Average home prices up 1.4% year-to-date

Average home list prices in the Fort Smith/Van Buren market as of June 22 were 1.4% higher than at the beginning of the year, but 2.6% off the high for the year.

The Arkansas Realtors Association reported today (June 22) that the average list price of a Fort Smith/Van Buren home as of June 22 was $190,016, compared to $187,232 as of Jan. 5. The high mark for the Jan. 5 to June 22 period was May 26, when the average list price reached $195,209.

Also, homes in the area are being built or being put on the market faster than they are being sold. The inventory of new and existing homes in the Fort Smith/Van Buren market was 1,063, up 3.9% over the Jan. 5 inventory of 1,023 homes.

Figures from the ARA show the following:
Fort Smith/Van Buren real estate markets
• Average list price of new and existing homes
22 JUNE: $190,016
5 JAN: $187,232

• Median list price of new and existing homes
22 JUNE: $154,000
5 JAN: $146,900

• Inventory of new and existing homes
22 JUNE: 1,063
5 JAN: 1,023

In Arkansas’ four largest metro areas (Central Arkansas, Northwest Arkansas, Fort Smith/Van Buren, and Jonesboro area) the average list price was $232,924.

The number of homes sold in Crawford, Franklin and Sebastian counties during the first four months of 2009 fell 13.17% compared to the same period in 2008, according to ARA figures released June 2. There were 560 homes sold in the first four months of 2009 in Crawford, Franklin and Sebastian counties, down from the 645 sold in the same period of 2008. The combined value of the homes sold in the first four months of 2009 in the three regional counties was $67.82 million, down 12.4% from the same period in 2008.