Crawford, Sebastian County home sales opens 2018 with 25% increase

by Aric Mitchell (amitchell@talkbusiness.net) 165 views 

The Fort Smith metro home sales market — Crawford, Sebastian counties — opened 2018 with positive numbers, topping $25.311 million in sales volume with 127 units moved compared to $20.171 million on 128 units in January of 2017 — a gain of over 25%.

The data was provided by Kevin King and Jonella Graham of Weichert Realtors-The Griffin Company.

Sebastian County pushed much of the gain with $17.84 million against $16.053 million, an increase of 11.13%, while Crawford County improved 81.3% to $7.471 million from $4.121 million.

While home sales can fluctuate wildly from month-to-month — and it’s too early in the year for a straight year-to-date comparison — the 12-month trend shows a market that is steadily increasing with a gain of more than 8% when comparing the last 12 to the previous.

From Feb. 1, 2017 through the end of January, the data shows a “strong positive trend for sellers,” Graham said, noting a 26-day drop in the days a home spends on the market in Sebastian County — from 131 to 105 when comparing to Feb. 1, 2016-Jan.31, 2017.

Graham also noted that Sebastian — the largest portion of the metro region — saw an increase in average sale price at $154,817 from $149,584, which is a gain of 3.5%. However, the number is in stark contrast to January’s $137,279 average sale price against January 2017’s $163,001. The last 31 days also witnessed a 7.78% drop in the number of units sold, dipping to 83 from 90 month-to-month. For the 12-month period, numbers are about even with 1,569 units sold compared to 1,570 for the previous period.

Crawford County managed to establish a positive overall trend in units sold for the combined region, moving 712 year-over-year against 680, a 4.71% increase that brought the grand total up 1.38% to 2,281 from 2,250. It beat the previous January as well with 44 units moved against 38 in January 2017. Average sale price in Crawford for the 12-month period rose to $134,018 from $123,278, an 8.71% increase. In January, the jump was more significant, hitting $150,505 from $104,746, a gain of 43.69%. And while days on market rose to 108 from January 2017’s 105, the 12-month trend is down 11.9% to 111 days from 126.

The longer trend also shows an 8.77% jump in sales volume with $388.363 million for the last 12 months compared to $357.038 million in the previous year. From those figures, Sebastian jumped 5.47% to $278.665 million from $264.205 million, and Crawford hit $109.698 million, up 18.17% from the previous 12 months’ $92.833 million.

BY THE NUMBERS (Jan for 2018; full year numbers for 2017, 2016, 2015)
• Crawford County
Unit Sales
2018: 44
2017: 701
2016: 671
2015: 606

Sales Volume
2018: $7.471 million
2017: $105.711 million
2016: $93.504 million
2015: $83.5 million

Average Sales Price
2018: $150,505
2017: $131,668
2016: $125,454
2015: $120,145

• Sebastian County
Unit Sales
2018: 83
2017: 1,571
2016: 1,558
2015: 1,459

Sales Volume
2018: $17.84 million
2017: $275.116 million
2016: $262.53 million
2015: $230.742 million

Average Sales Price
2018: $137,279
2017: $155,466
2016: $148,179
2015: $140,435

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