Sebastian, Crawford break $200 million in home sales through the first half of 2018

by Aric Mitchell (amitchell@talkbusiness.net) 278 views 

Fort Smith Metro home sales broke the $200 million mark in the first half of 2018 with Sebastian and Crawford counties seeing year-to-date gains of 13.7% and 18.15% in sales volume, respectively.

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

According to data provided by Kevin King and Jonella Graham of Weichert Realtors-The Griffin Company, the combined region has logged $206.907 million in sales volume against $180 million during the same period last year, a climb of 14.95% while unit sales were just about even, with a 0.8% increase on 1,136 closings compared to 1,127 in 2017.

For the month, Sebastian and Crawford counties added $41.958 million to the six-month total on 239 units compared to $36.647 million on 228 in June 2017, a 14.49% jump in volume and 4.83% increase in transactions.

Sebastian County – which includes Fort Smith, the region’s largest city – contributed the majority of sales with $26.732 million on 157 units. In June of last year, the county did $27.281 million on 167, a volume decrease of 2.01% month-to-month. However, it remained up year-to-date with a 13.7% climb of $147.313 million versus $129.561 million in 2017. Transactions have picked up as well, with 782 units sold versus 779 the previous year.

Homes also are spending less time on the market at a year-to-date average of 106 days compared to 112 through the first half of 2017. Days on market (DOM) is slightly higher month-to-month at 120 against June 2017’s 107 days. The average sales price has improved 4.07% at $156,327 per sale against $150,219 in 2017. Prices for the month reflected the year-to-date tally with a $156,048 average against June 2017’s $149,633, an increase of 4.29%.

Crawford County 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 18.15% to $59.594 million from last year’s $50.439 million. DOM has fallen another 6.96% to 107 days versus 115 in 2017. The average sales price climbed 14.1% to $144,215 from $126,389.

Unit sales — last month’s only decline — recovered in June with a 34.43% increase in transactions. Crawford moved 82 units over the last 30 days against June 2017’s 61, bringing the year-to-date performance into positive territory. Through the first six months of 2018, the county has witnessed 354 sales against 348 in 2017, a 1.72% gain.

As for the remaining month-to-month figures, volume increased significantly (62.57%) to $15.226 million from $9.366 million; average sales price hit $153,332 from $131,407; and DOM hit 98 days from 84 in June 2017, an increase of 16.67%.

BY THE NUMBERS (Jan.-June for 2018; full-year numbers for 2017, 2016, 2015)
• Crawford County
Unit Sales
2018: 354
2017: 701
2016: 671
2015: 606

Sales Volume
2018: $59.594 million
2017: $105.711 million
2016: $93.504 million
2015: $83.5 million

Average Sales Price
2018: $144,215
2017: $131,668
2016: $125,454
2015: $120,145

• Sebastian County
Unit Sales
2018: 782
2017: 1,571
2016: 1,558
2015: 1,459

Sales Volume
2018: $147.313 million
2017: $275.116 million
2016: $262.53 million
2015: $230.742 million

Average Sales Price
2018: $156,327
2017: $155,466
2016: $148,179
2015: $140,435

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