Arkansas Realtors: Home Sales Up 5 Percent in May

by Lee Hogan  on Friday, Jun. 27, 2014 11:26 am  

Pulaski County led the way in May with 483 homes sold. It was followed by Benton, 440, Washington, 215, Saline, 158, and Sebastian, 143, counties. Overall, there were 1,439 homes sold in the top five markets in May. That was 103 more homes than was sold a year ago. It was also a five-year high for homes sold in May.

Home Valuations

Home valuations were up more than $19 million in May compared to totals from a year ago. This year's homes weighed in at $427 million. 

Percentage wise, statewide valuations were up 4.6 percent from $407 million in May 2013.

Pulaski County had the highest valuation at $98 million. It was followed by Benton, $85 million, Washington, $40 million, Saline, $26 million, and Garland, $20 million, counties.

Valuations in 2014 have been consistently near the top when looking at monthly totals since 2009. So far, three months in 2014 have set five-year highs in valuations, including May. Other months were January, $232 million, and February, $263 million. 

Totals in March, $319 million, and April, $364 million, were both the second-highest total for that month since 2009.

When looking at monthly averages of home valuations from 2010 to 2013 compared to valuations in 2014, this year has vastly outperformed.

Home Prices Down 

While home prices were at the highest level for the year in May, the month's average was down $1,300 from a year ago.

Still, the average home price in May, $160,450, was the second-highest price in May in the past five years.

Pulaski County had the highest average home price at more than $204,300. It was followed by Benton, $195,325, Washington, $186,870, Garland, $182,370, and Carroll, $167,594, counties.

 

 

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