Holiday Season Slows Home Sales in Little Rock Area

After months of a positive trend in the absorption rate of homes selling in the Little Rock area, the numbers show a slowing market at the end of December. All areas showed and decrease in number of sold homes and an increase in properties for sale on the market. Sold homes were down 6% and homes on the market increase by 8%. Looking at the numbers by price range. All price ranges slowed but the tend of the market below $400,000 being better than above that number continued to show a bigger gap. This change in the trend was to be some what expected since the holiday season is always the slowest time of the year for home sales. The absorption rate and days on market are still better than they were at the end of the first quarter of 2009. Most factors such as low interest rates, home buyer tax credits, and a good selection are still in place which helped to create the positive trend for most on 2009. Therefore it should be expected that the better sales will be seen again in January and the coming months.

What does this mean if you are thinking about selling your home or have it on the market at this time? It shows that it is till a very competitive market to get a home sold. The positive news is that there are still a lot of homes selling but you must be priced right,have it in excellent condition, and staged to show to sell. What we are seeing that homes meeting those conditions are selling way below average and those that are not take a long time to sale or do not sale at all.