Area home list prices decline

Average and median prices of new and existing homes in the Fort Smith/Van Buren markets dropped 3.4 percent and 2.6 percent, respectively, between Aug. 4 and Nov. 3. Statewide, the average price of new and existing homes fell 2 percent.

The report from the Arkansas Realtors Association shows the following:

Fort Smith/Van Buren real estate markets
Average list price of new and existing homes
4 AUG: $203,911
3 NOV: 196,965

Median list price of new and existing homes
4 AUG: $154,000
3 NOV: $149,900

Inventory of new and existing homes
4 AUG: 1,116
3 NOV: 1,057

Statewide, the inventory of new and existing homes dropped from 14,070 in early August to 13,407 by Nov. 3.

Also, in the once-booming housing market of Northwest Arkansas, average list prices of new and existing homes fell from $237,943 in early August to $234,330 by Nov. 3, a 1.5 percent drop. The inventory of homes in that overbuilt market has dropped 6.5 percent from 6,767 on Aug. 4 to 6,322 by Nov. 3.