$4,501 Closing Credit*
$379,000
1,994 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: D.R. Horton
Is Farmington, AR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Farmington has remained a Seller's Market.
Key Takeaway
Farmington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Farmington, AR
How much do homes in Farmington, AR cost?
Median Sold Price
$330,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,300(+4.9%)
Key Takeaway
Homes in Farmington have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Farmington was $330,000 in October 2024, up 4.9% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $206.5K | $216K | +4.6% |
| 3 Bedrooms | $290K | $315.1K | +8.7% |
| 4 Bedrooms | $450K | $404K | -10.2% |
| 5+ Bedrooms | $840K | $804.2K | -4.3% |
Summary: Farmington housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 8.7%, 4 bedroom homes decreased by 10.2%, and 5+ bedroom homes decreased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Prairie Grove Township | $295K | $312K | +5.8% |
| Prairie Grove | $295K | $312K | +5.8% |
| Farmington | $314.7K | $330K | +4.9% |
| Farmington Township | $314.7K | $330K | +4.9% |
Housing Supply in Farmington, AR
How many homes are available in Farmington, AR?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 72 | 73 | +1.4% |
Summary: The Farmington real estate market had 73 homes for sale in October 2024, a 1.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 42 | 47 | +11.9% |
| 4 Bedrooms | 25 | 22 | -12.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Farmington 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 remained the same, 3 bedroom homes increased by 11.9%, 4 bedroom homes decreased by 12%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 15 | -28.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Farmington, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 15 homes were sold or pending in Farmington in October 2024, down by 28.6% month-over-month. Of the 15 sold homes, 33% were sold under asking, 60% were sold at asking, and 7% were sold over asking.
Days on Market for Farmington, AR
How long does it take to sell a home in Farmington, AR?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 110 Days | 55 Days | -49.9% |
Summary: Homes in Farmington had an average of 55 days on market in Oct 2024, down by 49.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Farmington has remained consistent over time.
Summary: During October 2024, 15 homes were sold in Farmington; 27% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 27% 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.