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September housing sales up in northwest Arkansas

By: 25 October 2011 One Comment

After two months of increasing sales but dropping prices, the September housing market report from northwest Arkansas was a bit of a surprise.

Why? Both homes sales and average prices in Benton, Carroll, Madison and Washington counties were up in September. Specifically, there were 532 single-family, new and existing homes sold in northwest Arkansas in September — up 10.6 percent from 481 sales in the same month last year. The average sales price in September was $155,259 — up 3.42 percent from $150,130 sales in September 2010. Through September, there were 4,765 sales — up 10 percent from 4,332 sales in the first nine months of 2010. The average sales price through September was $150,046, down 6 percent from  $159,618 6 through the first three quarters of 2010.

For a more in depth look at average days on market, sales price to list price ratios, sales prices per square foot, etc., click here to download the Excel version of the September report or here for the PDF.

Harris

Eric Harris, an agent with Weichert Realtors – Downum Group in Springdale — said he is encouraged by the September report.

“It appears the market is stabilizing in northwest Arkansas as the average sales price increased month over month and year to date,” he said, adding that there’s still some room for improvement as homes sat on the market for an average of 162 days before they sold in September compared to 149 days in the same month last year. “An interesting note was that the days on market actually increased. The total homes sold increased nearly 10% month over month and year to date.

“It’s a great time to buy. With the market stabilizing and interest rates at record lows don’t miss out on a buying opportunity in this market.”

What happened in the central Arkansas market in September? Click here and see for yourself.

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

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