Whether you’re buying or selling your home, there are a lot of things to consider, and prime among them is your local market.
In real estate, supply and demand is everything. The Nebraska market has seen steady growth since the recession and is expected to continue growing at a sustainable pace. One of the reasons for that is Nebraska’s good economy, which like its real estate market, has seen steady growth.
Keep in mind that seasonal changes can affect supply and demand. Particularly in a state like Nebraska that deals with weather extremes, buyers and sellers should be aware of some of the seasonal fluctuations in real estate sales.
2019 Real Estate Market Forecast for Nebraska
Overall, Nebraska has a reliable and incredibly affordable real estate market. The median home value in Nebraska is just $164,700 — $62,000 cheaper than the national median. Nebraska home values went up 6.8% over the last year and are expected to increase another 3.1% over the next year. Many families choose Nebraska for its affordability and good economy. Nebraska’s unemployment rate is just 2.9%, compared to a national average of 4.0%.
There are also several Nebraska markets that are great for investors. Where in Nebraska you live will impact your home’s value, but for the most part, Nebraska doesn’t see the drastic price differentials that exist in some other states.
2019 is expected to be a year of stable increases for Nebraska home values. The job market in Nebraska is on the rise and the demand for housing is expected to increase; both Nebraska’s economy and real estate market are expected to continue their steady growth over the next year.
When Is the Best Time to Sell a House in Nebraska in 2019?
The Nebraska real estate market is hot and it’s currently the hottest selling time of the year: spring. Spring offers buyers both faster sales and higher median sales than the rest of the year.
You can get even more specific than spring and nail down the perfect month to put your house on the market. Across the country, May is the best time to list your home.On average, homes listed in May sell for $1,600 more and six faster than homes listed the rest of the year.
Urban and suburban Nebraska markets follow the national trend of early May. Rural and sparsely-populated parts of the state, however, are more difficult to time.
The Nebraska real estate market is expected to maintain its steady growth throughout 2019. It’s possible that rising interest rates across the country will negatively impact buyer confidence, but your real estate agent can help you get past that hump. A good agent will be able to help you find the right buyer.
When Is the Best Time to Buy a House in Nebraska in 2019?
When timing the market, it’s important to consider your priorities. Buyers looking for the lowest prices should generally aim to buy in fall or winter, while buyers looking for the most options without regard to price should look towards spring and summer. And be aware that prices in Nebraska are expected to rise throughout the year.
Timing the market can be difficult. If you’re unsure of how to time your purchase, be sure to check with a local real estate agent for expert guidance.
If you’re looking for the lowest possible prices, start looking in the fall and aim to buy the fall or winter. In fall and winter, there are fewer homes on the market but also far fewer people looking to buy.
Nebraska winters are harsh. Homeowners selling from November through February are often selling because they have to, not because they want to, and that can lead to great deals — if you can find them.
Biggest Selection of Homes
If selection is more important than price, spring is for you. April has the most listings of any month, and April, May, and June are by far the three most popular months for new listings. When you’re looking for your dream home, having a lot of selection is a great place to start.
Unfortunately for buyers, spring is also the most expensive time to buy in Nebraska. In the spring selling season, with the most availability also comes the most competition. Even in the slower years after the recession, Nebraska homes have sold well in the spring.
Middle Ground: Good Selection & Good Prices
If you want a middle ground between the craziness of spring and the lull of winter, try looking at the end of summer. There’s a larger selection of homes available than in the fall and winter, and unlike in spring, houses will be priced to move.
Homeowners who had hoped to sell in spring or summer, but didn’t, will start to lower their prices. Sellers will want to move before the weather gets cold. Parents want to move before the school year starts. And because the end of the season attracts fewer buyers, there should be good deals available. This is especially true for Chesapeake Bay and other locations on the coast.
Learn More: The Ultimate Guide for Moving to Nebraska
Whether you’re buying, selling, or both, your first step should be finding a good local real estate agent. An experienced local real estate agent can be invaluable in helping you through the process. Real estate agents are experts in their markets and often have a better idea of upcoming trends than anyone else.
From timing the market to strategies for competitive pricing and offers to help negotiating, finding a great agent gives you the best possible chance of coming away with an optimal outcome.
Clever Partner Agents are all top rated in their fields and locations. To connect with a Partner Agent, fill out our online form today for a no-obligation consultation.