Is 72616, AR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 72616 is a buyer's market

Buyer's
Market

Difference Since April 2023

At the same time last year, 72616 was a Seller's Market.

Key Takeaway

72616 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 72616, AR

How much do homes in 72616, AR cost?

Median Sold Price

$221,000

$134/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$43,000(+24.2%)

Key Takeaway

Homes in 72616 have sold for 24.2% more than they did a year ago.

Summary: The median home sold price in 72616 was $221,000 in April 2024, up 24.2% from last year, and the median price per square foot was $134.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $129.9K$315K
+142.4%
2 $127K$153K
+20.5%
3 $181.5K$216.5K
+19.3%
4 $204.2K$255K
+24.8%
5+ -$519.9K
N/A

Summary: 72616 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 142.4%, 2 bedroom homes increased by 20.5%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 24.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

72616
+24.2%
72638
+22.7%
72632
+6.6%
72631
+5.5%
65658
-2.1%

Housing Supply in 72616, AR

How many homes are available in 72616, AR?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
4645-2.2%

Summary: The 72616 real estate market had 45 homes for sale in April 2024, a 2.2% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 24
+100.0%
2 1312
-7.7%
3 1516
+6.7%
4 1310
-23.1%
5+ 33
0.0%

Summary: The 72616 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
104-60.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 72616, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 72616 in April 2024, down by 60.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.

Days on Market for 72616, AR

How long does it take to sell a home in 72616, AR?

Average Sale Time

Apr 2023Apr 2024CHANGE
44 Days68 Days+53.4%

Summary: Homes in 72616 had an average of 68 days on market in Apr 2024, up by 53.4% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 72616 has remained consistent over time.

Summary: During April 2024, 4 homes were sold in 72616; 0% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

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