Home sales pace slows in Fort Smith metro home to begin 2021

The number of homes sold in the Fort Smith metro rose by less than 6% in the first two months of 2021, but the value of the sales was up 40%, a clear sign that demand for homes continues to be greater than supply.

There were 513 homes sold in the metro during January and February, up 5.8% compared with the 485 during the same period in 2020. The value of those homes sold was $90.767 million, up 40% compared with the same period in 2020, according to data provided by Ashlee Milton, an executive broker with Chuck Fawcett Realty in Fort Smith.

While the number of homes sold is lower than the 2020 trend, the value is significantly higher. 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 average price of homes sold in the metro during the first two months of 2021 was $176,936, up 32.2% compared with the $133,734 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 50% of area sales in the first two months of 2021, with the number of homes sold totaling 251, up 13% from the same period of 2020. The value of homes sold in the first two months was $48.345 million, up 53% from the $31.614 million during the same period in 2020. The average home price in Sebastian County was $176,936 in 2021, well ahead of the $133,734 in the first two months of 2020. Days on market fell from 111 in January-February 2020 to 85 in the first two months of 2021.

Crawford County home sales accounted for 17.2% of regional home sales with 88 homes sold in the first two months of 2021, down from 106 during the same period in 2020. The value of homes sold in the county was $16.004 million during the first two months of 2021, up 4.9% compared with the $15.251 million in the same period of 2020. The average home sales price was $181,869, up from $143,879 in the same period of 2020. Days on market fell from 91 in the first two months of 2020 to 57 in the first two months of 2021.

METRO HOME SALES NUMBERS
• Fort Smith Region (Crawford, Franklin, Logan, Scott and Sebastian counties, and areas of eastern Oklahoma)
January-February 2021
Homes sold: 513
Value of home sales: $90.767 million
Average price: $176,936

January-February 2020
Homes sold: 485
Value of home sales: $64.861 million
Average price: $133,734

• Sebastian County
January-February 2021
Homes sold: 251
Value of home sales: $48.345 million
Average price: $188,116

January-February 2020
Homes sold: 222
Value of home sales: $31.614 million
Average price: $142,407

• Crawford County
January-February 2021
Homes sold: 88
Value of home sales: $16.004 million
Average price: $181,869

January-February 2020
Homes sold: 106
Value of home sales: $15.251 million
Average price: $143,879

• Franklin County
January-February 2021
Homes sold: 9
Value of home sales: $1.118 million
Average price: $124,327

January-February 2020
Homes sold: 19
Value of home sales: $1.807 million
Average price: $95,147

• Logan County
January-February 2021
Homes sold: 19
Value of home sales: $2.144 million
Average price: $112,863

January-February 2020
Homes sold: 13
Value of home sales: $1.037 million
Average price: $79,822

• Scott County
January-February 2021
Homes sold: 8
Value of home sales: $1.511 million
Average price: $110,000

January-February 2020
Homes sold: 4
Value of home sales: $433,100
Average price: $108,275