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Homes sales up again in northwest Arkansas

By: 18 March 2011 One Comment

February represented the third straight month of improved homes sales in northwest Arkansas.

There were 320 single-family, new and existing homes sold in Benton, Carroll, Madison and Washington counties in February — up slightly from 315 sales in the same month a year ago. In the first two months of 2011, 661 homes were sold in northwest Arkansas — up 19.31 percent over 554 sales in January and February last year. The average sales price in February was $158,900, an increase of 11.39 percent over $142,655 in the same month last year.

Meanwhile, the average sales price per square foot declined 3.16 percent in February to $72.98 while the average price of all houses sold in February increased 8.23 percent to 2,064 square feet. Click here for the full February housing market report from northwest Arkansas.

Harris

What’s going on with the housing market in northwest Arkansas? First Arkansas News asked Eric Harris, an agent with Weichert Realtors — Downum Group in Springdale — that question.

“It looks as if the market in Northwest Arkansas is strengthening,” he said. “Despite one of the worst snow storms on record with two feet of snow in February the number of units sold actually increased over the same month last year. The average sales price was also up as was the total square footage of homes sold. The overall days on market actually declined by seven days in the monthly comparison and five days in the year-to-date comparison.

“It is a great time to buy as interest rates are still at extremely low levels and I would still consider it a buyer’s market.”

Stay tuned — we’ll have central Arkansas housing market numbers posted in a week or so.

About: Ethan C. Nobles:
Benton resident. Rogue journalist. Recovering attorney. Email = Ethan@FirstArkansasNews.net.

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