Average home sale price up 26.3% in the Fort Smith metro

by Michael Tilley ([email protected]) 375 views 

The average home sale price in the Fort Smith metro in the first six months of 2021 was $189,697, up 26.3% compared to the same period in 2020. The highest metro average home price in the six-month period was $201,725 in Crawford County.

There were 2,024 homes sold in the metro between January and June, up 17% compared with the 1,729 during the same period in 2020. The pace of sales is down from the 21% in the first four months of the year. The value of those homes sold was $383.945 million, up 47.8% from the $259.671 million in the same period in 2020, according to data provided by Ashlee Milton, an executive broker with Chuck Fawcett Realty in Fort Smith.

There were 3,965 homes sold in the metro during 2020, up 16.2% compared with the 3,412 during the same period in 2019. The value of those homes sold was $649.338 million, up 13.4% compared with 2019.

“The houses that are priced well are still selling very quickly. Maybe not for tens of thousands over list like in months past, but still selling quickly and with lots of buyers vying for the same properties,” Milton responded when asked about the pace of regional home sales. “It’s still super important to be 100% ready to go as a buyer with your real estate professional and lender both on board to set your best foot forward and be taken seriously in negotiations.”

The average price of homes sold in the metro during the first six months of 2021 was $189,697, up 26.3% compared with the $150,185 during the same period of 2020. The average price was up 9.1% during 2020.

Home sales in Sebastian County, the region’s largest, accounted for 48.9% of area sales in the first six months of 2021, with the number of homes sold totaling 989, up from 839 in the same period of 2020. The value of homes sold in the first six months was $195.874 million, up 46% compared with the same period in 2020. The average home price in Sebastian County was $198,053 in the first six months, up 23.8% from the $159,983 in the first six months of 2020.

Crawford County home sales accounted for 18.5% of regional home sales with 374 homes sold in the first six months of 2021, up from 356 during the same period in 2020. The value of homes sold in the county was $75.445 million during the first six months, up from the $55.939 million in the same period of 2020. The average home sales price was $201,725, up from $157,134 in the same period of 2020.

Milton said most buyers are looking for larger homes.

“So many buyers are looking for larger homes either due to the number of people sharing the space … or because so many companies have adopted the work-from-home principle. A move in ready home with 4-plus bedrooms is akin to gold,” she said.

METRO HOME SALES NUMBERS
• Fort Smith Region (Crawford, Franklin, Logan, Scott and Sebastian counties, and areas of eastern Oklahoma)
January-June 2021
Homes sold: 2,024
Value of home sales: $383.945 million
Average price: $189,697
Days on market: 78

January-June 2020
Homes sold: 1,729
Value of home sales: $259.671 million
Average price: $150,185
Days on market: 103

• Sebastian County
January-June 2021
Homes sold: 989
Value of home sales: $195.874 million
Average price: $198,053
Days on market: 73

January-June 2020
Homes sold: 839
Value of home sales: $134.226 million
Average price: $159,983
Days on market: 102

• Crawford County
January-June 2021
Homes sold: 374
Value of home sales: $75.445 million
Average price: $201,725
Days on market: 62

January-June 2020
Homes sold: 356
Value of home sales: $55.939 million
Average price: $157,134
Days on market: 85