Omaha Real Estate Market

Discussion of current events, news, the latest happenings in Omaha

Moderators: Coyote, nebugeater, Brad, Omaha Cowboy, BRoss

FrankJones
New to the Neighborhood
Posts: 30
Joined: Wed Apr 02, 2014 4:10 pm

Re: Omaha Real Estate Market

Post by FrankJones »

I've got a nephew who sold his house very recently (they close soon). He lives near Benson High School. Sold it in 1 day, for $11,000 over asking price. I'd say that's a Sellers' Market!
User avatar
skinzfan23
City Council
Posts: 9134
Joined: Mon Feb 09, 2004 11:26 am
Location: Omaha/Bellevue

Re: Omaha Real Estate Market

Post by skinzfan23 »

Didn't know where to put this but here are some numbers from the current real estate market in the Omaha area from the World Herald:

Housing construction on the rise for both those who own and rent
But John Heine, a commercial broker for Investors Realty who tracks the multifamily market, said the amount of real-time apartment construction is remarkable as well.

He said 3,200 new apartments were delivered to the metro area in 2020, compared to 1,787 the previous year and about 2,000 the year before that.

Generous bank lending and low interest rates for apartment ventures have encouraged developers to keep building, Heine said, despite the rising cost of materials and land.
Image
User avatar
Busguy2010
County Board
Posts: 5295
Joined: Sat Apr 09, 2011 7:32 pm
Location: North Central Omaha

Re: Omaha Real Estate Market

Post by Busguy2010 »

There might be more of the new single family homes if lots are plotted out smaller and thus more restrictive on home size and value. And yes, I am hinting at getting back to a more urban style street layout in new developments. Not developer owned, but owner developed. I wonder what it would take.
User avatar
Brad
City Council
Posts: 1033311
Joined: Sat Feb 28, 2004 6:03 pm
Location: Omaha, NE
Contact:

Re: Omaha Real Estate Market

Post by Brad »

If you missed the first part of Grow Omaha this past Saturday, they had some interesting Omaha Real Estate Market statistics.

Ending Jan 31, 2022:
765 Single Family Houses for sell in the metro - (Down 13%)
771 Closings in Jan 2020 - (Down 8.6%) Due to lack of Inventory
Median Sale Price for New Construction $427,000 - (UP 15.7%)
Median Sale Price for Existing Homes $240,000 (UP over 14%)

ita
County Board
Posts: 4365
Joined: Thu Jul 12, 2018 4:11 pm

Re: Omaha Real Estate Market

Post by ita »

Busy? That’s an understatement for the Omaha commercial real estate market
Dan Rafter
Pandemics, soaring inflation and rising interest rates. Omaha’s commercial real estate market has remained resilient during all of them.

Why? What makes Omaha’s commercial real estate market such a strong one? Why has demand for multifamily, industrial and retail properties in this city remained so high for investors? Why has leasing and sales activity remained so strong throughout most of Omaha’s commercial sectors?

The commercial pros working this market point to a pro-business government that encourages development and entices companies to open national or regional headquarters here. They also cite the strong workforce in Omaha and the commitment city leaders have to constantly improving the neighborhoods that make up Omaha.

That last point is especially important today. Several high-profile commercial developments are springing up across Omaha and its suburbs. These new office towers, mixed-use developments and multifamily properties are pumping new dollars into the city. And they are attracting new residents and companies.

So even though the national economy is far from stable today, Omaha’s commercial real estate market is showing few signs of slowing.
User avatar
nativeomahan
County Board
Posts: 5316
Joined: Fri Nov 12, 2004 2:46 pm
Location: Omaha and Puerto Vallarta

Re: Omaha Real Estate Market

Post by nativeomahan »

Yes, but where will they find the people to work in these newly built projects? We have an extreme labor shortage now.
ricko
Parks & Recreation
Posts: 1345
Joined: Mon Dec 11, 2006 9:54 pm

Re: Omaha Real Estate Market

Post by ricko »

nativeomahan wrote: Sat Nov 19, 2022 11:36 am Yes, but where will they find the people to work in these newly built projects? We have an extreme labor shortage now.
Twitter?
User avatar
nativeomahan
County Board
Posts: 5316
Joined: Fri Nov 12, 2004 2:46 pm
Location: Omaha and Puerto Vallarta

Re: Omaha Real Estate Market

Post by nativeomahan »

😂
ita
County Board
Posts: 4365
Joined: Thu Jul 12, 2018 4:11 pm

Re: Omaha Real Estate Market

Post by ita »

A full stop? Not even high interest rates can do that to Omaha’s CRE market
Dan Rafter
A slowdown, not a full stop. That’s how Omaha’s commercial real estate professionals describe the impact of higher interest rates on sales, leasing and development activity in their market.

Omaha has long boasted a resilient commercial real estate sector, one that doesn’t experience the high peaks of some markets but also doesn’t see the low valleys that other cities suffer. And that is holding true today, even as the Federal Reserve Board continues to raise interest rates and inflation keeps slamming consumers.
...
David Levy, partner with Omaha law firm Baird Holm, said that higher rates, along with the higher costs of construction, have slowed projects in the city and its suburbs from either starting or reaching fruition. What it hasn’t done is caused developers to scrap these projects completely.

“We are still seeing an active commercial real estate market here,” Levy said. “Deals are happening. People are interested in new projects. There is a positive outlook. The interest rate situation and construction costs are maybe slowing things down. But they are not causing projects to stop or not happen.”
...
As Stratman says, those higher rates made new developments more challenging to pencil in. But in good news, those delayed developments are now starting to move forward.

“The tone has changed,” Stratman said. “We are going to see the next wave of construction starting now. We will see an increase in construction in the coming quarters.”
Pretty long article on Omaha's current and future CRE market. Interesting read, but not the best written; mostly positive outlook.
Post Reply