Omaha, Nebraska, is a vibrant city with a modern economy and the headquarters of multiple Fortune 500 companies. So many areas continue to grow in our great city, which means stable long term real estate investment. Growth continues for the economy, population, and real estate. In the past, Forb's magazine named Omaha the Best Bang for the Buck City, where housing and the cost of living are at down-to-earth levels.

 I know we’ve seen Omaha housing prices increase since then, but the same is true across the nation. Compared to much of the nation, Omaha is still the best bang for your buck for affordable real estate investment. Our friendly people, welcoming communities, and economic growth still attract families and investors seeking these affordable housing opportunities.

I’ve recently looked more deeply into affordable Omaha real estate and our latest Market Trends, and I share my findings here.  As we head into 2025, let's review 2024 market conditions. While this past year's economic climate has created a mixed bag for Omaha Area Real Estate, it’s exciting to see a steady demand for homes throughout the year despite fluctuating interest rates and home prices.

In 2024, Omaha experienced a 2.5% increase in home sale prices. Homes sold records show that the average home price is approximately $279,760. However, higher interest rates slowed the demand for homes in mid-2024, causing some homeowners to adjust initial listing prices to match buyers in the marketplace. These recent listing price adjustments and lower interest rates have combined to create more buyers in the marketplace as we wrap up 2024, which bodes well for the beginning of 2025!

Today's Important Market Information:

  • Recent home sale prices are averaging $279,760.
  • This average shows an increase of 2.5% over 2023 (Zillow).
  • How competitive is today's market: (Redfin) rates the market as still" very competitive," with their scoring system ranking of 84 out of 100
  • According to(Realtor.com) statistics, in August 2024, the median sale prices were approximately $285,000.

Tomorrow's Important Market Information:

The Omaha Housing Market Forecast for 2024-2025 predicts that late 2024 may introduce a slight value decrease of 0.5%. At the same time, the Federal Reserve should continue to lower interest rates. Market professionals also predict a 0.7% increase in area home prices by August 2025 (Zillow). These short-term market fluctuations and improving economic conditions mean an open opportunity window for home buyers to take advantage in the first half of 2025; energizing the market and increasing listing prices by next fall.

Omaha Housing Market Forecast

  • Current Average Home Price: $279,760
  • Forecast for September 2024: 0% change
  • Forecast for November 2024: -0.5% change
  • Forecast for August 2025: +0.7% change

It would be our pleasure to answer any questions you may have about buying or selling real estate in Omaha, NE.  Give us a call or send us an email.

(404)677-9024      [email protected]