Here's what you can get for $300,000 in Omaha, Nebraska

Low inventory levels in the Omaha, Nebraska real estate market have helped create a competitive bidding environment.

While the city is maybe best known for "The Oracle of Omaha" -- Warren Buffett -- and Berkshire Hathaway, the city is also home to other major businesses like Mutual of Omaha and Union Pacific Railroad, a variety of cultural institutions plus several minor league and college sports teams.

As of August, the number of homes for sale in the greater Omaha area on the market was down 44%, while the median close price was up 10% year-over-year to $242,950, according to Great Plains Regional MLS.

The real estate group predicted the trend would continue in the fall as mortgage rates remain low. So here’s a look at what you can get with a $300,000 budget in Omaha:

Giles Ridge - $295,000

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This home features an open concept floor plan with two separate living spaces.

The 2,915-square-foot home includes five bedrooms, two bathrooms and two partial baths, according to the listing with Adam Briley of Berkshire Hathaway HomeServices.

The living room features a fireplace and is open to the kitchen with a breakfast bar and wine fridge. The master suite has a tray ceiling, a large walk-in closet and a bathroom with dual sinks and a separate shower and whirlpool tub.

The finished walkout basement opens to the large backyard. There’s also a deck overlooking the yard.

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Field Club - $280,000

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This 1923-built brick home has lots of historic charm with some tasteful updates.

The 1,613-square-foot home includes three bedrooms and two bathrooms, according to the listing with Kalee Hergert of NP Dodge Real Estate.

There is original woodworking and crown molding throughout the main floor. The original hardwood floors have been refinished on the main floor and upstairs. The updated kitchen features two built-in pantries.

Outside, there’s a big front porch in front and a two-tiered deck and a fenced yard in the back.

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