$3,595 Closing Credit*
$302,700
2,018 SqFt
5 Beds
•2 Full Baths
Listing Office: Coldwell Banker Harris McHaney & Faucette-Rogers
Is Farmington, AR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$332,335
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$17,291(+5.5%)
Key Takeaway
Homes in Farmington have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in Farmington was $332,335 in November 2024, up 5.5% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $210K | $215K | +2.4% |
| 3 Bedrooms | $292.6K | $317.4K | +8.5% |
| 4 Bedrooms | $425K | $406.5K | -4.4% |
| 5+ Bedrooms | $840K | $804.2K | -4.3% |
Summary: Farmington housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 8.5%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes decreased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Center Township | $320.1K | $577.4K | +80.4% |
| Prairie Grove Township | $295K | $314.9K | +6.8% |
| Prairie Grove | $295K | $314.9K | +6.8% |
| Farmington | $315K | $332.3K | +5.5% |
| Farmington Township | $315K | $332.4K | +5.5% |
Housing Supply in Farmington, AR
How many homes are available in Farmington, AR?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 74 | 77 | +4.1% |
Summary: The Farmington real estate market had 77 homes for sale in November 2024, a 4.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 46 | 51 | +10.9% |
| 4 Bedrooms | 24 | 22 | -8.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Farmington housing inventory by bedroom type for November 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 10.9%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 19 | +35.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Farmington, you may be able to get a good deal. 52.6% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Farmington in November 2024, up by 35.7% month-over-month. Of the 19 sold homes, 53% were sold under asking, 37% were sold at asking, and 11% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 81 Days | 78 Days | -3.8% |
Summary: Homes in Farmington had an average of 78 days on market in Nov 2024, down by 3.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Farmington has remained consistent over time.
Summary: During November 2024, 19 homes were sold in Farmington; 11% of homes were sold within 30 days, 58% of homes were sold within 30 to 90 days, and 32% 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.