Rising inventory and a slower absorption pace have pushed the Siloam Springs market into buyer's-market territory even as prices hold steady.
Price Trends
The median sale price in Siloam Springs stands at $280,000, unchanged from the prior period, while the average sale price is $317,755.49. Median list price is $314,999 against an average list price of $365,829.57, and the median price per square foot is $174.42, down 0.4% year over year. Sellers are receiving a median of 100% of list price, essentially flat compared to the previous period.
Inventory & Supply
Active listings total 251, up 33.5% from 188 in the prior period, while new listings fell 7.1% to 448. Months of supply now sits at 7, an 89.2% increase from 3.7, and this combination of rising inventory and a slower sales pace has pushed conditions into buyer's-market territory. Sell-through sits at 64.1% and the absorption rate at 14.32%.
Pace of Sales
The average time on market is 64.08 days, down 7.3% from 69.16 days in the previous period, suggesting the overall pace of sales has picked up slightly even as inventory has grown. The median days on market of 30.5 offers additional context, indicating a portion of sales are moving considerably faster than the average implies. Completed sales for the period total 287, a 28.8% decline from 403 previously, with 50 listings currently pending.
Price Range & Property Type Highlights
Entry-level homes under $200,000 show the tightest conditions, with only 1.9 months of supply and an average of 38.51 days on market, while homes priced above $700,000 carry considerably more supply, ranging from 19.2 to 29.3 months. Houses account for the bulk of activity with 263 sales at a median price of $299,000 and 63.19 average days on market, while townhouses (19 sales, median $199,900) have taken somewhat longer to sell at 76.47 average days on market.
At a Glance
- Median Sale Price: $280,000
- Average Days on Market: 64.08 days
- Months of Supply: 7
- Active Listings: 251 (+33.5% YoY)
- Median Sale-to-List Ratio: 100%
See the full interactive year-to-date market report: https://nwastats.com/market-report/siloam-springs-benton-county-year-to-date-market-update/