NWA Real Estate- Sept. 2020 Market Updates

Sep 18, 2020

With the ups and downs of the current economy, you may assume that now is not the time to sell your home. However, this couldn’t be further from the truth. The numbers speak for themselves; the current Northwest Arkansas housing market is seeing a shortage of inventory which has increased demand exponentially. If stats and data are your things, each month we put together the most up-to-date market statistics for the NWA Real Estate on our website. Click here to access the full list.

We have condensed insights below for a quick 2 min read or click to see a 30-second video.

Number of Active Listings

NWA: 1,195 Active Listings – Down 55% from the prior year

Bentonville: 156 Active Listings- Down 64% from the prior year

Rogers: 166 Active Listings- Down 59% since the prior year

Fayetteville: 278 Active Listings- Down 44% from the prior year

Siloam Springs: 39 Active Listings- Down 61% from the prior year

Summary: With few homes for sale, your home will sell quickly!

*SOURCE NABOR MLS- Data pulled on 9.16.20- Information deemed reliable but not guaranteed

Median Listing Price

NWA: $324,000 compared to $284,000 in Aug. 2019

Bentonville: $444,000 compared to $349,000 in Aug. 2019

Rogers: $457,000 compared to $351,000 in Aug. 2019

Fayetteville: $389,000 compared to $317,000 in Aug. 2019

Siloam Springs: $209,000 compared to $213,000 in Aug. 2019

Summary: Home values up, up, up

*SOURCE NABOR MLS- Data pulled on 9.16.20- Information deemed reliable but not guaranteed

Median Sales Price

NWA: $240,000 compared to $218,000 in Aug. 2019

Bentonville: $$352,000 compared to $287,000 in Aug. 2019

Rogers: $265,000 compared to $249,000 in Aug. 2019

Fayetteville: $241,000 compared to $218,000 in Aug. 2019

Siloam Springs: $181,000 compared to $159,000 in Aug. 2019

Summary: Homes are selling for more $$

*SOURCE NABOR MLS- Data pulled on 9.16.20- Information deemed reliable but not guaranteed

Number of Days Spent on the Market

NWA: 45 days- Dropped 25% since Aug. 2019

Bentonville: 47 days- Dropped 29% since Aug. 2019

Rogers: 57 days- Dropped 8% since Aug. 2019

Fayetteville: 35 days- Dropped 31% since Aug. 2019

Siloam Springs: 45 days- Dropped 39% since Aug. 2019

Summary: When the % drops, that means homes are selling faster this year than in 2019

*SOURCE NABOR MLS- Data pulled on 9.16.20- Information deemed reliable but not guaranteed

Number of Units Sold

NWA: 1,072 units- Increased by 7% since Aug. 2019

Bentonville: 137 units- Decreased by 14% since Aug. 2019

Rogers: 162 units- Increased by 3% since Aug. 2019

Fayetteville:122 units- Increased by 23% since Aug. 2019

Siloam Springs: 36 units- Decreased by 18% since Aug. 2019

Summary: More homes have sold in NWA overall

*SOURCE NABOR MLS- Data pulled on 9.16.20- Information deemed reliable but not guaranteed

Don’t see your city/county listed above? We’ve got you covered; click the link to take you to more market insights in NWA.

If you are interested in selling your home but aren’t sure what it’s worth, we can help! Contact your agent today who can offer a free evaluation of your home.