Now that the snow has melted, the Spring real estate market is right around the corner. Interest rates seemed to have remained steady over the past few weeks and buyers are preparing to make offers on homes. Let's take a look at the real estate numbers for first month of 2024 and how it compares to previous years.

Douglas County Existing Homes

There were 344 closed residential sales in January 2024, up 2 percent compared to January of 2023. For perspective, the month of January typically sees the lowest number of closed sales, and the month of June typically has the highest number of sales.

The median sale price in January was $278,500, up over 16 percent compared to the same time last year.

According to FreddieMac, interest rates in January 2023 were about half a point lower than they were in January 2024, but unit sales and prices in Douglas County continued to rise.

Douglas County New Construction

New construction sales increased by about 10 percent with 52 closed sales (that show up in the Multiple Listing Service). Closed sale prices remained steady with a median sale price hovering around $444,000.

Sarpy County Existing Homes

The number of sold properties in Sarpy County rose about 10 percent compared to a year ago with 105 closed sales. Median sale prices were up about 1.5 percent at $299,000.

Sarpy County New Construction

Closed sales in Sarpy County were down about 20 percent compared to last year and the median sale price dropped to $402,490, representing a 16 percent drop.

New construction remains an opportunity for buyers in both Douglas and Sarpy counties for a variety of reasons. Availability is high and prices seem reasonable.

Bottom Line

Looking ahead, there's no reason to believe we won't have a strong Spring real estate market in Omaha. I expect both prices and unit sales to increase through the Spring and Summer. Let's connect and talk through your selling or buying options.