Northwest Arkansas Real Estate Market Update – November 2022
Can you believe we are coming near the end of 2022? What a year it has been in terms of market shifts and mortgage rates, yet owning a home is still the greatest asset most people will have and a goal most people want to achieve. I am here to breakdown what’s happening in the real estate market here in Northwest Arkansas so that you can make the best decision when it comes to probably one of your largest assets, which of course is your home.
Let’s take a look at what’s happening in Benton County. In the last 30 days there have been 360 Single Family Homes Sold for an average price of $398,392 and those homes were on the market an average of 93 days, including the days pending. Homes are selling for an average of 98.8% of the list price. There are currently 1169 Single Family Homes For Sale and 825 Homes are currently pending in Benton County.
Now let’s take a look at Washington County. In the last 30 days, 200 Single Family Homes have sold for an average price of $386,112 and those homes we on the market for an average of 87 Days, including days pending. Homes in Washington County sold for an average of 98.5% of the list price. Currently, there are 539 Single Family Homes For Sale and 475 Homes are currently pending in Washington County.
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So you can see, with the changing market it is no surprise to us that homes are staying on the market longer. With the constant shifts, you need an experienced agent to help guide you through your next moves in real estate. Connect with my team today to get more information and we can strategize about what to do with your home.