Inventory in Benton County is building, with 59 active listings in July, up from a year ago and slightly higher than June. Contract activity is brisk, as pending sales jumped sharply month over month to 23 while closed sales were up more than 40 percent compared with last year. New listings, however, fell steeply from both last month and a year ago, which may keep available options from growing too quickly.
Pricing is adjusting as buyers and sellers find middle ground. The typical home value, reflected in the median sale price of about $160,000, is down more than 10 percent year over year and also slipped from June. List prices are higher than recent sale prices, with the median list price rising from last month but still running below last year, and the average sale-to-list ratio has eased to just over 90 percent, indicating more negotiation room.
Homes are moving faster this summer, with median days on market dropping from 43 in June to 19 in July, even though that is still higher than a year ago. Supply sits around four months, compared with 2.8 months statewide, and the area is still classified as a seller’s market despite only a small share of homes selling above list. With these shifting conditions and pricing patterns, both buyers and sellers in Benton County can benefit from Agent Pronto’s help in finding an agent who understands the local dynamics.
