Top Small Teams in Arkansas – Ranked By Volume

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2023 Arkansas Housing Market Summary

Arkansas started 2023 with a total of 6,060 single-family homes on the market, with a median home price of $285,000 and an average price per square foot of $166. By the end of the year, inventory had increased to 7,951 homes on the market (+31%), with a median home price of $295,000 (+3%) and an average price per square foot of $173 (+4%).

At the start of 2023, the median days on market (DOM) was 70 days – by the end of the year, median DOM had increased to 77 days.

Arkansas started the year with 31% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 30% of Arkansas homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Arkansas started 2023 as a seller’s market, with an MAI score of 42; by the end of the year, the MAI had dropped to 30 – a balanced buyer and seller’s market.

This market summary is powered by Altos Research – click here to run a free report for your area.

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