Is 72703, AR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 72703 has remained a Seller's Market.
Key Takeaway
72703 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 72703, AR
How much do homes in 72703, AR cost?
Median Sold Price
$420,416
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 72703 have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in 72703 was $420,416 in May 2024, up 5.5% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $154K | $199K | +29.2% |
| 2 Bedrooms | $210K | $249.9K | +19.0% |
| 3 Bedrooms | $320K | $362.5K | +13.3% |
| 4 Bedrooms | $599.9K | $545K | -9.2% |
| 5+ Bedrooms | $895K | $800K | -10.6% |
Summary: 72703 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.2%, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 9.2%, and 5+ bedroom homes decreased by 10.6%.
Housing Supply in 72703, AR
How many homes are available in 72703, AR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 162 | 145 | -10.5% |
Summary: The 72703 real estate market had 145 homes for sale in May 2024, a 10.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 2 | -50.0% |
| 2 Bedrooms | 15 | 16 | +6.7% |
| 3 Bedrooms | 56 | 44 | -21.4% |
| 4 Bedrooms | 72 | 68 | -5.6% |
| 5+ Bedrooms | 15 | 15 | 0.0% |
Summary: The 72703 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 6.7%, 3 bedroom homes decreased by 21.4%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 43 | 40 | -7.0% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 72703, you may be able to get a good deal. 45% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in 72703 in May 2024, down by 7.0% month-over-month. Of the 40 sold homes, 45% were sold under asking, 40% were sold at asking, and 15% were sold over asking.
Days on Market for 72703, AR
How long does it take to sell a home in 72703, AR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 71 Days | 68 Days | -3.9% |
Summary: Homes in 72703 had an average of 68 days on market in May 2024, down by 3.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 72703 has remained consistent over time.
Summary: During May 2024, 40 homes were sold in 72703; 20% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
Disclaimer: IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Copyright © 2024 Northwest Arkansas Board of Realtors All rights reserved.