Regional home sales down in first quarter

The number of homes sold in Crawford, Franklin and Sebastian counties during the first quarter of 2009 fell more than 22% compared to the same period in 2008, according to figures released Thursday (May 7) by the Arkansas Realtors Association.

There were 350 homes sold in the first quarter of 2009 in Crawford, Franklin and Sebastian counties, down 22.2% from the 450 sold in the same period of 2008. The combined value of the homes sold in the first quarter of 2009 in the three regional counties was $42.33 million, down 22.8% from the same period in 2008.

Statewide, the number of homes sold in the first quarter of 2009 was 4,423, down 22.8% from the same period in 2008. The value of homes sold statewide during the first three months of 2009 is $614.14 million, down 27.28% from the same period in 2008.

REAL ESTATE STATS
Number of homes sold
Crawford County
Jan.-Mar. 2009: 101
Jan.-Mar. 2008: 148

Franklin County
Jan.-Mar. 2009: 12
Jan.-Mar. 2008: 17

Sebastian County
Jan.-Mar. 2009: 237
Jan.-Mar. 2008: 285

Value of homes sold
Crawford County
Jan.-Mar. 2009: $12.01 million
Jan.-Mar. 2008: $17.47 million

Franklin County
Jan.-Mar. 2009: $874,350
Jan.-Mar. 2008: $1.31 million

Sebastian County
Jan.-Mar. 2009: $29.45 million
Jan.-Mar. 2008: $36.08 million

Average price of homes sold
Crawford County
Jan.-Mar. 2009: $118,922
Jan.-Mar. 2008: $118,095

Franklin County
Jan.-Mar. 2009: $72,863
Jan.-Mar. 2008: $77,347

Sebastian County
Jan.-Mar. 2009: $124,279
Jan.-Mar. 2008: $126,622

The top five Arkansas counties in terms of number of homes sold Jan.-Mar. 2009 are:
Pulaski County (760, down 27.2% from the same period in 2008)
Benton County (592, down 14.4% from the same period in 2008)
Washington County (326, down 29.7% from the same period in 2008)
Saline County (268, down 19.2% from the same period in 2008)
Faulkner County (249, down 14.1% from the same period in 2008)