Sebastian, Crawford counties post home sales increases for month, up over 14% year-to-date

by Aric Mitchell (amitchell@talkbusiness.net) 134 views 

Fort Smith metro home sales are trending up for the first five months of 2018 with Sebastian and Crawford counties seeing year-to-date gains of 17.31% and 8.02% in sales volume, respectively.

Considering March, when the region closed the first quarter 11% behind in sales volume, the last two months have been two particularly strong ones.

According to data provided by Kevin King and Jonella Graham of Weichert Realtors-The Griffin Company, the combined region has logged $164.349 million in sales volume against $143.353 million during the same period last year, a climb of 14.65% even as unit sales have witnessed a 0.56% decline with 894 closings against 899 in 2017.

For the month, Sebastian and Crawford added $42.699 million to the till on 228 units compared to $31.952 million on 204 in May 2017, a 33.64% jump in volume and 11.77% increase in transactions.

Sebastian County – which includes Fort Smith, the region’s largest city – contributed the majority of sales with $31.615 million on 159 units. In May of last year, the county did $20.947 million on 127, a value increase of 50.93% month-to-month and 17.31% year-to-year with $119.982 million logged thus far in 2018 versus $102.28 million in 2017. Transactions have picked up as well, with 622 units sold versus 612 during the same period last year.

Homes also are spending less time on the market at a month-to-month average of 97 days compared to 99 last May. Days on market (DOM) are slightly higher year-to-date at 103, but still lower than last year’s 113 over the same period. Average sales price also has improved 3.86% at $156,190 per sale against $150,379 in 2017. Prices surged for the month with a $175,159 average against May 2017’s $144,354, an increase of 21.34%.

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 8.02% to $44.367 million from last year’s $41.073 million. DOM has fallen another 9.92% to 109 days versus 121 in 2017. The average sales price climbed 12.88% to $141,467 from $125,322.

The only decline: a 5.23% decline in unit sales to 272 from 287 last year. For the month, there were 10.39% fewer transactions with 69 closings against 77 in May 2017. Volume increased slightly (0.72%) to $11.084 million from $11.005 million. Average sales price hit $144,058 from $123,869, and DOM climbed approximately 5.5% to 103 from 109.

BY THE NUMBERS (Jan.-May for 2018; full year numbers for 2017, 2016, 2015)
• Crawford County
Unit Sales
2018: 272
2017: 701
2016: 671
2015: 606

Sales Volume
2018: $44.367 million
2017: $105.711 million
2016: $93.504 million
2015: $83.5 million

Average Sales Price
2018: $141,467
2017: $131,668
2016: $125,454
2015: $120,145

• Sebastian County
Unit Sales
2018: 622
2017: 1,571
2016: 1,558
2015: 1,459

Sales Volume
2018: $119.982 million
2017: $275.116 million
2016: $262.53 million
2015: $230.742 million

Average Sales Price
2018: $156,190
2017: $155,466
2016: $148,179
2015: $140,435

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