We’re always appreciative of Ethan Nobles at First Arkansas News for jumping on the central and northwest Arkansas local housing reports in advance of the statewide home sales report offered by the Arkansas Realtors Association.
Nobles points out that in the major metropolitan markets in Arkansas, August home sales rose significantly compared to one year ago, but lower average prices drove those sales.
In central Arkansas, which includes Faulkner, Grant, Jefferson, Lonoke, Pulaski, Saline and White counties, home sales in August 2011 rose 22.8% compared to one year ago. Average home prices in those counties hovered around $162,189, down 3.9% from last August.
In northwest Arkansas, which includes Benton, Carroll, Madison and Washington counties, home sales rose 28.4% when you compare August 2011 to August 2010. The average sales price in the market was $157,894 — down 10.1% from a year ago.
Through the first 8 months of 2011, home sales in central Arkansas are still down 9.2% compared to the same period in 2010. Meanwhile, home sales in northwest Arkansas through the first 8 months of the year are up 9.5%.