Home Prices are Rising in NW Arkansas

Everyone is probably aware that homes are now more expensive to purchase in NW Arkansas. But how much more expensive? A look at median and average prices of homes sold in the past couple of years compared with prices of homes currently on the market can give a glimpse of what buyers can expect this spring, when looking for a home.

Bella Vista

Year/No. Homes Sold/Average Price/Median Price
2005/1495/$160,880 /$147,500
2004/1256/$150,432 /$138,900

On Mkt. Now/Average Price/Median Price
536 /$206,204 /$188,400

Bentonville

Year /No. Homes Sold /Average Price /Median Price
2005 /884 /$230,790 /$188,738
2004 /814 /$200,662 /$159,900

On Mkt. Now/Average Price/Median Price
629 /$313,125 /$289,900

Fayetteville

Year /No. Homes Sold /Average Price /Median Price
2005 /1252 /$217,239 /$177,900
2004 /1188 /$194,216 /$169,650

On Mkt. Now/Average Price/Median Price
627 /$295,587 /$253,500

Rogers

Year /No. Homes Sold /Average Price /Median Price
2005 /1273 /$202,508 /$161,900
2004 /1182 /$189,213 /$143,450

On Mkt. Now/Average Price/Median Price
1108 /$291,106 /$249,900

Springdale

Year /No. Homes Sold /Average Price /Median Price
2005 /1368 /$181,583 /$149,900
2004 /1471 /$154,496 /$130,000

On Mkt. Now/Average Price/Median Price
653 /$235,221 /$197,900

Siloam Springs

Year /No. Homes Sold /Average Price /Median Price
2005 /475 /$134,681 /123,900
2004 /313 /$121,981 /$110,000

On Mkt Now/Average Price/Median Price
162 /$190,477 /$174,900

Source of Data: NW Arkansas MLS
Note: The Average Price is determined by dividing the value of all of the homes sold or on the market by the number of homes. The Median Price is the price of the home where the number of homes sold (or currently on the market) above the price of that home is equal to the number of homes sold (or currently on the market) below the price of that home.