Lincoln, Nebraska, may not be the first place on your mind when you think of relocating to an up-and-coming area, but it should be! You won’t have to worry about exorbitant home prices or a dire real estate market. Lincoln is known for its natural beauty, cultural attractions, museums, things to do, and fair housing market.
Instead, local realtors can help you find the perfect home for you and your family in Lincoln, NE. Professionals can help you find the lowest home values.
Learning how to read the market report for a Lincoln home for sale can help future homeowners avoid high interest rates. Especially if you are looking for a property for non-commercial use, working with a professional can help you save money and get the best deal possible.
Let’s check out why homeowners should consider looking at open houses in the Lincoln area. After all, you can avoid exorbitant list prices, get a great deal per square foot, and move to a fantastically modern city!
Have you considered moving to Lincoln, Nebraska, in the past? Well, if so, we are not surprised! There are multiple reasons why you may find this city and the seat of Lancaster County to be an appealing option for your new home.
Lincoln, Nebraska, is the second-most populated city in the state and within the top 75 in the entire country. If you are looking for a new job, new opportunities, and a new circle of friends, this could be the ideal place to relocate.
Lincoln is Nebraska’s cultural, economic, and industrial hub, offering multiple corporations, small businesses, museums, attractions, and much more for new residents. It is no wonder it is the 104th-largest statistical area in the USA!
The principal employers of the area include financial corporations, insurance businesses, publishing houses, manufacturing plants, pharmaceutical corporations, and telecommunications businesses. The University of Nebraska Lincoln and the local and state governments also provide plenty of job opportunities.
Out of these industries, the State of Nebraska, University of Nebraska, City of Lincoln, Bryan Health, and Lincoln Public Schools are the main employers in the region.
There are tons of fun activities and places to visit when you move to Lincoln, Nebraska.
Some of the best tourist attractions (or new homeowner attractions) include the Sunken gardens, Museum of American speed, and the Lincoln Children’s Zoo. You also can’t miss getting ice cream at Ivanna Cone, a tasty coffee at The Mill Coffee and Tea, or a vegetarian dinner at The Green Gateau.
Looking to move out of your suburban area in Nebraska and emigrate to Lincoln? We buy houses Nebraska homeowners are looking to sell. We will help you get the best deal on your home and move to a bustling city!
About the Lincoln Housing Market
Before you move to Lincoln, it can be helpful to understand the Nebraska housing market. Knowing the housing market and real estate trends in Nebraska can help you negotiate house prices, find real estate, and make predictions about the housing market.
Featuring a competitive price per sqft, the houses here stack up to the national average median home price, meaning you won’t break the bank when purchasing a property in Lincoln.
The median list price of a home in Lincoln, Nebraska, comes to $275,000, which is $143 per square foot. The median list price of a home hasn’t changed since the beginning of July 2022, showing slight stability in the market.
Since 2020 and in the last three years, the median list price of a home has slightly increased. The average price of a home in the middle of 2020 came to just under $200K. It rose to $250K in the middle of 2021 and increased to just over $270K in the middle of 2022.
Looking at the 5-year overall growth of the median sale price in Lincoln, Nebraska, the average has increased from approximately $175K to $275K, showing a $100K increase. If you want to sell a house fast in Lincoln, we can help you get the best price possible!
For single-family homes, the year-over-year return comes to just over 10% for the past 5 years. The same goes for townhouses, showing a 15% increase over the last 5 years.
Despite a spike in prices in the middle of 2018 to over $250K, the price dropped to below $200K in 2019. Now, the average median sale price of a townhome is $270K.
For condominiums and townhouses, the average median sale price for condos came to approximately $150K in 2018. The market then dropped substantially in 2020 to below $100K. After a sharp spike at the beginning of 2021 to over $500K, the price is now just over $400K in the middle of 2022.
The median list price of a home in Lincoln by the size (bedroom count) comes to $96.5K for a one-bedroom home, $207.5K for a 2-bedroom home, $260K for a 3-bedroom home, $317K for a 4-bedroom home, and $426.9K for a 5-bedroom home.
Taking these numbers into account, the price of the 2-bedroom home has risen by 5.6%. The price of a 5-bedroom home has risen by over 16% since July. The price of a 3-bedroom home and a 4-bedroom home have both decreased by 2.8% and 5.2%, respectively.
The median home list price in Lincoln compared to other nearby cities is typically higher, with the average price of a homecoming to more than 40% of the average price in Yankee Hill and 6% higher than the average price in Grant.
If you want to move out of your current town, we can help you—cash home buyers in Omaha can help you immediately get cash in hand for your property.
Lincoln Housing Market Statistics
There are currently 351 houses on the market in August of 2022, increasing by over 148% since July 2022. Searches for homes for sale by the number of bedrooms have increased. The biggest margin is in the number of 5-bedroom homes for sale.
The average listing age for a home in Lincoln, Nebraska, is just 38 days, which is down by 28 days since July of 2022 (66 days). Buyers who know the Lincoln housing market trends will know when to make an offer on the house. They keep close track of the current mortgage rates and how they affect the Lincoln housing market.
Compared to other housing markets and geographical areas, the housing market in Lincoln is very competitive. The average home sells in less than one week, and most homes get multiple offers. The average house sells for 2% over the list price, with competitive homes selling for as high as 5% over the list price.
The sale to list price for all home types has increased by 101.9%, with single-family homes increasing by 102%. Townhouses have increased by 101.6%, whereas condominiums have increased by 96%.
Curious as to what the most expensive home sales in NE are? Currently, there are dozens of luxury homes for sale in the state of Nebraska, including lots for sale and furnished properties. In Omaha, there is a 5-bedroom, 11-bathroom home for sale for $3.8 million. Another home for sale in Omaha is a 12,279-square-foot mansion that is going for $2.75 million.
If you are looking for a home in Fairbury, there is a mansion for sale for $2.65 million, featuring five bedrooms and four bathrooms.
Regarding luxury homes for sale in Lincoln, there is a 7-bedroom, 3-bathroom home for sale for just over $1.13 million. Plus, you can look at large mansions, ranch houses, and condominiums for sale — there is currently a 2-bedroom, 3-bathroom, and 3,800-square-foot ranch house for sale in Lincoln for just under $900K.
Compared to last year, the market is growing — and is better than ever! This is the best time to take advantage of the blossoming Lincoln real estate market, so make sure to look at houses currently for sale. Using multiple listing sites will provide you with the best chance of finding a low-priced home that fits your needs.
Does Lincoln sound like the perfect place for you? We think so too! Lincoln, Nebraska, offers new homes for sale that are perfect for renters looking to become homebuyers.
Work with a professional brokerage or real estate agent to analyze the Lincoln real estate market and take advantage of new construction in the area. You’ll be able to find low prices for large homes, modern condominiums, and perfectly-located apartments. You can also find great schools for your kids, ample outdoor activities, and dozens of cultural attractions to visit.
Sounds good, doesn’t it? We think so too! Moving to Lincoln, Nebraska, could be the best decision you ever make.
If you need a little bit of help listing your home or finding a home in Lincoln, we’re here for you! Use Element Homebuyers to get the best price possible when it comes to selling your house, relocating to a new property, or buying a home currently for sale on the Lincoln, Nebraska, housing market.