Have you been looking for the perfect place to raise a family?

Lincoln, Nebraska, is a growing city with a vibrant real estate market. As the capital of Nebraska, Lincoln has a diverse economy that includes education, healthcare, and technology industries. With a 2023 population of 295,222, it is the 2nd largest city in Nebraska and the 70th largest city in the United States. Lincoln is currently growing at a rate of 0.44% annually and its population has increased by 1.32% since the most recent census, which recorded a population of 291,383 in 2020. 

The city's real estate market is dynamic, with a variety of homes and properties available for sale or rent. 

Here are some current market trends in Lincoln real estate that you should be aware of if you are considering buying or selling a home. Keep reading to learn more.

1. Low Inventory

One of the current market trends in Lincoln real estate is the low inventory of homes available for sale. This trend is not unique to Lincoln, but it is affecting the city's real estate market. 

With more people moving to Lincoln and the demand for housing increasing, the supply of available homes has decreased. This has resulted in an increase in home prices and multiple offers on properties.

2. Competitive Bidding for Properties

The current low inventory has resulted in buyers being more competitive for the limited number of homes available for sale. 

This can lead to bidding wars, where buyers are willing to pay above the asking price to secure the property they want.

As a result, it is essential for buyers to have a pre-approval letter from a lender and to work with a real estate agent who can help them navigate the bidding process. 

On the seller's side, it is essential to work with a real estate agent who can help them determine the right price for their property and navigate multiple offers.

3. Increased Demand

Lincoln is a desirable place to live, and as a result, there is an increased demand for housing in the city. This is due to factors such as the city's growing economy, low cost of living, and quality of life. 

With more people looking to buy a home or rent in Lincoln, the demand for properties is higher than the available supply.

4. Increase in New Construction

Another trend in Lincoln real estate is an increase in new construction. With low inventory and high demand, some buyers are turning to new construction to find their dream homes.

Developers are responding to this demand by building new homes and condos in various parts of the city. 

This trend is expected to continue, as developers see opportunities to meet the housing demand in Lincoln.

5. Shorter Time on the Market

Homes for sale in Lincoln are also spending less time on the market. With low inventory and increased demand, properties are selling faster than in previous years. 

This means that buyers need to act quickly when they find a property they are interested in, and sellers may receive multiple offers on their homes.

A Guide to Lincoln Real Estate

Buying or selling a home can be an exciting yet overwhelming experience. That's why it's important to understand as much as possible about the Lincoln real estate market.

Please contact us today to schedule an appointment with one of our Lincoln real estate specialists at Nebraska Realty.