May 2025 Omaha Real Estate Market Update: Trends, Rates, and Events

As we roll into May, Omaha’s real estate market continues to show steady strength and surprising shifts. Whether you’re planning to buy, sell, or just like to stay in the loop, this update breaks it all down.

🎥 Prefer video? Watch the full May 2025 Market Update here:

📊 April Market Performance at a Glance

• Median Sale Price: $318,000 (up 2.9% YoY)

• Average Days on Market: 26 (up from 20 last year)

• Price per Sq Ft: $218 (up 3.8% YoY)

Even with higher rates and tight inventory, well-priced homes in good condition are still commanding attention—often with multiple offers.

💸 Mortgage Rate Update

Rates are still sitting in the upper 6% range, but there’s hope on the horizon. Recent inflation reports have been favorable, and if the upcoming BLS jobs report looks good, we could see rates start to come down by summer.

Brian Farley from Charter West Bank also shared that mortgage rates are starting to break away from traditional bond patterns, which could signal more buyer opportunity soon.

🏡 Buyer & Seller Tips for May

If you’re selling:
Simple upgrades like new carpet, fresh paint, mulch, or even a $40 doorknob swap can add thousands in value. Homes that feel move-in ready are flying off the market.

🏠 Curious what your home could sell for today?
Get a free, no-pressure home value estimate here.

If you’re buying:
There’s a little more breathing room in the $400K+ range, but if you’re under $318K, come ready to compete. You might even need to offer over asking.

🎯 Want to feel confident before you start house hunting?
Download my 90-Day Homebuyer Roadmap — it breaks down every step so you’re ready.

🏗️ New Developments Around Omaha

• Project Game On: New stadium for Omaha North High & Butler-Gast YMCA

• WarHorse Casino Expansion: 130+ new jobs, new restaurant and amenities

• Mutual of Omaha Tower: Topped 32 stories — set to become Nebraska’s tallest building

• Fleet Farm: Gretna-area projects now on pause

Omaha’s skyline and suburbs are always evolving. These projects will impact nearby property values, traffic flow, and future demand.

🎉 Omaha Events to Catch This Month

• Junkstock: Massive vintage fest with food trucks and live music

• Berkshire Hathaway Weekend: Events at CHI, Borsheims, and NFM

• Cinco de Mayo Festival: One of the biggest in the Midwest, right in South Omaha

• Hamilton at the Orpheum: Broadway’s biggest hit comes to downtown

• George Clinton @ Steelhouse: A high-energy funk night

• Memorial Park: The rose garden is blooming — perfect spring spot

🎒New to the area or thinking about moving here?
Download my Free Omaha Relocation Guide for schools, neighborhoods, and insider tips.

💬 Final Thoughts

This market is competitive—but manageable. Sellers are winning when their homes show well. Buyers are winning when they’re prepared. The key is knowing how to play it.

📊 Want monthly updates like this delivered to your inbox?
Subscribe to my Big O Breakdown newsletter — just one helpful Omaha market update per month.