April home sales in Sebastian, Crawford counties push Fort Smith metro up for the year

by Aric Mitchell (amitchell@talkbusiness.net) 180 views 

Fort Smith metro home sales are trending up for the first four months of 2018 with Sebastian and Crawford counties seeing year-to-date gains of 7.68% and 10.5% in sales volume, respectively. Considering just last month, when the region closed the first quarter 11% behind in sales volume, April was a strong month.

According to data provided by Kevin King and Jonella Graham of Weichert Realtors-The Griffin Company, the combined region has logged $120.799 million in sales volume against $111.398 million during the same period last year, a climb of 8.44% even as unit sales have witnessed a 4.6% decline with 663 closings against 695 in 2017. For the month, Sebastian and Crawford added $38.065 million to the till on 205 units compared to $28.877 million on 189 through the first four months of 2017, a 31.82% jump in volume and 8.47% increase in transactions.

Sebastian County — which includes Fort Smith, the region’s largest city — contributed the majority of sales with $27.178 million on 143 units. In April of last year, the county did $20.914 million on 136, a value increase of 29.95% month-to-month and 7.68% year-to-year with $87.576 million logged thus far in 2018 versus $81.332 million in 2017. The increase is occurring even as unit sales have fallen year-to-date by 4.95% to 461 from 485 last year.

Homes also are spending less time on the market at a month-to-month average of 98 days compared to 118 last April. Days on market (DOM) are slightly higher year-to-date at 105, but still lower than last year’s 116 over the same period. While average sales price is down slightly (1.63%) for the year at $149,482 against $151,957, prices surged for the month with a $154,014 average against April 2017’s $139,220, an increase of 10.63%.

Crawford County also has witnessed its share of successes for 2018 with higher sales volume, lower DOM, and higher average sales prices. For the year, Crawford sales have risen 10.5% to $33.223 million from last year’s $30.066 million. DOM has fallen another 10.89% to 112 days versus 125 in 2017. The average sales price climbed 12.03% to $140,992 from $125,855. The only decline: a 3.81% decline in unit sales to 202 from 210 last year. But for the month, unit sales rose by around 17% to 62 from 53 in April 2017. Volume increased to $10.887 million from $7.963 million, a jump of 36.72%. Average sales price hit $155,228 from $129,130, and DOM climbed approximately 11% to 112 from 101.

BY THE NUMBERS (Jan.-April for 2018; full year numbers for 2017, 2016, 2015)
• Crawford County
Unit Sales
2018: 202
2017: 701
2016: 671
2015: 606

Sales Volume
2018: $33.223 million
2017: $105.711 million
2016: $93.504 million
2015: $83.5 million

Average Sales Price
2018: $140,992
2017: $131,668
2016: $125,454
2015: $120,145

• Sebastian County
Unit Sales
2018: 461
2017: 1,571
2016: 1,558
2015: 1,459

Sales Volume
2018: $87.576 million
2017: $275.116 million
2016: $262.53 million
2015: $230.742 million

Average Sales Price
2018: $149,482
2017: $155,466
2016: $148,179
2015: $140,435

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