Regional home market flat in January

Thank goodness for Crawford County.

The county had 33 home sales in January, up over the 24 in January 2009 and enough to make up for the eight fewer homes (64 in January; 72 in January 2009) sold in Sebastian County for the first month of 2010.

Also, Crawford County recorded a $4.071 million value of the homes sold in January, up 54.21% over the value in January 2009.

According to a report issued Thursday (Mar. 18) by the Arkansas Realtors Association, Crawford, Franklin and Sebastian counties combined for 100 home sales in January, relatively flat compared to the 101 homes sold in January 2009. The only bad news with the comparison is that 2009 was not a good year for home sales in the region. There were 1,948 homes sold during 2009 in Crawford, Franklin and Sebastian counties, down 6.39% from the 2,081 sold in 2008.

However, the percentage decline in home sales in the area moderated during 2009. At the end of the first quarter (Jan.-March 2009), home sales were down 22% compared to the same period in 2008. The decline fell to 13.37% after six months, down to 13.14% at the end of nine months and finishing the year down 6.39%.

The value of homes sold in January in three regional counties was $11.758 million, down 1.2% from the value in January 2009.

Statewide, the ARA reported 1,095 homes sold, down 1.26% from January 2009. The value of the homes sold statewide in January was $152.446 million, up 1.31% compared to January 2009. Home sales statewide totaled 24,862 during 2009, just 0.95% below 2008 sales.

“The good news in all this, of course, is that average sales prices increased in January. Realtors in the state have mentioned the drop in sales had a lot to do with an unusual amount of winter weather in January causing people to delay plans to shop for homes,” Ethan Nobles, ARA spokesman, said in a statement. “(W)e’re keeping an eye on sales in February, March and April as we expect to see buyers take advantage of the first-time and repeat home buyer tax credits by the April 30 deadline.”

REAL ESTATE STATS
• Number of homes sold
Crawford County
January 2010: 33
January 2009: 24
37.5%

Franklin County
January 2010: 3
January 2009: 5
-40%

Sebastian County
January 2010: 64
January 2009: 72
-11.1%

• Value of homes sold
Crawford County
January 2010: $4.071 million
January 2009: $2.64 million
54.21%

Franklin County
January 2010: $309,500
January 2009: $372,000
-16.8%

Sebastian County
January 2010: $7.378 million
January 2009: $8.898 million
-17.08%

• Average price of homes sold
Crawford County
January 2010: $123,377
January 2009: $110,009
-12.15%

Franklin County
January 2010: $103,167
January 2009: $74,400
-38.66%

Sebastian County
January 2010: $115,292
January 2009: $123,597
-6.72%

• The top five Arkansas counties in terms of number of homes sold during January 2010:
Pulaski County (182, down 12.5% from 2009)
Benton County (126, down 11.27% from 2009)
Washington County (92, up 3.37% from 2009)
Saline County (65, up 1.56% from 2009)
Sebastian County (64, down 11.11% from 2009)