Sebastian, Crawford county home sales post fourth consecutive month of gains

by Aric Mitchell (amitchell@talkbusiness.net) 135 views 

The Fort Smith region — Sebastian and Crawford counties — experienced an uptick in month-to-month and year-to-date home sales through values and unit sales.

Considering March, when the region closed the first quarter 11% behind in sales volume, the last four months have been particularly strong. According to data provided by Jonella Graham and Kevin King of Weichert Realtors – The Griffin Company, combined sales for July climbed 4.74% with $40.125 million on 235 units against $38.309 million on 213 the previous year. The annual performance improved to $247.852 million on 1,375 from $218.31 million on 1,340, a 13.53% increase.

For Sebastian County, sales climbed 2.26% with $28.996 million on 165 units against $28.355 million on 146 the previous year. The annual performance improved to $176.994 million on 951 from $157.916 million on 925, a 12.08% increase. Days on market (DOM) fell 13.76% to 94 days from 109 month-to-month and 6.31% to 104 days from 111 year-to-date. Average sales price for the month registered at $161,227 from $181,381, a drop of 11.11%.

Graham said The market had one home sell for $1.1 million in July 2018, “but all the other home sales were below $500,000” while last July witnessed the sales of five homes for over $500,000, “which is quite unusual” and drove the average price up by over $20,000, she added. Year-to-date, the average selling price was $157,157 against $155,138 in 2017, a slight improvement of 1.3%.

For Crawford County, sales climbed 11.8% with $11.129 million on 70 units against $9.954 million on 67 the previous year. The annual performance improved to $70.858 million on 424 from $60.394 million on 415, a 17.33% increase. DOM fell 28.57% to 80 days from 112 month-to-month and 10.53% to 102 days from 114 year-to-date. Average sales price for the month registered at $146,479 from $135,044, an 8.74% improvement. Year-to-date, the amount was $144,589 against $127,786 in 2017, an increase of 13.15%.

BY THE NUMBERS (Jan.-July for 2018; full-year numbers for 2017, 2016, 2015)
• Crawford County
Unit Sales
2018: 424
2017: 701
2016: 671
2015: 606

Sales Volume
2018: $70.858 million
2017: $105.711 million
2016: $93.504 million
2015: $83.5 million

Average Sales Price
2018: $144,589
2017: $131,668
2016: $125,454
2015: $120,145

• Sebastian County
Unit Sales
2018: 951
2017: 1,571
2016: 1,558
2015: 1,459

Sales Volume
2018: $176.994 million
2017: $275.116 million
2016: $262.53 million
2015: $230.742 million

Average Sales Price
2018: $157,157
2017: $155,466
2016: $148,179
2015: $140,435

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