Arkansas Home Prices are Well Below National Median

NOVEMBER 15, 2005 - Posted at 3:35 p.m. CST

LITTLE ROCK, AR - Arkansas home prices are well below the national median of $215,000, but parts of northwest Arkansas are getting closer.  Estimates from the National Association of Realtors show that in the third quarter of this year, the national median home price was $215,900.  That's almost 15 percent over the $188,200 for the same period last year.  The median price is for the sale of existing homes, not new ones.

The national median is 76 percent higher than the $122,700 median price for existing homes sold in the Little Rock-North Little Rock area.  In northwest Arkansas, the median price in Benton County was $137,600 and $145,000 in Washington County.

The median price for an existing, single-family home in Crawford County was $89,900 and $87,500 in Sebastian County.

Some realtors say out-of-state investors are looking at homes in lower-priced areas of Arkansas.

(Copyright 2005 by The Associated Press.  All Rights Reserved.)