Market Update: Buyer’s or Seller’s Market?

Each month I post three useful reports for the Omaha & Council Bluffs Real Estate Market:

• 12 Month Median Days on Market
• 12 Month Median List Price
• 12 Month Price Reduced Property Count

Are there any trends? If days on market are growing, perhaps the list price is dropping, but most importantly, the price reduced property count is going up, the market is probably cooling towards a buyer’s market.

Conversely of course, if median days on market is dropping with list prices going up and price reduction count down, the market is heating up.

There’s more to this of course, depending on your property type and many other factors. However, these reports provided by the St. Louis Fed are very helpful.  

Please contact me with questions!