April home sales in Sebastian, Crawford counties push Fort Smith metro up for the year

Fort Smith metro home sales are trending up for the first four months of 2018 with Sebastian and Crawford counties seeing year-to-date gains of 7.68% and 10.5% in sales volume, respectively. Considering just last month, when the region closed the first quarter 11% behind in sales volume, April was a strong month.

According to data provided by Kevin King and Jonella Graham of Weichert Realtors-The Griffin Company, the combined region has logged $120.799 million in sales volume against $111.398 million during the same period last year, a climb of 8.44% even as unit sales have witnessed a 4.6% decline with 663 closings against 695 in 2017. For the month, Sebastian and Crawford added $38.065 million to the till on 205 units compared to $28.877 million on 189 through the first four months of 2017, a 31.82% jump in volume and 8.47% increase in transactions.

Sebastian County — which includes Fort Smith, the region’s largest city — contributed the majority of sales with $27.178 million on 143 units. In April of last year, the county did $20.914 million on 136, a value increase of 29.95% month-to-month and 7.68% year-to-year with $87.576 million logged thus far in 2018 versus $81.332 million in 2017. The increase is occurring even as unit sales have fallen year-to-date by 4.95% to 461 from 485 last year.

Homes also are spending less time on the market at a month-to-month average of 98 days compared to 118 last April. Days on market (DOM) are slightly higher year-to-date at 105, but still lower than last year’s 116 over the same period. While average sales price is down slightly (1.63%) for the year at $149,482 against $151,957, prices surged for the month with a $154,014 average against April 2017’s $139,220, an increase of 10.63%.

Crawford County also has witnessed its share of successes for 2018 with higher sales volume, lower DOM, and higher average sales prices. For the year, Crawford sales have risen 10.5% to $33.223 million from last year’s $30.066 million. DOM has fallen another 10.89% to 112 days versus 125 in 2017. The average sales price climbed 12.03% to $140,992 from $125,855. The only decline: a 3.81% decline in unit sales to 202 from 210 last year. But for the month, unit sales rose by around 17% to 62 from 53 in April 2017. Volume increased to $10.887 million from $7.963 million, a jump of 36.72%. Average sales price hit $155,228 from $129,130, and DOM climbed approximately 11% to 112 from 101.

BY THE NUMBERS (Jan.-April for 2018; full year numbers for 2017, 2016, 2015)
• Crawford County
Unit Sales
2018: 202
2017: 701
2016: 671
2015: 606

Sales Volume
2018: $33.223 million
2017: $105.711 million
2016: $93.504 million
2015: $83.5 million

Average Sales Price
2018: $140,992
2017: $131,668
2016: $125,454
2015: $120,145

• Sebastian County
Unit Sales
2018: 461
2017: 1,571
2016: 1,558
2015: 1,459

Sales Volume
2018: $87.576 million
2017: $275.116 million
2016: $262.53 million
2015: $230.742 million

Average Sales Price
2018: $149,482
2017: $155,466
2016: $148,179
2015: $140,435