August Home Sales Trends Remain Positive for Little Rock Area

By
Real Estate Agent with ERA Henley Real Estate

The Market Absorption Rate continues to move down at the end of August in almost all areas. Out of the eleven areas that are followed in the Little Rock area all but 4 have a listing inventory of under six months and a average days on market of 90 days are less. West Pulaski county, which includes the Chenal area, remains the area with the biggest inventory but this area may have improved the most over the last few months. It has gone from an absorption rate of over a year to now a little under ten months. These trends have been slow but consistent positive trends each month. Low rates, first time buyer tax credit and good value in homes continue to push these trends.

August          
MLS Solds Avg. Solds  Active Abs. Rate Aver Days
Area 6 Mos. Per Mo Listings in Mos. on Market
           
Maumelle 225 37.50 164 4.4 66
LR Area 7 344 57.33 271 4.7 71
Sherwood 253 42.17 210 5.0 75
LR Area 5 202 33.67 168 5.0 75
Area 11 NLR 142 23.67 144 6.1 91
LRArea 3 129 21.50 132 6.1 92
Otter Creek 69 11.50 79 6.9 103
Area 10 NLR 97 16.17 135 8.4 125
LR Area 17 153 25.50 243 9.5 143
All Areas 1614 269 1546 5.7 86
Last Month 1559 260 1650 6.4 95
           
Cabot 490 81.67 431 5.3 79
Jacksonville 152 25.33 193 7.6 114
All w/C&J 2256 376.00 2170 5.8 87
           
Chenal only 92 15.33 130 8.5 127
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