Is Siloam Springs, AR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$258,373
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Siloam Springs have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Siloam Springs was $258,373 in March 2024, up 8.1% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80.2K | $560K | +597.8% |
| 2 Bedrooms | $150K | $188K | +25.3% |
| 3 Bedrooms | $229K | $240K | +4.8% |
| 4 Bedrooms | $307.4K | $320K | +4.1% |
| 5+ Bedrooms | $345K | $517K | +49.9% |
Summary: Siloam Springs housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 597.8%, 2 bedroom homes increased by 25.3%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 49.9%.
Housing Supply in Siloam Springs, AR
How many homes are available in Siloam Springs, AR?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 118 | 139 | +17.8% |
Summary: The Siloam Springs real estate market had 139 homes for sale in March 2024, a 17.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 68 | 77 | +13.2% |
| 4 Bedrooms | 35 | 43 | +22.9% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Siloam Springs 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 16.7%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 33 | +230.0% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Siloam Springs, you may be able to get a good deal. 57.6% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in Siloam Springs in March 2024, up by 230.0% month-over-month. Of the 33 sold homes, 58% were sold under asking, 36% were sold at asking, and 6% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 92 Days | 118 Days | +28.1% |
Summary: Homes in Siloam Springs had an average of 118 days on market in Mar 2024, up by 28.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Siloam Springs are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 33 homes were sold in Siloam Springs; 3% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 52% 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.