Number of home sales up more than 31% in Fort Smith metro

by Michael Tilley ([email protected]) 423 views 

The number of homes sold in the Fort Smith metro in the first 11 months of 2021 is up more than 31% compared with the same period in 2020, with the average home sales price up more than 20%. Commercial property sales were up more than 60%.

There were 4,028 homes sold in the metro between January and November, up 31.3% compared with the 3,067 during the same period in 2020. The value of those homes sold was $780.063 million, up 34.5% from the $579.971 million in the same period in 2020, according to data provided by Ashlee Milton, an executive broker with Chuck Fawcett Realty in Fort Smith.

Metro area data comes from Crawford, Franklin, Logan, Scott and Sebastian counties in Arkansas, and parts of eastern Oklahoma.

The gain in the number of homes is well ahead of the 11.8% in the first nine months of 2021, but the percentage gain in the value of the homes sold is down from the 37.5% in the first nine months.

The average home sale price in the Fort Smith metro in the first 11 months of 2021 was $193,660, up 20.4% compared to the same period in 2020. The highest average home price in the 11-month period was $203,322 in Sebastian County.

2021 home sales have already surpassed what was a significant increase in 2020. 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.

SEBASTIAN, CRAWFORD TRENDS
Home sales in Sebastian County, the region’s largest, accounted for 49.5% of area sales in the first 11 months of 2021, with the number of homes sold totaling 1,995, up from 1,775 in the same period of 2020.

The value of homes sold in the first 11 months was $397.494 million, up 32.5% compared with the same period in 2020. The average home price in Sebastian County was $203,322 in the first 11 months, well ahead of the $168,989 in the first 11 months of 2020. Days on market during the first 11 months was 68, below the 97 days during the same period in 2020.

Crawford County home sales accounted for 19.5% of regional home sales with 786 homes sold in the 11 months of 2021, up from 716 during the same period in 2020. The value of homes sold in the county was $158.805 million during the first 11 months, up from the $120.991 million in the same period of 2020. The average home sales price was $202,042, up from $168,982 in the same period of 2020.

Days on market in Crawford County was 57, well below the 81 in the same period of 2020.

MULTI-FAMILY, COMMERCIAL SALES
There were 128 multi-family (apartment) property sales in the Fort Smith metro during the first 11 months of the year, up 26.7% from 101 in the same period in 2020. The value of the sales was $43.959 million, up from the $31.975 million in the same period of 2020.

The region had 117 commercial property sales in the first 11 months, up 60.3% compared with the 85 in the same period of 2020. The value of the sales totaled $46.143 million, up 90% compared with the $24.296 million in the same period of 2020.

METRO HOME SALES NUMBERS
• Fort Smith Region (Crawford, Franklin, Logan, Scott and Sebastian counties, and areas of eastern Oklahoma)
January-November 2021
Homes sold: 4,028
Value of home sales: $780.063 million
Average price: $193,660
Days on market: 70

January-November 2020
Homes sold: 3,067
Value of home sales: $579.971 million
Average price: $160,790
Days on market: 100

• Sebastian County
January-November 2021
Homes sold: 1,995
Value of home sales: $397.494 million
Average price: $203,322
Days on market: 68

January-November 2020
Homes sold: 1,775
Value of home sales: $299.955 million
Average price: $168,989
Days on market: 97

• Crawford County
January-November 2021
Homes sold: 786
Value of home sales: $158.805 million
Average price: $202,042
Days on market: 57

January-November 2020
Homes sold: 716
Value of home sales: $120.991 million
Average price: $168,982
Days on market: 81