Is Pea Ridge, AR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pea Ridge is a seller's market

Buyer's
Market

Difference Since March 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

$366,200

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$30,700(+9.2%)

Key Takeaway

Homes in Pea Ridge have sold for 9.2% more than they did a year ago.

Summary: The median home sold price in Pea Ridge was $366,200 in March 2024, up 9.2% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $175K$180K
+2.9%
3 $285K$305K
+7.0%
4 $385K$416.8K
+8.3%
5+ $600K$397K
-33.8%

Summary: Pea Ridge housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 33.8%.

Housing Supply in Pea Ridge, AR

How many homes are available in Pea Ridge, AR?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
147145-1.4%

Summary: The Pea Ridge real estate market had 145 homes for sale in March 2024, a 1.4% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 47
+75.0%
3 5957
-3.4%
4 7977
-2.5%
5+ 54
-20.0%

Summary: The Pea Ridge housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 75%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2526+4.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pea Ridge, expect to pay close to the asking price. 65.4% of homes here sold near the asking price last month.

Summary: A total of 26 homes were sold or pending in Pea Ridge in March 2024, up by 4.0% month-over-month. Of the 26 sold homes, 23% were sold under asking, 65% were sold at asking, and 12% 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

Mar 2023Mar 2024CHANGE
114 Days105 Days-8.0%

Summary: Homes in Pea Ridge had an average of 105 days on market in Mar 2024, down by 8% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

13 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

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 March 2024, 26 homes were sold in Pea Ridge; 4% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 50% 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 22 Days Ago

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