If you are in the market for real estate in Little Rock, you may find it worthwhile to compare the current market values of the area to comparable cities elsewhere. A city with similar demographics to Little Rock are the cities of the Greater Toronto Area in Ontario, Canada.
There are some amazing neighborhoods to consider when looking at buying real estate in Little Rock. Many have great listings that are relatively inexpensive. Housing in the areas surrounding the city costs about a third less than it would with similar Toronto real estate, The average house in West Little Rock, for example, sells for about $190,000. The average house in Etobicoke, west of Metro Toronto, would cost about $300,000.
West Little Rock has recently grown a great deal in the past few years. Chenal and the surrounding area have grown a great deal as of late and has new houses in it's expanding developments starting at $115,000. The areas beautiful new houses are adjacent to the Chanel Country Club and various golf courses in the valley, making them very much in demand.
Similarly, if you are looking at houses in Little Rock's Heights area, you will see asking prices of about $200,000. In a similar area near Toronto, with Mississauga real estate, one would expect to see the same house selling for about $300,000 as well.
On the top-end of the market, Little Rock's Pleasant Valley and Hickory Creek have homes listed at around $1,000,000. Homes in areas in Toronto such as Rosedale start at that price range and average at around $2,500,000.
In looking at the suburban areas, market conditions are very similar. A three bedroom house in the areas of Conway, Mablevale, East End, Sherwood or Maumelle starts at about $120,000. Similarly, a house for sale in Oshawa, Whitby or Ajax (about half an hour from downtown Toronto) can be found for about $140,000.
In upper-scale areas north of Little Rock, such as Lakewood and Park Hill, you will find larger homes and lots at an average cost of $280,000. In a similar area of Toronto, you will find Oakville, Orangeville and Scarborough homes for sale at about $300,000 for something similar.
For something in a more rural, woodsy area of Little Rock, you will find some amazing properties in the areas of Chenel Valley, Brodie Creek and Otter Creek. Smaller homes there cost an average of $120,000 and larger, three-bedroom homes approximately $210,000. Homes in Hudson Valley, the Humber River area or Northumberland County start at $125,000 and average $240,000 for a three-bedroom house.
Downtown, you will find areas such as Cammack Village and Roverdale where real estate averages $260,000. In a historic, downtown area of Toronto, one would expect to pay almost double. As such, there is a great value in some of these areas of Little Rock. With high demand and constant growth, you will also be making a solid, long-term investment as your resale value is almost certain to keep increasing over time. |
