Rising inventory and a slower sales pace have shifted Gravette into buyer's market territory even as sale prices moved higher year over year.
Price Trends
Median sale price in Gravette reached $415,000 for the period, up 43.2% from the previous period's $289,750, while median price per square foot climbed to $211.37, an 11% increase. Average sale price came in at $474,857.52 against an average list price of $559,402.97. Homes continued to sell close to asking, with a median sale-to-list ratio of 97%, though that figure eased slightly from the prior period's 96.86%.
Inventory & Supply
Active listings rose to 82, a 39% increase from 59 previously, pushing months of supply to 10.7 compared with 7.1 before, a 50.7% jump. The absorption rate stands at 9.32%, and overall conditions are classified as a buyer's market, reflecting more available inventory relative to the current sales pace.
Pace of Sales
Average days on market rose to 89.25, up 40.2% from 63.68 in the prior period, with the median days on market at 72. Sold transactions totaled 61, a 7.6% decline from 66 previously, and sell-through for the period was 47.3%, with a pending-to-active ratio of 18.3%.
Property Type & Price Range Highlights
Houses made up the majority of sales at 57 of 61 transactions, with a median sale price of $425,000, an average of 83.25 days on market, and 9.2 months of supply. Manufactured homes recorded a lower median sale price of $142,656 alongside a longer average of 174.75 days on market and 16 months of supply. Among price bands, homes under $200K moved fastest at an average of 27.8 days on market with just 1.6 months of supply, while the $800K–$1M range moved more slowly, averaging 192.5 days on market and 12 months of supply.
At a Glance
- Median Sale Price: $415,000
- Average Days on Market: 89.25 days
- Months of Supply: 10.7
- Sale-to-List Ratio: 97%
- Active Listings: 82
- Homes Sold: 61
See the full interactive year-to-date market report: https://nwastats.com/market-report/gravette-benton-county-year-to-date-market-update/