Is Elm Springs, AR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Elm Springs was a Seller's Market.
Key Takeaway
Elm Springs is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Elm Springs, AR
How much do homes in Elm Springs, AR cost?
Median Sold Price
$645,000
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elm Springs have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in Elm Springs was $645,000 in May 2024, down 1.1% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $170K | $152.5K | -10.3% |
| 3 Bedrooms | $337.5K | $375.5K | +11.3% |
| 4 Bedrooms | $640.4K | $642.5K | 0.3% |
| 5+ Bedrooms | $699.9K | $750K | +7.2% |
Summary: Elm Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 10.3%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes increased by 7.2%.
Median Sold Price Compared To Nearby Cities
| Springdale | $306.3K | $324.9K | +6.1% |
| Springdale Township | $306.3K | $324.5K | +5.9% |
| Elm Springs | $652K | $645K | -1.1% |
| Elm Springs Township | $652K | $625K | -4.1% |
Housing Supply in Elm Springs, AR
How many homes are available in Elm Springs, AR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Summary: The Elm Springs real estate market had 13 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 10 | 7 | -30.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Elm Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 30%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elm Springs, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Elm Springs in May 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Elm Springs, AR
How long does it take to sell a home in Elm Springs, AR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 51 Days | +52.8% |
Summary: Homes in Elm Springs had an average of 51 days on market in May 2024, up by 52.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Elm Springs has remained consistent over time.
Summary: During May 2024, 2 homes were sold in Elm Springs; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% 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.