The housing market in Pea Ridge continues to see strong price appreciation, with values up 58.6% compared to last year. The median home price of $244,000 represents a substantial 58.6% increase from this time last year. At the current pace, all available homes in Pea Ridge would sell out in just 1.0 months, indicating a continued supply shortage. Homes are now taking an average of 176 days to sell, significantly longer than the 19 days typical for this market. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Pea Ridge market with the affordability index at 2173.7. Based on current market indicators, home prices in Pea Ridge are projected to decrease by approximately 9.4% over the next month.
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