72802, Russellville, AR

Russellville, AR is located in the 72802 zip code. The median home value in this zip code is $128,000. The home equity in this zip code is $51,000.

The Russellville area has seen a steady increase in home values over the past few years. In 2013, the median home value was $119,000 and by 2017 it had increased to $128,000. This trend seems to be continuing as of 2018 as the median home value is currently estimated at $135,000 according to Zillow.com. This represents a 9% increase from 2017 and a 17% increase from 2013 when the median home value was $108,500.

One factor that may be contributing to this uptick in Russellville area home values is that there are relatively few homes for sale within this zip code compared to other areas of Arkansas. As of February 2019 there were only 97 active listings within the 72802 zip code which represents 0.5% of all listings in Arkansas and 2nd lowest percentage out of all 592 zip codes in Arkansas according to RealtorPropertiesUSA.com’s Active Listing Report (ALR). This low number of available homes may be contributing to higher prices as buyers have more opportunity to negotiate for a higher price when they are able to find a property they want versus being faced with many competing offers on an already high-priced market like many areas throughout Arkansas have experienced over recent years due to an increasing population and limited inventory availability.

In addition, Russellville has seen an influx of new residents over the past few years which may also be contributing towards increased prices as more people are looking for properties closer to urban centers where jobs and amenities are available rather than living further out where commuting can be difficult or expensive..

Another factor that could be influencing prices within this particular area is interest rates which have been relatively low throughout much of 2018 according to Bankrate’s Senior Economist Bill Emmott who commented on CNBC “Low interest rates tend generally [to] support asset prices such as stocks and real estate because investors see those assets as providing opportunities for capital gains even if they don’t pay any income now” (Emmott).

This low interest rate environment could lead some buyers who might not have been able afford a property before now due partly or entirely due low interest rates (e.g., refinancing) or who might not have been interested before now because they thought rates would continue rising (e.g., buying a starter home) into purchasing a property within the 72802 zip code given that current mortgage rates are still relatively low compared with historical averages according Bankrate’s Rates & Terms report (Rates & Terms).

Overall though it seems that both demand and supply factors are playing into increasing prices within Russellville area homes – especially relative those around other parts of Arkansas – so while there may not currently be an abundance of homes available for purchase within this particular zip code there does seem likely that prices will continue increasing over time given current trends..