The Nebraska real estate market is rapidly evolving, and if you have considered selling your home, now is the time to learn how to optimize your sale. The real estate market can be complicated, as there are many factors and considerations for home buyers and home sales.
We have prepared a guide to help you understand the best times and best months to sell your Nebraska home, highlighting additional considerations like the use of real estate agents, the impact of the school year schedule, and more. In addition, if you’re looking to sell your home quickly, we buy homes in Nebraska residents are looking to sell for fast cash, and we will let you know how.
As a principle, the housing market fluctuates in both pace and direction. These are indicators of house affordability, housing market strength, and whether the housing options are increasing or decreasing for buyers. Additionally, pace and direction fluctuation can signify whether homes are selling quickly or lingering on the market for extended periods.
Housing demand directly reflects how competitive the market is and can be determined if homes are selling above market price. This occurs when multiple offers are made on a home, facilitating bidding wars and driving the home’s price up. When there are few or no homes selling above the list price, it is indicative that the housing demand is low, and there is less competition.
House Market Overview in Nebraska
According to RedFin, Nebraska home prices are up 12.2% year-over-year, with the number of homes sold rising 7.9% as of May 2021. Alternatively, homes for sale fell 45.4%, with the average price of a home costing $247,375 in the United States. RedFin also reported that there were approximately 1,272 residential homes for sale at the time of publication.
A five-year trend chart shows that the homes selling above listing price were up +25.9 points year-over-year, suggesting that the real estate market is hot and housing demand is high.
A study conducted by List With Clever found that the average timeline to sell a home in the state of Nebraska is 106 days in 2021. This includes 71 days to be made a suitable offer and 35 days to close the deal. This timeline is 14% lower than the national average, demonstrating an average timeline of about 93 days.
Best Time of the Year To Sell Your House in Nebraska
If you have the flexibility to choose the time of year that you sell your house, you should conduct local research to determine the optimal time of sale for you and your priorities. Generally speaking, spring is the best season to sell your house in Nebraska, but a more pinpointed best time of year may depend on whether you are looking to sell quickly or for the highest price.
Familiarize yourself with your local housing market and list your home in a seller’s market if you can. A seller’s market is when housing demand is high, the inventory available is low, causing bidding wars to ensue and drive the sale price of your home up.
On a more granular level, Zillow recommends listing your home on the real estate market on a Thursday to ensure an optimal price point and sale timeline. Further to that point, Thursday listings are 1.5% more likely to sell above the initial asking price.
Additionally, if you’re interested in a fast sale, look into companies that buy houses in Lincoln or the surrounding area for cash. Who will buy your house for cash? Companies like Element Homebuyers offer a fair value for your property.
By requesting an offer, you can receive a quick idea of what you may be able to sell your home for in cash. The advantages of a trusted cash buyer are that you’ll save on repair costs, there’s less paperwork involved, and the closing is fast and stress-free.
Best Month of the Year To Sell Your House in Nebraska
The best month to sell your home in Nebraska depends on your personal goals and circumstances. If your main priority is selling your home at the highest price, June would be the ideal month to make the sale.
When comparing the monthly median sale price to the annual median sale price, Nebraska demonstrates an average sale price premium of $12,500 in June, the highest month of the year. Business Insider reaffirmed the June timeline, referencing the end of the school year as a desirable time for families to buy and sell.
Alternatively, if you’re looking into selling your house fast guided by professional realtor advice, May would be the best month of the year to sell your house in Nebraska. The sale price premium is still high at $9,500, and historically, homes in Nebraska have sold ten days sooner than the average in May.
While these insights generally apply state-wide, we encourage you to consult your real estate agent and conduct local market research to determine the most lucrative month for the sale of your home. There are additional local resources to assist in selling your Nebraska home, like Element Homebuyers.
Worst Time of the Year To Sell Your House in Nebraska
If you have the freedom to choose when to sell your home, it would be advisable to avoid the mid-winter months. While the exact worst month is dependent on what you find more daunting – a low sale price or to see your home lingering on the real estate market – the winter season is not an ideal time to sell.
Zillow found Sundays to be the worst day of the week to list your home on the real estate market, as they prove to linger on the market for approximately eight days longer than homes listed on a Thursday. The same research found that if a home was listed on a Saturday or Sunday, they were proven 1.3% less likely to sell above the listing price.
Worst Month of the Year To Sell Your House in Nebraska
The month in which you are likely to see your home linger on the market is February, with a historical average of 33 days. If the days on the market, or DOM, are high, it typically indicates that it is a buyer’s market. A low DOM signifies a seller’s market, as they are more likely to have competitive offers.
If your top objective is to make the highest sale, you should avoid selling your home in January as it has a demonstrated history to see homes sell at the lowest price of all months in a year.
There are various reasons why winter sales may be less lucrative, including shorter days, the busy holiday season, the ongoing school year, increased international travel, and cold temperatures.
Median Sale-to-List Ratio in Nebraska
The final price at which a home sells divided by the price at which it was listed equals the sale-to-list ratio. If greater than 100, the home sold for more money than its list price. Conversely, if the sale-to-list ratio is less than 100, the house sold for less money than its initial asking price.
The sale-to-list ratio for a given town or city can indicate whether the housing demand is high or low and whether or not the real estate market is strong.
When assessing state-wide data for Nebraska, Redfin found the average annual sale-to-list ratio to be 98.92%. The highest months were May and June at 99.90%, while the lowest months were January and November at 97.70% and 98.20%.
Whether you are looking for someone to “buy my house in Bellevue” or for someone to make a cash offer on your property in Lincoln, you must familiarize yourself with the various elements of the housing market, like supply and demand, the best time and best month of the year to sell, and sale-to-list ratios for a home sale.
We have determined that the best time of year to sell your Nebraska home is the spring season, while the best month is dependent upon your objectives. May is ideal for home sales if you are looking to sell quickly, while June is optimal for home sellers looking to turn the largest profit. Thursday is the best day of the week to list your home, as you are more likely to sell quickly and at a higher price point than to list on another day of the week.
Alternatively, the worst time of year to sell is the winter months. January and February are the worst months to sell, with historical data suggesting that a home listed in January or February will spend the longest time on the market and sell at the lowest price point relative to other months. Sundays have also been identified as the worst day of the week to list your home, as they are proven less likely to sell above the asking price.
There are additional considerations when choosing what time of year to sell your home, such as the holiday season, school year, warm or cold temperatures, and long or short days, depending on the season. Nebraska’s annual sale-to-list ratio rings in at 98.92%, with the highest months in May and June and the lowest months in November and January.