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Arkansas Home Sales Up 14 Percent in June

2 min read

Real estate agents in Arkansas reported a 14 percent increase in the number of homes sold statewide in June, according to the Arkansas Realtors Association Thursday.  

The average price of those homes sold increased by more than 2 percent in June, from $164,227 in June 2014 to $169,091 in June 2015. Statewide valuations in June increased by over 18 percent from last year.

Statewide, there was a 8.52 percent increase year to date of residential units sold and a 4.65 percent increase in their average price: $160,417 in 2015 compared to $153,295 in 2014.

Benton County topped the report in nearly every category, with 535 home sales in June 2015, a 22 percent increase compared to June 2014. But Saline County showed the most growth from a year ago, with 174 homes sold in June 2015, a 32 percent increase since June 2014.

Karen Crowson, a managing broker in Saline County and past president of the Arkansas Realtors Association, said that the numbers for Saline County were “very exciting” for June.

“Everything that I have seen from the association, including economists in our area, indicate that sales should continue to go up through end of the year,” Crowson said. “There are many loans available out there, there is financing available and I think there is a good supply of inventory.”

Saline County also showed the greatest percent increase in highest valuations for the month: $30.7 million in June 2015 versus $21.6 million in June 2014, a 42 percent increase.

“I think a lot of that was because we didn’t see quite the numbers from the first of the year that you typically see,” Crowson said. “A lot of the buyers from January to March were hesitant and we saw that catch up.”

Year to date, there have been 2,497 units sold in Benton County, a 14 percent increase from last year. Benton County also boasts the highest average prices for the year for 2014 at $187,624 and 2015 at $200,411.

Crowson attributed part of the the Benton County growth to the presence of Wal-Mart and its vendors.

Carroll County showed a 34 percent increase in average price for June 2015 compared to June 2014, with an average home sale price of $182,253. Washington County topped the category, however, with an average sale price of $215,088 for June 2015. 

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