Area home sales see big March gains
by April 22, 2010 10:18 am 44 views
March saw impressive gains in home sales in Crawford and Sebastian counties, reversing a troubling trend that saw January and February sales down compared to 2009.
Realtor Ernie Schimmelman reported in his King Realty Market Group Report that 56 homes were sold in Crawford County in March and 116 were sold in Sebastian County, up 44% and 32%, respectively, over March 2009.
New and existing home sales in Crawford, Franklin and Sebastian counties for the first two months of 2010 totaled 201, down 11.8% from the same period in 2009, according to info released March 29 by the the Arkansas Realtors Association. There were 1,948 homes sold during 2009 in Crawford, Franklin and Sebastian counties, down 6.39% from the 2,081 sold in 2008.
Schimmelman also notes an emerging supply-demand balance in the $150,000-and-under market, with the inventory in that price range dropping from more than 7 months to between 5 and 7 months. Schimmelman considers this a healthy trend in the market.
“For the first time in a long time the Market for homes under $150,000 is balanced. Seller’s have regained some leverage in the market,” he noted in his report.
The report also shows a stable overall inventory of homes, with the market having 1,225 homes listed in January and 1,233 listed in March.
“So far in April I have not seen (home sales activity) abate, but that’s just based on my personal activity in the market,” Schimmelman said.
The King Realty Market Group Report (as prepared by Ernie Schimmelman):
Key figures:
• Crawford County (March)
Homes listed: 335
Homes sold, March 2010: 56
Homes sold, March 2009: 39
Mean price, March (rolling 12-month rate): $119,626
Homes listed $0 to $200,000: 246
Homes listed $201,000 to $500,000: 80
Homes listed $501,000 and up: 9
• Sebastian County (March)
Homes listed: 898
Homes sold, March 2010: 116
Homes sold, March 2009: 88
Mean price, March (rolling 12-month rate): $127,711
Homes listed $0 to $200,000: 653
Homes listed $201,000 to $500,000: 194
Homes listed $501,000 and up: 51