Fort Smith/Van Buren real estate market prices reflect stability

Minor downward price adjustments and a steadily declining home inventory suggest relative stability in the Fort Smith and Van Buren residential real estate market.

Average and median prices of new and existing homes in the Fort Smith/Van Buren markets dropped 7 percent and 2.9 percent, respectively, between Aug. 4 and Nov. 10.

The report from the Arkansas Realtors Association shows the following:

Fort Smith/Van Buren real estate markets

Average list price of new and existing homes

4 AUG: $203,911

10 NOV: 189,539

Median list price of new and existing homes

4 AUG: $154,000

10 NOV: $149,500

Inventory of new and existing homes

4 AUG: 1,116

10 NOV: 1,081

Statewide, the inventory of new and existing homes dropped from 14,070 in early August to 13,393 by Nov. 10.

In Northwest Arkansas, average list prices of new and existing homes fell from $237,943 in early August to $234,364 by Nov. 10, a 1.5 percent drop. The inventory of homes in that market has dropped 7 percent from 6,767 on Aug. 4 to 6,288 by Nov. 10.