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You are here: Home / Benton County Real Estate / Home Prices Hit 5 Year High

Home Prices Hit 5 Year High

August 1, 2013 By Cody Leave a Comment

Market Conditions in Bentonville AR

NAR reported the median price of an existing single-family home rose 5.9 percent in May, an annual gain of 12.6 percent.  “Home prices rose to their highest levels in almost five years in May, increasing by a non-seasonally adjusted 2.5 percent, according to the Case-Shiller Home Price Indices released Tuesday.”  A drop in foreclosures, coupled with a short supply of homes for sale and record low mortgage rates have helped fuel the real estate market this year.

Locally in Bentonville, AR the average days on market for single family homes is only 52 days and the foreclosure rate remains low at 4.6%.  The average median home price in July was $282,000 compared to an average price of $240,000 9 months ago in October 2012. Inventory remains low at only 340 residential single family homes on the market.

Bentonville Homes For Sale

New ImageHere at The Burnett Real Estate Team our inventory has gone from 30 to 15 listings in just a short period.  Our sales are up 88% over last year during the same period with our July ending sales volume at slightly over 4.8 million.  We have been busy selling property!  While interest rates are still low it is the perfect time to buy or sell real estate.  The market is HOT and the time is NOW!

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Filed Under: Benton County Real Estate, Bentonville Real Estate, Bentonville Realtor, Buyers, Featured Posts, Front Page, Sellers Tagged With: Bentonville homes for sale, Bentonville Real Estate, Bentonville Realtor, Home prices rising

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1011 N Walton Blvd

Bentonville, AR 72712

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About the Burnett Team

Cody and Christiane Burnett have been providing real estate services in Bentonville for several years, with 20+ years of combined experience. Cody is one of the top agents in Bentonville and has an extensive background in residential construction. [Read More]

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