Is Siloam Springs, AR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Siloam Springs is a seller's market

Buyer's
Market

Difference Since June 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

$257,413

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$14,702(+6.1%)

Key Takeaway

Homes in Siloam Springs have sold for 6.1% more than they did a year ago.

Summary: The median home sold price in Siloam Springs was $257,413 in June 2024, up 6.1% from last year, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $80K$386.2K
+382.8%
2 $150K$188K
+25.3%
3 $230K$237.5K
+3.3%
4 $299.9K$327.4K
+9.1%
5+ $450K$505K
+12.2%

Summary: Siloam Springs housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 382.8%, 2 bedroom homes increased by 25.3%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 12.2%.

Housing Supply in Siloam Springs, AR

How many homes are available in Siloam Springs, AR?

Number of Homes For Sale

May 2024Jun 2024CHANGE
192175-8.9%

Summary: The Siloam Springs real estate market had 175 homes for sale in June 2024, a 8.9% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 01
+100.0%
2 88
0.0%
3 9784
-13.4%
4 7467
-9.5%
5+ 1315
+15.4%

Summary: The Siloam Springs housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 13.4%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 15.4%.

Number of Homes Sold

May 2024Jun 2024CHANGE
3852+36.8%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

32 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Siloam Springs, expect to pay close to the asking price. 61.5% of homes here sold near the asking price last month.

Summary: A total of 52 homes were sold or pending in Siloam Springs in June 2024, up by 36.8% month-over-month. Of the 52 sold homes, 23% were sold under asking, 62% were sold at asking, and 15% 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

Jun 2023Jun 2024CHANGE
81 Days90 Days+11.0%

Summary: Homes in Siloam Springs had an average of 90 days on market in Jun 2024, up by 11% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

20 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Siloam Springs has remained consistent over time.

Summary: During June 2024, 52 homes were sold in Siloam Springs; 17% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 38% 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 26 Days Ago

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