$4,453 Closing Credit*
$375,000
1,885 SqFt
3 Beds
•2 Full Baths
Listing Office: Smith and Associates Real Estate Services
Is Prairie Grove, AR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Prairie Grove was a Seller's Market.
Key Takeaway
Prairie Grove 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 Prairie Grove, AR
How much do homes in Prairie Grove, AR cost?
Median Sold Price
$314,950
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$19,950(+6.8%)
Key Takeaway
Homes in Prairie Grove have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Prairie Grove was $314,950 in November 2024, up 6.8% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $750K | $270K | -64.0% |
| 2 Bedrooms | $200K | $215K | +7.5% |
| 3 Bedrooms | $272.2K | $293.4K | +7.8% |
| 4 Bedrooms | $342.6K | $340.2K | -0.7% |
| 5+ Bedrooms | $570K | $760K | +33.3% |
Summary: Prairie Grove housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 64%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 7.8%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes increased by 33.3%.
Median Sold Price Compared To Nearby Cities
| Prairie Grove | $295K | $314.9K | +6.8% |
| Prairie Grove Township | $295K | $314.9K | +6.8% |
| Farmington Township | $315K | $332.4K | +5.5% |
| Farmington | $315K | $332.3K | +5.5% |
| Marrs Hill Township | $410K | $379.5K | -7.4% |
Housing Supply in Prairie Grove, AR
How many homes are available in Prairie Grove, AR?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 113 | 104 | -8.0% |
Summary: The Prairie Grove real estate market had 104 homes for sale in November 2024, a 8.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 64 | 63 | -1.6% |
| 4 Bedrooms | 35 | 27 | -22.9% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Prairie Grove 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 decreased by 1.6%, 4 bedroom homes decreased by 22.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Prairie Grove, you could pay more than the asking price. 37.5% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Prairie Grove in November 2024, up by 6.7% month-over-month. Of the 16 sold homes, 31% were sold under asking, 31% were sold at asking, and 38% were sold over asking.
Days on Market for Prairie Grove, AR
How long does it take to sell a home in Prairie Grove, AR?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 78 Days | 92 Days | +17.7% |
Summary: Homes in Prairie Grove had an average of 92 days on market in Nov 2024, up by 17.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Prairie Grove has remained consistent over time.
Summary: During November 2024, 16 homes were sold in Prairie Grove; 6% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 38% 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.