- Brandon Still - Realtor
- Posts
- Northwest Arkansas Mid-Summer Update
Closing Out June
As we close out June there are a few things to look back on.
Continued high demand and low inventory. From an article published by Realtor.com, on average across the country we are down just over 50% in inventory compared to pre-pandemic levels.
With this, nationwide the median days on market for a home went down to 18 days, and the average number of offers on recently sold homes went up to 3.3 offers.
On top of this, we continue to see new inventory coming through new construction with folks staying locked into their 3% mortgages. 31% of the new inventory brought to the market is new construction, while the average nationwide over the last 40 years has been 13%.
All in all, the data presents a great opportunity for sellers while supply and demand continues to be lop-sided. Call me if you’re interested in seeing what your home is worth today.
Opening Up July
As we move into July and June numbers for Northwest Arkansas come out, what should we expect?
Summer Selling Season Peaks: July typically marks the peak of the summer selling season in Northwest Arkansas. With warmer weather and families looking to relocate before the new school year begins, we anticipate increased activity in the housing market, particularly in the mid-range and family-oriented segments.
Potential Inventory Increase: As the summer progresses, we may see a modest increase in housing inventory compared to the previous months. While it might not fully alleviate the supply-demand imbalance, the additional listings should provide more options for buyers and potentially lead to a slight easing of price growth.
Continued Competitive Market: Despite a potential increase in inventory, the market is still expected to be competitive in July. Buyers should be prepared for multiple offers and swift decision-making to secure their desired properties. Working closely with a knowledgeable real estate agent (Me!) can greatly assist in navigating this dynamic environment.
Interest Rate Watch: With the Fed meeting at the end of the month, it will be important to keep your eye on any developments coming from it. While interest rate hikes were halted in the last meeting, some expect to see the continued rise at a slower pace moving forward. Stay close with myself or your lenders to understand how that could impact your purchase.
"The way to get started is to quit talking and begin doing" -Walt Disney
Featured Listings of The Week - Let’s Go See Them!
First Time Home Buyer
3 Bedroom, 2 Bathroom - $295,000
1306 Spring St, Bentonville, AR 72712
Exclusively listed by Trina Team with Keller Williams Market Pro Realty
Luxury Listing
4 Bedroom, 3 Bathroom - $625,000
Steps away from Mt. Hebron park with soccer, baseball, tennis, basketball & more.
6413 S 63rd St, Lowell, AR 72745
Exclusively Listed By Krystal Tronzano with Collier & Associates - Bentonville Branch
Brandon Still - Mainstreet Properties Listing
3 Bedroom, 2 Bathroom Per Side, $1,850 / Month
Great Opportunity to rent right in the heart of Bentonville. Within 2 miles of Crystal Bridges and Downtown Bentonville, and within a mile of the new Walmart Campus.
500 Megan St, Bentonville, AR 72712
Exclusively Listed By Brandon Still with Mainstreet Properties
Tune In To NWA Investing Podcast - Episode 16
