The real estate market in Nebraska and Iowa has shown dynamic changes in the past year. Whether you’re a real estate agent, a prospective homebuyer, or looking to refinance, staying informed is key. Here’s a breakdown of the latest trends and statistics in a listicle format to keep you up-to-date.

Nebraska Housing Market Overview

1. Rising Home Prices

In April 2024, Nebraska saw a 3.1% increase in home prices compared to the previous year. The median price now stands at $286,000.

2. Increased Home Sales

The number of homes sold rose by 12.7% year-over-year, with 1,689 homes sold in April 2024, up from 1,499 the previous year.

3. Homes for Sale

The number of homes for sale increased by 3.0% year-over-year, reaching 4,658 in March 2024.

4. New Listings

There were 2,180 newly listed homes in March 2024, up by 3.4% compared to the previous year.

5. Days on Market

Homes in Nebraska are staying on the market a bit longer, with the median days on the market at 19, up by 2 days from the previous year.

6. Competitive Market

About 29.4% of homes sold above list price in March 2024, although this is down by 5.3 points from last year.

7. Price Drops

The percentage of homes with price drops increased to 23.4% in March 2024, up from 13.0% last year.

8. Sale-to-List Price Ratio

The sale-to-list price ratio slightly decreased to 99.0%, down by 0.38 points year-over-year.

Nebraska Key Takeaways

• Typical Home Values: $260,603
• 1-Year Value Change: +5.0%
• Median Sale Price: $251,250 (March 2024)
• Median List Price: $278,333 (April 2024)
• Percent of Sales Over List Price: 23.1% (March 2024)
• Percent of Sales Under List Price: 53.8% (March 2024)

Iowa Housing Market Overview

1. Rising Home Prices

Home prices in Iowa increased by 4.3% year-over-year in March 2024, with a median price of $226,300.

2. Decreased Home Sales

The number of homes sold fell by 6.0%, with 2,708 homes sold in March 2024, down from 2,877 the previous year.

3. Homes for Sale

Iowa saw a significant rise in homes for sale, up 12.6% year-over-year, totaling 10,874 in April 2024.

4. New Listings

There were 4,164 newly listed homes in April 2024, an increase of 10.7% from the previous year.

5. Days on Market

Homes are taking longer to sell, with the median days on the market rising to 45, up by 6 days year-over-year.

6. Competitive Market

In March 2024, 22.9% of homes sold above list price, a decrease of 2.5 points from the previous year.

7. Price Drops

The percentage of homes with price drops increased to 24.6%, up from 19.0% last year.

8. Sale-to-List Price Ratio

The sale-to-list price ratio slightly decreased to 97.9%, down by 0.38 points year-over-year.

Iowa Key Takeaways

• Typical Home Values: $217,641
• 1-Year Value Change: +4.6%
• Median Sale Price: $197,583 (March 2024)
• Median List Price: $239,467 (April 2024)
• Percent of Sales Over List Price: 17.6% (March 2024)
• Percent of Sales Under List Price: 65.0% (March 2024)
• Median Days to Pending: 14 (April 2024)

Both Nebraska and Iowa have seen notable changes in their housing markets, with Nebraska showing an increase in home sales and Iowa seeing a rise in home prices. Whether you’re buying, selling, or refinancing, it’s crucial to stay informed about these trends.

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