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 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

+$19,444(+8.1%)

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

# BEDSMar 2023Mar 2024CHANGE
1 $80.2K$560K
+597.8%
2 $150K$188K
+25.3%
3 $229K$240K
+4.8%
4 $307.4K$320K
+4.1%
5+ $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 2024Mar 2024CHANGE
118139+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

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 67
+16.7%
3 6877
+13.2%
4 3543
+22.9%
5+ 912
+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 2024Mar 2024CHANGE
1033+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

Asking vs Sold - buyer

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 2023Mar 2024CHANGE
92 Days118 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

Breakdown of Home Sale Times

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.

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

Report Updated 20 Days Ago

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