Realtors: February Home Sales in Arkansas Up 15 Percent

by Arkansas Business Staff  on Wednesday, Apr. 4, 2012 10:05 am  

Home sales in Arkansas were up 15.4 percent in February compared with the same month last year, according to a report Wednesday by the Arkansas Realtors Association.

The report also said the average price of homes sold remained relatively even at $135,875, down 0.04 percent, in the 43-county area the association surveys.

The full report is available here.

Year-to-date home sales were up 8.6 percent over the same time period last year, and the average price for the first two months of the year increased 1.08 percent over the same time period in 2011.

Dana Powell, association president and an executive broker with Keller-Williams Realty in Little Rock, said the report signals "good news" for the state's housing market.  

"Overall, our state was up in all categories, ie: home values, units sold and average price points," she said. "Increases ranged from over 22 percent month over month to 12 percent year over year. Buyers and sellers alike can be encouraged by signs that the market is finally turning." 

Among the state's top five markets, units sold for February were up in Benton County (252 units, up 29.2 percent), Pulaski (252, 17.2 percent) and Saline (106, 43.2 percent), and down in Washington (115, 10.2 percent) and Faulkner (83, 11.7 percent).

On average, units sold in the state were up 15.4 percent.

The highest average prices for February are found in Pulaski County, which had an average price of $180,250, up 6.3 percent. Madison County was next with an average price of $175,000, actually down 10.2 percent. Benton County was down 2.1 percent to $171,618; Saline was up 0.7 percent at $163,322, and Garland County (excluding Hot Springs Village) was up 17.5 percent at $158,789.

Year to date, the highest average home prices as calculated by ARA are found in Pulaski County with an average price of $188,727, up 6.3 percent.  Benton County is next, with an average YTD sales price of $171,186, up 6 percent. Home prices in Madison County, year to date, were up 51.2 percent to $169,800, followed by Saline ($159,787, up 1.9 percent) and Garland ($156,008, down 22.5 percent).

Year to date, 477 homes have been sold in Pulaski County, followed by 420 in Benton County, 236 in Washington, 169 in Saline and 141 in Garland.



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