As we step into June, Omaha’s housing market remains steady, showing signs of both resilience and subtle shifts that buyers and sellers alike should take note of. Following the momentum of spring, the local market continues to reflect modest growth in pricing while inventory tightens slightly.

Home prices have seen a slight upward trend. The median sale price in the Omaha area reached approximately $280,000 in April 2025, representing a 1.8% increase compared to the same time last year. Similarly, the average home value rose to about $291,349, which is up 1.4% year over year. Meanwhile, the median listing price was recorded at $339,900, while the median sold price landed at $300,000. These figures suggest that most sellers are still commanding strong offers, though bidding wars may be cooling in some segments.

The pace of sales remains brisk. Homes in Omaha spent an average of just 14 days on the market this April, a slight increase from the nine-day average seen in April 2024. While this indicates a marginal deceleration, homes are still moving quickly relative to national trends. A notable 38.4% of homes sold above their asking price, demonstrating that while buyers are exercising more caution, the market remains competitive for well-priced properties.

Inventory, however, is beginning to tighten. A total of 410 homes were sold in April, a decrease from 455 homes sold in the same month last year. This dip reflects both constrained supply and potential hesitation from buyers due to rising interest rates.

Mortgage rates continue to be a critical factor shaping buyer behavior. As of mid-May 2025, the average 30-year fixed mortgage rate in Nebraska holds at 6.99%. This rate has remained stable over the past week, but it hovers near the highest levels we’ve seen in recent years. With economic uncertainty, including the recent U.S. credit downgrade, rates may remain elevated or even rise further, impacting affordability for many would-be buyers.

As we move into the summer months, buyers should be prepared for continued competition, especially for well-maintained homes in desirable neighborhoods. Sellers, on the other hand, may find that pricing strategically is key to drawing strong offers in a market that’s gradually balancing out.