Little Rock
’s historic Quapaw Quarter is bounded by the
Arkansas River
on the north, the old Rock Island Railroad tracks on the east, Fourche Creek on the south and
Central
High School
on the west. It wasn’t too long ago that house prices in the Quapaw neighborhood topped out around $200,000. But, according to Carol Penick, a long-time Little Rock real estate agent, it's now not unusual to see houses price in the $300,000 + range.
Recently, Penick sold the Hotze House, on
Louisiana Street
near the Governor's Mansion, for $525,000. And, while home prices in Quapaw are still lower than many parts of the city, the unofficial figures of the Central Arkansas Realtors Multiple Listing Service show that during one measured period (2001 through 2002), total home sales for the area rose 42 percent ($1,080,750 to $1,536,000).
By comparison, sales for
Chenal
Valley
rose 25 percent for the same period ($56 million to $70 million) and the Heights/Hillcrest area rose seven percent ($59 million to $63 million). Comparing price per square foot, downtown homes are still lower than other areas, sometimes only a third of $200-plus-per-square-foot often found in the Heights.
Dee Herring, a real estate agent who specializes in historic homes, said the Governor's Mansion and
MacArthur
Park
areas have undergone significant renovation and rehabbing and buyers may have to pay top dollar." She said those in search of a deal are now looking farther west, at the Central High neighborhood.
Exploring the Quapaw neighborhood and studying notable statistics of growth and home values is definitely a project to consider when considering ownership in
Little Rock
.
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