Home sales in NWA up nearly 12% in 2022 1Q

by Paul Gatling ([email protected]) 1,152 views 

Year-to-date home sales through the first three months of 2022 in Northwest Arkansas’ two largest counties are booming compared with the same period last year.

There were 2,639 homes sold through March this year in Benton and Washington counties, up 11.9% from 2,358 homes sold during the same period last year. That’s according to data from the Matrix software platform used by the Northwest Arkansas Board of Realtors (NABOR) and provided to the Northwest Arkansas Business Journal by Marcus Necessary, vice president and executive broker with Weichert, Realtors-The Griffin Co.

The combined sales volume this year through March is up a whopping 36.8% — $962.1 million in the first three months this year, compared with $703.4 million in the first three months of 2021.

The NABOR data showed 1,712 home sales worth a combined $643.9 million in the first quarter in Benton County. That compares with 1,574 and $483.3 million in the same quarter a year ago.

In Washington County, agents sold 927 homes in the first three months of 2022, up from 784 in the first quarter of 2021, with a combined value of $318.1 million, up from $220 million.

The average price of each home sale continues to rise in both counties through the first quarter of 2022. In Benton County, the average home sale was $376,148, up 22.4% from $307,101 in the same period last year. In Washington County, the average home sale price through September was $343,190, up 22.2% from $280,680.