It’s about time to take a look at the general market data for Bentonville Arkansas in June. This data covers all of Bentonville’s Current, Sold, Pending, and Non-listed Solds within the last 6 months up to 6/21/08. Let’s look an overview of the numbers . . . There have been 437 homes sold or pending in the last 6 months. Of those sold, the average list price was $233,178. The average sale price on those same homes was $223,928. That comes to a 96% Sale Price to List Price ratio. Not bad considering all of the negative press real estate is currently getting nationally. Additionally, the Average Days on Market (DOM) was 146 days. Remember that real estate is, for the most part, a local market phenomenon. What happens nationally, at least with prices, does not directly affect real estate in Northwest Arkansas and Bentonville.
Now, there are 674 Current listings on the market with an average list price of $298,899. The average days these listings have been on the market is 145 days. In summary, what all this means is that — while it is a great time to get a good deal on a home – sellers are not giving their homes away, at least not in Bentonville. With an average SP/LP ratio of 96%, it means that sellers and agents are getting realistic about pricing their homes, so don’t go out and expect to low ball a house you love and get an acceptance right away. That’s about it for the quick analysis of Bentonville’s general market data. In the coming days and weeks I’ll be focusing on specific neighborhoods in Bentonville and how they compare to the rest of the market.
