Is Siloam Springs, 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, Siloam Springs has remained a Seller's Market.
Key Takeaway
Siloam Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Siloam Springs, AR
How much do homes in Siloam Springs, AR cost?
Median Sold Price
$259,000
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Siloam Springs have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Siloam Springs was $259,000 in May 2024, up 6.6% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $386.2K | +382.8% |
| 2 Bedrooms | $149.5K | $187.5K | +25.4% |
| 3 Bedrooms | $230K | $242.1K | +5.3% |
| 4 Bedrooms | $300K | $343.4K | +14.5% |
| 5+ Bedrooms | $395K | $525K | +32.9% |
Summary: Siloam Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 382.8%, 2 bedroom homes increased by 25.4%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes increased by 32.9%.
Housing Supply in Siloam Springs, AR
How many homes are available in Siloam Springs, AR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 160 | 170 | +6.3% |
Summary: The Siloam Springs real estate market had 170 homes for sale in May 2024, a 6.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 9 | 7 | -22.2% |
| 3 Bedrooms | 80 | 91 | +13.8% |
| 4 Bedrooms | 60 | 62 | +3.3% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Siloam Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 34 | +13.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Siloam Springs, expect to pay close to the asking price. 55.9% of homes here sold near the asking price last month.
Summary: A total of 34 homes were sold or pending in Siloam Springs in May 2024, up by 13.3% month-over-month. Of the 34 sold homes, 35% were sold under asking, 56% were sold at asking, and 9% were sold over asking.
Days on Market for Siloam Springs, AR
How long does it take to sell a home in Siloam Springs, AR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 82 Days | 88 Days | +7.3% |
Summary: Homes in Siloam Springs had an average of 88 days on market in May 2024, up by 7.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Siloam Springs has remained consistent over time.
Summary: During May 2024, 34 homes were sold in Siloam Springs; 26% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 35% 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.