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Higher property values for residents in North and South Omaha

Posted: 6:16 PM, Feb 08, 2019
Updated: 2019-02-09 00:16:33Z
Higher property values and residents in North and South Omaha

OMAHA, Neb. (KMTV) — Omaha house values have grown higher than other parts of the Midwest and the U.S. according to a new housing study from UNO. And the places seeing the most value increase is in North and South Omaha.

Tyson Compton is a real estate agent with Keller Williams. He says these days more and more people are looking to buy homes in North and South Omaha. On average a house in those areas will only sit on the market for about two weeks compared to a normal market stay of 30 days. The main reason these houses are moving quickly is cash offers. "For a seller it's gonna be a lot more attractive because they don't have to worry about appraisals, inspections, or even financing so when those things get removed things can move kind of quick," said Compton.

He adds another reason people could be heading towards North and South Omaha communities is due to new construction costs going up a lit in the last few years causing affordability for first time home buyers to go down.