Fort Smith metro home sales, total value rise in 2019

by Michael Tilley ([email protected]) 451 views 

Home sales in the Fort Smith metro were up almost 3% in 2019, and the value of those homes were up 8%, with one area Realtor seeing increased interest from potential homebuyers to begin 2020.

There were 3,406 homes sold in the metro during 2019, with a total value of $512.491 million, up 2.8% and 8% respectively, according to data provided by Ashlee Milton, an executive broker with Chuck Fawcett Realty in Fort Smith. The average sales price of homes sold in the region was $150,467, up from $143,284 in 2018. The average days on market was 102 in 2019, better than the 108 in 2018.

In Sebastian County, the largest population center in the metro, there were 1,642 homes sold in 2019, up just 0.1% over 2018. The value of the homes sold was $277.108 million, up 8.4% compared to 2018, and the average home price was $168,763, up 5% from 2018. Homes sold in Sebastian County represented 48.2% of all home sales in the region.

Home sales in Crawford County – the second largest populated county in the region – totaled 724 in 2019, up 5.5% for the year. The value of the homes sold was $102.728 million, up 6.5% compared to 2018, and the average home price was $141,890, up 0.1% over 2018. Homes sold in Crawford County represented 21.2% of all home sales in the region.

Milton, who has sold homes in the region for six years and is a director on the Fort Smith Board of Realtors, said 2020 could be another good year for the market.

“I’ve begun seeing an uptick in available buyers early this year already. Even in January I started getting calls from more than the average number of potential buyers ready to begin their hunt with a pre-qualification letter already in hand. Buyers seem to be getting more serious about their searches this year than in years past,” Milton said.

An estimated 681,000 new homes in the U.S. were sold in 2019, 10.3% above the 617,000 in 2018, and up 16.9% in the South. The average sales price of a home sold in the U.S. during December was $384,500, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

Following are three years of home sales data for the region and five counties within the region, which includes home sales in eastern Oklahoma.

• Fort Smith Region (Crawford, Franklin, Logan, Scott and Sebastian counties)
2019
Homes sold: 3,406
Value of home sales: $512.491 million
Average price: $150,467
Days on market: 102

2018
Homes sold: 3,314
Value of home sales: $474.842 million
Average price: $143,284
Days on market: 108

2017
Homes sold: 3,272
Value of home sales: $443.918 million
Average price: $135,672
Days on market: 116

• Sebastian County
2019
Homes sold: 1,642
Value of home sales: $277.108 million
Average price: $168,763
Days on market: 106

2018
Homes sold: 1,626
Value of home sales: $255.604 million
Average price: $157,198
Days on market: 100

2017
Homes sold: 1,578
Value of home sales: $246,275 million
Average price: $156,068
Days on market: 105

• Crawford County
2019
Homes sold: 724
Value of home sales: $102.728 million
Average price: $141,890
Days on market: 84

2018
Homes sold: 686
Value of home sales: $96.465 million
Average price: $140,621
Days on market: 95

2017
Homes sold: 706
Value of home sales: $92.778 million
Average price: $131,415
Days on market: 110

• Franklin County
2019
Homes sold: 118
Value of home sales: $14.498 million
Average price: $122,873
Days on market: 143

2018
Homes sold: 78
Value of home sales: $9.04 million
Average price: $115,900
Days on market: 155

2017
Homes sold: 117
Value of home sales: $11.409 million
Average price: $97,574
Days on market: 141

• Logan County
2019
Homes sold: 111
Value of home sales: $11.988 million
Average price: $108,004
Days on market: 143

2018
Homes sold: 127
Value of home sales: $13.781 million
Average price: $108,513
Days on market: 187

2017
Homes sold: 111
Value of home sales: $9.139 million
Average price: $82,341
Days on market: 203

• Scott County
2019
Homes sold: 42
Value of home sales: $4.1321 million
Average price: $98,387
Days on market: 89

2018
Homes sold: 33
Value of home sales: $2.736 million
Average price: $82,920
Days on market: 113

2017
Homes sold: 42
Value of home sales: $3.735 million
Average price: $88,947
Days on market: 162

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