Nebraska’s real estate market is experiencing a period of stabilization, characterized by modest price growth, increased inventory, and extended listing durations. Here’s a comprehensive overview:
🏠 Statewide Market Overview
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Median Sale Price: In January 2025, the median home sale price in Nebraska was $275,100, reflecting a 0.8% increase from January 2024.
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Average Home Value: As of April 2025, the average home value stood at $271,934, marking a 2.8% year-over-year increase.
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Homes for Sale: In April 2025, there were 5,411 homes for sale in Nebraska, a 0.9% increase compared to the previous year.
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New Listings: The number of newly listed homes was 2,488, up 1.8% year-over-year.
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Months of Supply: The average months of supply remained at 2 months, indicating a relatively tight market.
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Median Days on Market: Homes spent a median of 45 days on the market in April 2025.
📊 Market Dynamics
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Homes Sold Above List Price: In April 2025, 25.9% of homes sold above list price, a decrease of 6.5 percentage points from the previous year.
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Price Drops: Approximately 29.2% of homes experienced price drops, up from 22.0% in April 2024.
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Sale-to-List Price Ratio: The sale-to-list price ratio stood at 98.8%, indicating that homes are selling slightly below their listing prices.
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Mortgage Rates: As of mid-May 2025, the average 30-year fixed mortgage rate in Nebraska is approximately 6.92%, contributing to affordability challenges for buyers.
🌆 Regional Highlights
Omaha
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Median Home Price: Omaha’s median home price has reached approximately $800,000, reflecting significant growth in the local market.
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Market Trends: For the first time in decades, Omaha’s housing market has begun to surpass Lincoln’s, marking a major change in the dynamics of Nebraska’s two largest cities.
Lincoln
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Market Position: Historically, Lincoln’s housing prices consistently outpaced those of Omaha. However, recent trends indicate a shift, with Omaha’s market now leading in terms of home values.
🏘️ Rural Revitalization Efforts
In an effort to combat population decline and stimulate economic growth, Pawnee City, Nebraska, is offering a $50,000 down payment assistance for newly built homes. This initiative aims to attract new residents and revitalize the local economy.
🔮 Market Outlook
The Nebraska housing market is expected to continue its trajectory of modest price growth and increased inventory through the remainder of 2025. While affordability remains a concern, especially with mortgage rates stabilizing around 6.9%, the increase in inventory provides more options for buyers. Regional variations will persist, with areas like Omaha experiencing steady growth, while rural communities implement innovative strategies to attract new residents.