Real Estate in Arkansas

Introduction

A healthy real estate market can be an important factor in the long-term growth of any state. Arkansas is no exception, as its real estate market is showing signs of a strong rebound in recent years. This article provides an overview of the Arkansas real estate market and what potential buyers and sellers might expect.

Arkansas Housing

Arkansas offers a wide range of housing options that range from single-family homes to large estates. With the average house in Arkansas being constructed in 1975, the state has plenty of vintage homes with charm and character. Despite having one of the nation’s lowest median home prices ($146,000 as of June 2019), housing prices in Arkansas remain more affordable than states like California ($583,000) and New York ($390,000).

Rental Market

In addition to its housing market, Arkansas also has a strong rental market. Rent prices across the state remain relatively more affordable than other states. The average rent for a two-bedroom apartment in Arkansas is $777.

Arkansas Real Estate Market Outlook

The Arkansas real estate market has experienced steady growth in the past few years, with consistent increases in both home prices and sales volume. The median home prices in the state have increased by 4.3% in the past year, and the number of existing homes sold has increased by 3.2%. The increases are not confined to specific areas, with significant growth across a variety of cities in Arkansas.

FAQs

Q: What is the median home price in Arkansas?
A: The median home price in Arkansas as of June 2019 is $146,000.

Q: What kind of housing options are available in Arkansas?
A: Arkansas offers a variety of housing options, ranging from single-family homes to larger, more expensive estates.

Q: What is the rental market like in Arkansas?
A: The rental market in Arkansas is fairly affordable, with the average rent for a two-bedroom apartment being $777.

Conclusion

Overall, the Arkansas real estate market is enjoying positive growth, with increases in both home prices and sales volume. The median home price in the state is still relatively low, making it an attractive option for potential buyers looking to purchase a home. Arkansas also offers renters a variety of housing options at reasonable prices. With its strong housing market, Arkansas is an attractive option for both buyers and sellers.