Area home sales down during January

BusinessFort SmithNews on the Wire

by The City Wire staff ([email protected]) February 15, 2012 3:54 pm 89 views 

Home sales during January in Crawford and Sebastian counties totaled 91, down slightly from 96 during January 2011.

The data, provided by Paul Bynum with Mountdata, shows 30 home sales in Crawford County during January, up from 27 during January 2011. The value of Crawford County homes sold totaled $3.467 million, up 30.4% compared to January 2011.

Median sales price in Crawford County during January was $88,791, down compared to $94,500 during January 2011.

Sebastian County had 61 home sales during January, down from 69 during January 2011. The value of Sebastian County homes sold totaled $8.806 million, up 12.9% compared to January 2011.

Median sales price in Sebastian County during January was $141,000, well ahead of the $93,500 during January 2011.

Home sales during 2011 totaled a combined 1,673 in Crawford and Sebastian counties, up 2.4% compared to 2010, according to info provided by Weichert Realtor-King Realty Group.

The gain ended four consecutive years of home sales in the two counties.

Crawford County had 523 home sales during 2011, up 7.83% compared to 2010. Sebastian County posted 1,150 home sales during 2011, beating by a nose the 1,148 home sales during 2010.

The Fort Smith area also saw a reduction in home inventory. The inventory in Crawford and Sebastian counties reached 1,420 in January 2011, up 15.9% compared to January 2010. But throughout 2011 the inventory levels began to fall as more homes were sold or pulled off the market. The inventory level in the two counties was 1,152 in December, down almost 19% from the January level.

Home sales in Benton and Washington county totaled 319 during January, 15 less than in January 2011. Median home prices across Northwest Arkansas got a 21% boost in January, thanks to shoppers purchasing more expensive homes and the ongoing Wal-Mart-effect.

there have been more higher-end properties being sold in recent months than in the past couple of years, thanks largely to Wal-Mart moving its retail segment back to Bentonville from New York. The retail giant announced the move in October relocating about 275 employees.