Is 72704, AR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 72704 has remained a Seller's Market.
Key Takeaway
72704 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 72704, AR
How much do homes in 72704, AR cost?
Median Sold Price
$343,769
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 72704 have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in 72704 was $343,769 in May 2024, up 3.7% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $185K | +15.6% |
| 2 Bedrooms | $252.5K | $260K | +3.0% |
| 3 Bedrooms | $304.7K | $319K | +4.7% |
| 4 Bedrooms | $425.3K | $428K | +0.6% |
| 5+ Bedrooms | $555.9K | $620.5K | +11.6% |
Summary: 72704 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.6%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 11.6%.
Housing Supply in 72704, AR
How many homes are available in 72704, AR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 185 | 214 | +15.7% |
Summary: The 72704 real estate market had 214 homes for sale in May 2024, a 15.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 18 | 22 | +22.2% |
| 3 Bedrooms | 102 | 118 | +15.7% |
| 4 Bedrooms | 51 | 60 | +17.6% |
| 5+ Bedrooms | 13 | 12 | -7.7% |
Summary: The 72704 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 40 | 58 | +45.0% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 72704, expect to pay close to the asking price. 48.3% of homes here sold near the asking price last month.
Summary: A total of 58 homes were sold or pending in 72704 in May 2024, up by 45.0% month-over-month. Of the 58 sold homes, 36% were sold under asking, 48% were sold at asking, and 16% were sold over asking.
Days on Market for 72704, AR
How long does it take to sell a home in 72704, AR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 96 Days | 67 Days | -29.8% |
Summary: Homes in 72704 had an average of 67 days on market in May 2024, down by 29.8% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 72704 has remained consistent over time.
Summary: During May 2024, 58 homes were sold in 72704; 24% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 24% 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.