As expected, September’s statewide home sales took a big hit, according to the Arkansas Realtors Association monthly report.
The ARA report showed that monthly homes sold were down roughly 21 percent versus September 2009. The value of those sales declined 18 percent compared to last year’s figures.
There was a bright spot for homeowners: average home prices in September improved again. The average price of a home in Arkansas increased 3.65 percent to $145,670.
Among the five largest counties in Arkansas home sales slipped with the exception of Garland County. Pulaski County units sold dropped 27 percent. Benton and Washington counties saw sales declines of 13 percent and 19 percent respectively.
Craighead County home sales fell 15 percent, while Garland County noted a two percent improvement in sales versus one year ago.
Year-to-date, home sales tracked by the ARA are down less than one percent, while average home prices are up by 0.5 percent.