rated schools? Check. But when you put all of those different factors into a grinder, there’s one thing that comes out the other side: price appreciation.
Homes coming out of the grinder have appreciated tremendously. We already know that the West Coast houses have soared, but how about the Mid-West. Is it increasing in value—and if so, by how much?
The data team at realtor.com® crunched the numbers to find these appreciation sensations. And they aren’t the usual suspects.
Residents of “flyover country,” your time has come! For years, you’ve listened to your East or West Coast pals complain/brag/babble about soaring home values and bidding wars. It turns out that the cities increasing most in value are actually more often found smack-dab in the middle of the affordable American heartland. (Make that affordable for now.)
The designation we bestow each month based on high demand and low time-on-market include:
Median home list price: $259,400
1-year percentage change: 20.7%
3-year percentage change: 62.1%
5-year percentage change: 73.5%
When you think of the Midwest, a few characteristics might come to mind—like maybe a slower pace of life. But you’re crazy if you think this applies to the Omaha housing market. It’s running at warp speed right now.
“I thought it was great last year, but it’s on fire this year,” says Judy Dooley, a real estate agent at Nebraska Realty in Omaha.
If you’re hoping to get a home here for under $250,000, you’d best be quick. That might surprise home buyers who might have balked at the median home listing price of $160,000 back in 2014. Ah, memories. These days, there are more buyers than sellers.
And that’s because the Omaha economy has come roaring back, thanks to job growth in both the healthcare and financial sectors. It helps that the region is home to Fortune 500s like Berkshire Hathaway, Union Pacific Railroad, and Kiewit Corporation. In September, the region’s unemployment rate stood at just 2.6%. Heck, even Yahoo has an office here
The other cities are:
If you are looking for a great place to live, Omaha has it. And, if you want help when you get here, call us: Styl Properties, Inc. at 402 999.0577.
As investors, we are in business to make a modest profit on any deal. However, we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. We offer the simple truth about your home and how we can help you sell it fast to resolve any situation.
If you’d like to give us a ring, we would be more than happy to spend some time with you to help you understand the process and to get all of your questions answered. You can reach us at 402 999.0577.