Home values: Median prices in 12 cities

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Omaha, Neb.

A former model home, this new contemporary town home has an open floor plan with large windows in the living and dining rooms. The kitchen has a breakfast bar with pendant lighting, granite countertops, stainless steel appliances (including double-door refrigerator and smooth-top range), built-in microwave and adjacent laundry room.

The 20-by-12 master suite has a large walk-in closet and master bath with double vanity, granite countertops and five-foot shower with seating.

The other two bedrooms “are nice size — 11 by 14 — and they each have walk-in closets,” says Mike Egan, managing broker with Mike Egan Real Estate. A hall bath also has granite countertops, along with a combination tub/shower. Oak cabinets and crown molding are throughout the home as well.

“It’s just designed for low-maintenance,” says Egan.

Price: $138,900

Area median price: $137,600 (unchanged)

  • 3 bedrooms/3 baths
  • 1,700 square feet
  • Less than a 1/4 acre lot
  • Brand new with open floor plan
  • Patio
  • Two-car garage

Price trend:
In suburban Omaha, $135,000 to $140,000 “will buy a very, very nice three bedroom, two bath, with a two-car garage and 1,500 square feet — a new or nearly new home,” says Shawn Patrick Maloy, board president of the Omaha Area Board of Realtors, and broker and owner of Maloy Real Estate.

“Omaha is a unique city in that it was built on a river and moved west,” he says. “The farther west you go, the newer it is.”

In this price range, the incentive program has stimulated that market, Maloy says. “For the buyer, that side of the market is truly a seller’s market right now. The good houses of that size and price don’t stay on the market long, because buyers are capturing the federal incentive before it goes away.”

In Omaha this year, median prices have bounced from a low of $129,000 to a high of $137,600, according to figures from the National Association of Realtors. The median price of a home in the third quarter of 2009 is $137,600, up $100 from this same time last year.