The Arkansas Realtors Association said September home sales were up 10 percent over the same month a year ago, but the average price declined 1 percent. For the quarter, sales were up 16 percent, but prices down 4 percent.
The Arkansas REALTORS® Association, the voice of real estate in Arkansas, announced that September home sales were 10.28 percent higher than September 2010 while the average price of a home in Arkansas increased by less than 1 percent. For the quarter (July - September), home sales increased 16 percent with the average price of a home in Arkansas decreasing almost 4 percent.
"As the Arkansas REALTORS® Association has been predicting, Arkansas home sales continue to be quite strong," said Amy Glover Bryant, Director of Communications for the Association. "In the third quarter, Arkansas REALTORS® sold a total of 6,671 homes versus 5,719 in the third quarter of 2010. Average prices during that time period were $143,944 compared to the third quarter of 2010 when the average price of a home in Arkansas was $149,430. Affordability and strong mortgage rates are certainly helping to drive this year's improved numbers. We do expect a slow down as we move in to the fall and in to the holiday season when sales are traditionally slower," said Glover Bryant.