{"id":4624,"date":"2023-08-14T16:43:30","date_gmt":"2023-08-14T16:43:30","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2023\/08\/14\/local-housing-markets-othello-osage-beach-and-vienna\/"},"modified":"2025-03-13T02:52:40","modified_gmt":"2025-03-13T02:52:40","slug":"local-housing-markets-othello-osage-beach-and-vienna","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2023\/08\/14\/local-housing-markets-othello-osage-beach-and-vienna\/","title":{"rendered":"Local housing markets: Othello, Osage Beach and Vienna"},"content":{"rendered":"\n

Local housing markets is a HousingWire magazine feature spotlighting housing trends and data<\/a> across the country.<\/p>\n\n\n\n

Othello, Washington<\/h2>\n\n\n
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\"Screenshot<\/figure><\/div>\n\n\n

Othello is known for its rich geological history, Basalt formations, stunning views and vibrant arts scene. It is also the city Jesse “Weno” Dominguez, <\/a>an agent at Imagine Realty Group, calls home. \u201cI absolutely love the Columbia Basin and the reason is that we are a unique market. We are very agricultural so there is a lot of farming but there is also a lot of diversity. It is a growing place,\u201d Dominguez said. The growth of Othello, and Adams County in general, over the past few years has resulted in what Dominguez describes as sporadic market conditions. <\/p>\n\n\n\n

\u201cIt will be slow for a few days and then we\u2019ll get this wave of interest and buyers and then it will slow again, but it keeps picking back up,\u201d he said. Despite these up and down conditions, the median list price of homes in Adams County hovered around $350,000 for the entire month of June, according to data from Altos Research. And while the seven-day moving average for single-family inventory was just 36 homes as of June 2023, it is far better than the 15 homes listed in mid-May of 2023. \u201cInventory was a huge issue the last few years, but we do have some inventory now across all price points, so at least buyers have choices now,\u201d Dominguez said.<\/p>\n\n\n\n

Osage Beach, Missouri<\/h2>\n\n\n
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\"Sunrise<\/figure><\/div>\n\n\n

Known as “the heart of the Lake of the Ozarks,” Osage Beach is a popular destination for vacationers and second home buyers. \u201cThe Lake of the Ozarks has more shoreline than California,\u201d Wade Covington, a local Century 21 Prestige Real Estate agent, said. \u201cIt is the Destin of the Midwest \u2014 tons of restaurants on the water, swim up bars. It is just a really good time.\u201d <\/p>\n\n\n\n

The lifestyle offered by Osage Beach and the Lake of the Ozarks has certainly attracted homebuyers. In June, the median list price of homes in Osage Beach was $626,966, less than $60,000 off the all-time high set in June 2022. \u201cThe market here has just skyrocketed over the past few years,\u201d Covington said. Since relocating to the area in 2017, Covington said the local market has gone from a $500 million market to a $1.3 billion market and he expects it to continue to grow. \u201cThere are still a lot of buyers, but if the Fed raises interest rates<\/a> more this year, that might start to cool down,\u201d he said.<\/p>\n\n\n\n

Vienna, Virginia<\/h2>\n\n\n
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\"Korean<\/figure><\/div>\n\n\n

Vienna was first settled in the1750s by Colonel Charles Broadwater. It was originally called Ayr Hill, named after the hometown of Broadwater\u2019s son-in-law: Ayr, Scotland. Today, Vienna is known for its top-rated schools, quaint neighborhoods and proximity to the nation\u2019s capital. The combination of these factors has resulted in a hot housing market<\/a>. <\/p>\n\n\n\n

According to Altos Research<\/a>, as of late June, Vienna had a \u201cstrong seller\u2019s market\u201d with a Market Action Index score of 47. A score of 30 denotes a balanced market. In addition, homes are sitting on the market a median of just 42 days. \u201cAll of the homes that we have sold recently have sold in the first weekend with multiple offers at $50,000 to $100,000 over list price with no home inspection,\u201d Casey Samson, the leader of The Casey Samson Team, said. According to Samson, properties his team lists are getting anywhere from three to 17 offers each. Despite his team\u2019s success, Samson has some worries. \u201cI\u2019m concerned about not having inventory,\u201d he said. \u201cI don\u2019t think people are going to leave 2.5% mortgages to take on a 6% mortgage, so I have been telling my agents to get used to these numbers for a while.\u201d<\/p>\n\n\n\n

Papillion, Nebraska<\/h2>\n\n\n
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\"housing<\/figure><\/div>\n\n\n

Developed as a railroad town in the 1870s, Papillion is now the county seat of Sarpy County and is home to many people who commute into Omaha, as well as military families for the Offutt Air Force Base. \u201cAbout 85% to 90% of our business is military clients and a lot of them choose this area because they want to stay close to the Air Force base,\u201d Brittney LaHayne, an agent for the local Better Homes and Gardens Real Estate, <\/a>said. According to LaHayne, the local housing market is quite different depending on what price point you are looking for. \u201cI am seeing a slow down for homes listed at $400,000 and above,\u201d she said. \u201cThey are still moving, but it is slower \u2014 like two weeks. But at the $300,000 and under price points, homes are still flying. I mean like 24 to 48 hours and they are gone.\u201d <\/p>\n\n\n\n

Altos Research data<\/a> confirms these trends. Homes with a median list price closer to $300,000 have a median days on market of 35 days, while those with a median price of $453,150 are typically on the market for 133 days. Like other agents, LaHayne is concerned about inventory. \u201cIt has been a problem for many years now, but the last two years we have really struggled keeping up with the amount of buyers that we have versus the number of homes we have in our market,\u201d she said. \u201cEven new construction, for the last couple of years, has not been able to keep up with the amount of people that we have coming to the area.\u201d<\/p>\n\n\n\n

This article was originally published in the August\/September issue of HousingWire Magazine. Click here<\/a> to read the full issue. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Local housing markets is a HousingWire magazine feature spotlighting housing trends nationwide using Altos Research data.<\/p>\n","protected":false},"author":34740,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[1760],"class_list":["post-4624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"\nLocal housing markets: Othello, Osage Beach and Vienna - RealTrends - Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/preprod.realtrends.com\/blog\/2023\/08\/14\/local-housing-markets-othello-osage-beach-and-vienna\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Local housing markets: Othello, Osage Beach and Vienna\" \/>\n<meta property=\"og:description\" content=\"Local housing markets is a HousingWire magazine feature spotlighting housing trends nationwide using Altos Research data.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/preprod.realtrends.com\/blog\/2023\/08\/14\/local-housing-markets-othello-osage-beach-and-vienna\/\" \/>\n<meta property=\"og:site_name\" content=\"RealTrends - 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