The Nebraska housing market in February 2025 presents a complex landscape, characterized by rising prices and declining inventory. The Median Sales Price has increased by 3.9% year-over-year, reaching $289,400. Similarly, the Median List Price has also risen by 3.9%, now standing at $311,300. This upward trend in pricing is further reflected in the median Price Per Square Foot, which has seen a 2.5% increase to $153, while the Median List Price per square foot has grown by 2.7% to $160.

Despite the increase in prices, the number of Homes Sold has risen by 3.2% year-over-year, totaling 1,196 units. However, the market is experiencing a significant decline in Pending Sales, which have dropped by 18.2% compared to the previous year, now at 1,277. This decline in Pending Sales is mirrored by a 19.2% decrease in New Listings, which currently stand at 1,397. The overall inventory has also decreased by 6.7%, with 2,514 homes available, contributing to a reduced Months of Supply, now at 2.1 months, down by 20.0% year-over-year.

The Median Days on Market have increased by 12.0%, now averaging 42 days. This suggests that while homes are selling, they are taking longer to do so compared to the previous year. The average sale to list ratio has improved slightly by 0.5%, now at 98.4%, indicating that homes are selling closer to their list prices. However, the percentage of Homes Sold above list price has decreased by 3.1%, now at 20.1%.

Price Drops have become more common, with a 6.6% increase year-over-year, now affecting 26.4% of listings. Meanwhile, the percentage of homes going off the market within two weeks has remained relatively stable, with a slight decrease of 0.1%, now at 41.6%.

Overall, the Nebraska housing market in February 2025 is characterized by rising prices and reduced inventory, leading to a competitive environment for buyers. The decline in Pending Sales and New Listings suggests potential challenges ahead, as the market adjusts to these dynamics.