Home Sales and Inventory Numbers Improve in Little Rock Area

Published 07 December 09 04:13 PM | Rusty Armstrong 

Sales for the six month period from June 1 through November continue to increase each month. Average days on the market for the target areas has drop to 64 days down from 77 days at the end of October. For the first time every area showed improving numbers over the October numbers. The number of sales increased about 5% and the number of homes for sale on the market went down.  Only the west Pulaski County and Chenal area had over a six month supply of homes. This inventory reduction is due to increased sales and some homes that did not sale being taken off the market. It will be interesting to see if these trends can continue through December. December sales tend to slow because of the holidays but right now activity seem to be high for December. First Time Buyer and Move up Buyer Tax Credits should keep the market moving at to it runs out in April. Hopefully by then the market will have improved enough to carry on with out the tax credits.

 

November          
MLS Solds Avg. Solds  Active Abs. Rate Aver Days
Area 6 Mos. Per Mo Listings in Mos. on Market
           
LR Area 7 398 66.33 215 3.2 49
Maumelle 258 43.00 153 3.6 53
Sherwood 261 43.50 169 3.9 58
LR Area 5 236 39.33 159 4.0 61
LRArea 3 164 27.33 115 4.2 63
Area 11 NLR 155 25.83 120 4.6 70
Area 10 NLR 110 18.33 87 4.7 71
Otter Creek 67 11.17 57 5.1 77
LR Area 17 154 25.67 209 8.1 122
All Areas 1803 301 1284 4.3 64
Last Month 1712 285 1471 5.2 77
           
Cabot 543 90.50 351 3.9 58
Jacksonville 158 26.33 178 6.8 101
All w/C&J 2504 417.33 1813 4.3 65
           
Chenal only 89 14.83 102 6.9 103
           
           
Price Range          
100-200 748 124.67 401 3.2 48
201-300 361 60.17 260 4.3 65
301-400 141 23.50 146 6.2 93
401-500 53 8.83 61 6.9 104
501-999 56 9.33 118 12.6 190
1000000+ 4 0.67 44 66.0 990

 

 

 

Comments

# Little Rock Homes Blog by Rusty Armstrong said on January 7, 2010 3:05 PM:

After months of a positive trend in the absorption rate of homes selling in the Little Rock area, the

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About Rusty Armstrong

Broker Owner of ERA Armstrong Team, REALTORS in Little Rock, Arkansas. After teaching and coaching in Texas, I enter real estate with my father-in-law Sam Reynolds in 1978. I work as a sales agent, sales manager, and broker for companies till starting The Armstrong Team, REALTORS in 1994 with business partner Jerry Ann Hill. We affiliated with ERA Franchise System 6 years ago. I have been active in the REALTORS Associaion and I am a past president of the Little Rock Board and local MLS. I have been active teacher and trainer of agents for over 20 years.