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COUNTY HOME SALES FLAT ON APRIL, DOWN YEAR TO DATE

By Amy Riggin/OF THE COMMERCIAL STAFF
Wednesday, June 3, 2009 8:50 AM CDT

Jefferson County real estate agents sold one more home in April compared to April 2008, while year-to-date sales were down 12.03 percent, the Arkansas Realtors Association reported Tuesday.

The state sold a total of 2,059 homes in April, down 8.04 percent from April 2008 sales. Year-to-date home sales in Arkansas were down 18.17 percent.

Jefferson County reported selling 37 homes valued at about $3.53 million in April compared to 36 homes valued at $3.4 million during the same month last year. Year-to-date, the county has sold 117 homes valued at $11.67 million compared to 133 homes valued at $13.03 million at this time last year.

The average home price in Jefferson County rose 1.06 percent from April of last year to $95,514. Year-to-date, the average price of a Jefferson County home has risen 1.76 percent to $99,720.

The association reported that real estate agents are encouraged because April sales represent “a substantial improvement” over sales earlier in the year. Statewide sales dropped 20 percent in March and 22 percent in February.

The association also pointed out that, historically, the best sales months are yet to come, from May through August.

“We expect to see that play out again this year and Realtors are hopeful the projected market momentum in those months will carry through in the fall,” spokesman Ethan Nobles said.

Arkansas County sold 19 homes in April, up from seven the same month last year; Ashley County sold one home, down from seven; and Grant County sold seven compared to nine last year.

Year-to-date, Arkansas County saw an increase from 24 to 41 homes; Ashley County saw a decline from 24 to 14 homes; and Grant County rose from 33 to 40 homes.

Pulaski County led the decline among the state’s top markets in April with a 10.44-percent drop, followed by Sebastian County (7.97 percent), Benton County (4.4 percent) and Faulkner County (2.52 percent).

Statewide, home prices averaged $141,953 during April, down 2.59 percent from $145,733 a year earlier. Benton County led the decline in average home prices, falling 15.49 percent to $157,012, followed by Washington County, which saw a 9.85-percent drop to $156,778.

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