Monthly Home Sales Trends Remain Positive in May for Little Rock Arkansas Area

By
Real Estate Agent with ERA Henley Real Estate

This monthly report has been tracking the home sales trends in the most active areas of Little Rock, North Little Rock and Maumelle. Each month it looks at the number of sold properties in the past 6 months and using that sales rate to see how many months it would take to sale all the listed homes at this sales rate. Using these figures it show a more accurate average days of market for home sales. Over the last few months the trends have shown a wide range of sales rates in our market, but trends have been slightly positive to unchanged. The May report shows very positive trends in both number of sold homes incresing and a decrease in the number of homes on the market in all areas the in the report. The area with the lowest absorption rate and average days on the market continues to be the area of Little Rock from University Avenue to Mississippi that is north of I-430. This area has only a 4.5 month supply of homes on the market which makes an average days on the market of 67 days. Maumelle, western part of North Little Rock, and Sherwood are all under 5 months supply of homes on the market. Chenal and western Pulaski County continue to be the area with the highest absorption rate with just under a 12 month supply and an average days on market of 176 days. This area had the biggest positive move in May improving from a 15.5 months supply of homes and 232 average days on market. Even with these positive numbers it remains a very competitive market to selling a home. The properties in the best condition and priced the best are selling very fast but thoes not are staying on the market for a long period of time. It still remains a buyers market in most price ranges excep for homes priced below $200,000. Buyers in this price range have been very active because of the First Time Buyer Tax Credit, FHA and VA loans, and low interest rates.

Average Days of Market by Asorption Rate for May

 

           
MLS Solds Avg. Solds  Active Abs. Rate Aver Days  
Area 6 Mos. Per Mo Listings in Mos. on Market  
             
LR Area 5 144 24.00 107 4.5 67  
Maumelle 157 26.17 129 4.9 74  
Area 10 NLR 91 15.17 76 5.0 75  
Sherwood 206 34.33 167 4.9 73  
LR Area 7 243 40.50 203 5.0 75  
Area 11 NLR 106 17.67 107 6.1 91  
Otter Creek 54 9.00 69 7.7 115  
LRArea 3 94 15.67 121 7.7 116  
LR Area 17 102 17.00 199 11.7 176  
All Areas 1197 200 1178 5.9 89  
Last Month 1096 183 1399 7.7 115  
             
Cabot 367 61.17 380 6.2 93  
Jacksonville 143 23.83 119 5.0 75  
All w/C&J 1707 284.50 1677 5.9 88  
             
Chenal only 59 9.83 100 10.2 153
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Location:
Arkansas Pulaski County Little Rock
Tags:
home for sale arkansas
market trends
little rock
north little rock
rea estate market conditions

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Additional Information

Little Rock and Central Arkansas real estate sales information on market conditions, homes for sale, and marketing ideas by Rusty Armstrong of ERA Armstrong Team, REALTORS.