Home Sales Show Small Improvement

The May housing market report from the Arkansas Realtors Association shows sales are much improved in northwest Arkansas.

Sales in Benton and Washington counties had improved some in April, but the May report shows an actual gain in sales over the same time last year in Benton County, and sales in Washington County matched last year’s figures after a positive report in April.

There were 325 single-family, new and existing homes sold in Benton County in May compared with 323 sales in the same month last year. In Washington County, 188 homes were sold in both May 2009 and 2008.

In Washington County, the average sales price was $164,703 — down 8.4 percent from $179,793 in May last year. In Benton County, the average sales price in May was $172,914 — down 2.2 percent from $176,781 a year ago.

On a statewide basis, homes that are sold by Realtors were down 10.5 percent for May. During the month, 2,176 homes were sold, compared with 2,431 in May 2008.

The average price of a home sold in May was $149,984, down 2 percent from last year’s average of $153,053.

For the first five months of the year, home sales by Realtors are down 16.3 percent in the state and the average prices has fallen 4 percent to $142,435.