Pine Bluff's low prices are not speeding up home sales

"Pine Bluff's housing market reveals a stark disconnect between affordability and buyer interest, with 34.4% of active listings taking price cuts while homes sit on the market for a median 91 days. The metro's $139,950 median list price represents less than half Arkansas's $315,000 statewide figure, yet this dramatic price advantage fails to accelerate sales. The Pine Bluff metro recorded 262 active single-family listings for the week ending Nov. 21, with sellers adding 12 new properties while 15 homes absorbed from the market."

"At $83.5 per square foot, Pine Bluff properties cost roughly half the state's $162.3 average, positioning the metro as Arkansas's most affordable major market. Pine Bluff's 4.2 months of supply exceeds both Arkansas's 3.5-month level and the national 2.7-month average, indicating weaker demand relative to available homes. The metro's inventory buildup occurs even as sellers demonstrate flexibility through widespread price reductions."

"Properties remain active 91 days before finding buyers, compared to 84 days statewide and 77 days nationally. This extended marketing period persists despite Pine Bluff offering the lowest entry point among Arkansas metros. The 34.4% price-cut rate signals seller urgency in a market where traditional pricing strategies prove ineffective. Zero listings increased prices during the reporting period, contrasting with more balanced markets where some sellers test higher asking prices."

Pine Bluff's median list price is $139,950 and the metro recorded 262 active single-family listings for the week ending Nov. 21, with sellers adding 12 new properties while 15 homes absorbed from the market. Properties average $83.5 per square foot, roughly half the state's $162.3 average, making Pine Bluff the most affordable major market in Arkansas. Months of supply stand at 4.2, above Arkansas's 3.5 and the national 2.7, signaling weaker demand. Thirty-four point four percent of active listings took price cuts while no listings increased prices. Median time on market is 91 days, compared with 84 statewide and 77 nationally. The 4.2% relisting rate remains contained, and the combination of elevated inventory, extended marketing times, and frequent reductions creates buyer-favorable conditions.

Read at www.housingwire.com