Is 72616, AR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 72616 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 72616 was a Seller's Market.

Key Takeaway

72616 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 72616, AR

How much do homes in 72616, AR cost?

Median Sold Price

$187,000

$138/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$17,625(-8.6%)

Key Takeaway

Homes in 72616 have sold for 8.6% less than they did a year ago.

Summary: The median home sold price in 72616 was $187,000 in October 2024, down 8.6% from last year, and the median price per square foot was $138.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $390K$231.4K
-40.7%
2 $160K$159K
-0.6%
3 $195K$185K
-5.1%
4 $225K$250K
+11.1%
5+ $665K$374.9K
-43.6%

Summary: 72616 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 40.7%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 43.6%.

Median Sold Price Compared To Nearby Zip Codes

72638
+25.1%
72631
+13.8%
72632
+3.5%
72616
-8.6%

Housing Supply in 72616, AR

How many homes are available in 72616, AR?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4449+11.4%

Summary: The 72616 real estate market had 49 homes for sale in October 2024, a 11.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 33
0.0%
2 76
-14.3%
3 1821
+16.7%
4 1315
+15.4%
5+ 34
+33.3%

Summary: The 72616 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
37+133.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 72616, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 72616 in October 2024, up by 133.3% month-over-month. Of the 7 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 72616, AR

How long does it take to sell a home in 72616, AR?

Average Sale Time

Oct 2023Oct 2024CHANGE
55 Days121 Days+117.4%

Summary: Homes in 72616 had an average of 121 days on market in Oct 2024, up by 117.4% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 72616 has remained consistent over time.

Summary: During October 2024, 7 homes were sold in 72616; 0% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 43% 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 21 Days Ago

Newest Listings in 72616, AR

Nearby Markets to 72616, AR