Three cities, three homes, one price: What $380,000 buys in Omaha, Indianapolis, and outside Raleigh, North Carolina

As many markets turn in favor of homebuyers and away from sellers, price relief could be on the way, though the median price of a home remains elevated at $380,000.

Inventory for homes reached 20% year over year in April, according to the National Association of Realtors. At the same time, sales for single-family homes and condos were the lowest for the month in 16 years.

These three homes in three different markets showcase what the median home price can get a buyer today.

Built in 1920, this Omaha cottage retains its charm but balances it with modern upgrades. The front porch and brick exterior open up to a time-appropriate floor plan, including an updated, all-black kitchen, arched doorway, built-in drop zone, and original wood floors.

“It’s rare to find an older home at this price point with such a thoughtfully redesigned open-concept kitchen, complete with custom cabinetry, hidden storage, and a large island,” said listing agent Nick Benner of Better Homes and Gardens Real Estate.

The three bedrooms are located on the home’s second floor, and a finished basement adds extra square footage to the 1,729 square feet. Outside, there’s an elevated deck with a pergola and a detached one-car garage.

Three bedrooms, two bathrooms

1,729 square feet

Year built: 1920

Lot size: 4,729 square feet

Parking: One detached car garage

Listing agent: Nick Benner of Better Homes and Gardens Real Estate

Average area home value: $275,594

This gutted and rehabbed home in the Near Eastside neighborhood of Indianapolis is completely new aside from its shell, according to agent David Adams. It sits on a street with other 100-year-old homes, with most remodeled and brought to modern day.

The home has three bedrooms and two bathrooms, and a kitchen with a butcher block island countertop. “If you cook, you’d love that,” said Adams.

Built in 1900, the home includes original chimney flues and fireplaces, though neither are operable. These old details are found next to modern aesthetics, with marble in both bathrooms, and black and white kitchen cabinets. The bold exterior is a dark green.

Three bedrooms, two bathrooms

1,688 square feet

Year built: 1900

Lot size: 7,231 square feet

Parking: Two-car detached garage

Listing agent: David Adams.

Average area home value: $176,309

Located 12 miles outside Raleigh, the Knightdale area is a bedroom community with many homeowners commuting into the city, said agent Shep Smith.

The current sellers removed interior walls to update the 2010-built home with an open floor plan. The kitchen includes a navy blue, 10-foot-long kitchen island, and the neighboring dining room includes matching built-in cabinetry with a beverage cooler.

The home includes a 2021-installed tankless water heater, new carpeting, new plumbing fixtures, fresh paint, and an electric vehicle charger.

Four bedrooms, three bathrooms

1,927 square feet

Year built: 2010

Lot size: 8,276 square feet

Parking: Two-car attached garage

Listing agent: Shep Smith with Berkshire Hathaway HomeServices

Average area home value: $398,572