Is Pea Ridge, 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, Pea Ridge has remained a Seller's Market.
Key Takeaway
Pea Ridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pea Ridge, AR
How much do homes in Pea Ridge, AR cost?
Median Sold Price
$365,206
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Pea Ridge has remained the same since last year.
Summary: The median home sold price in Pea Ridge was $365,206 in May 2024, up 0.4% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $175K | $187.2K | +7.0% |
| 3 Bedrooms | $309.1K | $300K | -3.0% |
| 4 Bedrooms | $401K | $415K | +3.5% |
| 5+ Bedrooms | $665K | $396.8K | -40.3% |
Summary: Pea Ridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7%, 3 bedroom homes decreased by 3%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 40.3%.
Housing Supply in Pea Ridge, AR
How many homes are available in Pea Ridge, AR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 156 | 154 | -1.3% |
Summary: The Pea Ridge real estate market had 154 homes for sale in May 2024, a 1.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 52 | 59 | +13.5% |
| 4 Bedrooms | 94 | 86 | -8.5% |
| 5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The Pea Ridge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 13.5%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 32 | +23.1% |
Asking Price vs. Sold Price
10 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 Pea Ridge, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 32 homes were sold or pending in Pea Ridge in May 2024, up by 23.1% month-over-month. Of the 32 sold homes, 31% were sold under asking, 50% were sold at asking, and 19% were sold over asking.
Days on Market for Pea Ridge, AR
How long does it take to sell a home in Pea Ridge, AR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 99 Days | 143 Days | +44.2% |
Summary: Homes in Pea Ridge had an average of 143 days on market in May 2024, up by 44.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Pea Ridge are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 32 homes were sold in Pea Ridge; 16% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Cooperative Arkansas REALTORS® Multiple Listing Services, Inc. Real estate listings, held by brokerage firms other than this broker, are marked with the Broker Reciprocity℠ logo and information about them includes the name of the listing brokers. The 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 data is deemed reliable but is not guaranteed accurate by the MLS. Copyright© 2024 Cooperative Arkansas Realtors MLS. All Rights Reserved.