Arkansas Housing Prices

The Arkansas housing prices have fallen drastically in the recent times. This is surely a good news for all those who are planning to invest in to the real estate market.

The average price of houses in the state of Arkansas is somewhere between $140,280 to $160,280. The sudden fall in the housing prices has made more and more people to buy a house. The property rates varies from place to place. The most expensive part of the city is the capital Little Rock; where the property prices are always high. It is also the most populated city of the state. This is because this city is equipped with all the facilities required for a decent housing.

The Arkansas housing authority also ensures that each and every person in this state is given an affordable house. The housing market in the north western region of Arkansas seems to have fared better with regard to home sales in the year 2008-2009. If we compare the prices from the year 2007, we notice that there has been a decrease of around 7% in the housing prices in this state. In the year 2007, houses were being sold at a rate of $99 per square foot but in the year 2008, houses were being sold for $92. Northwest Arkansas is filled with shopping markets and that is why the price of houses in this area increases year by year. But, it is a pleasant surprise to note that inspite of such a commercial and a busy area, the prices of homes even in this area has fallen. In case you have plans of selling your house and are worried about the decline in prices, then you should think over that you have earned enough equity all these years.

However, there was a change in the story recently in June 2009 when the average price in the state of Arkansas went up to $173,109. This rate has increased by almost 25% from its previous rate just five months back. Thus, the prices of housing in this state keeps changing from time to time. For current rates and housing prices in Arkansas, contact your nearest real estate agent.