Regional real estate market not immune from downturn

Regional real estate sales for the first nine months of the year indicate that the area is not completely immune from the national housing downturn.

According to the Arkansas Realtors Association, 19,987 homes were sold January-September, down 17.87 percent from the same period of 2007. The value of those homes in that period totaled $3.05 billion, down 18.54 percent from the 2007 period.

The local numbers are a little better than the statewide tally.

Number of homes sold
Crawford County
January-September 2008: 493
January-September 2007: 610

Franklin County
January-September 2008: 56
January-September 2007: 88

Sebastian County
January-September 2008: 1,092
January-September 2007: 1,212

Value of homes sold
Crawford County
January-September 2008: $63.99 million
January-September 2007: $78.04 million

Franklin County
January-September 2008: $4.74 million
January-September 2007: $6.81 million

Sebastian County
January-September 2008: $150.23 million
January-September 2007: $158.43 million

Average price of homes sold
Crawford County
January-September 2008: $129,807
January-September 2007: $127,959

Franklin County
January-September 2008: $84,676
January-September 2007: $77,434

Sebastian County
January-September 2008: $137,575
January-September 2007: $130,726

The top five Arkansas counties in terms of number of homes sold January-September are:
1. Pulaski County (3,584, down 18.6 percent from 2007)
2. Benton County (2,625, down 20.3 percent from 2007)
3. Washington County (1,568, down 27.8 percent from 2007)
4. Saline County (1,124, down 20.8 percent from 2007)
5. Sebastian County (1,092, down 9.9 percent from 2007)