Average Days on Market Continues to Improve in Little Rock Area in March

Real Estate Agent with ERA Henley Real Estate

Homes continue to take less time to sale in the most active areas of Little Rock. At the end of February the sales rate to sale all homes on the market was 8.5 months and an average market time of 126 days. At the end of April these numbers have gone down to 7.7 months and a average market time of 115 days.  The areas that continue to be the best markets are Little Rock from University to Mississippi, Maumelle, North Little Rock west of John F Kennedy Boulevard, and Sherwood. These area have an average days on the market of 81 to 96 days. The most competitive area to sale homes continues to be Chenal and western Pulaski County with an average days on market of 232 days. That is decrease form 255 at the end of February.Buying activity has increase, especially in with first time home buyers which have been motivated by the First Time Buyer Tax Credit and low interest rates. The areas that are moving the best are the areas that have price ranges that appeal to first time buyers. The area that are moving slower are areas with the more expensive properties. Housing prices usually remain stable with the absorption rate is under 9 months and most of the area are at 10 months are below. Overall sales numbers remain about the same while number of homes have decreased over the last 2 months. Hopefully these trends will continue over the next few months.

The Arkansas REALTORS Association has published the sales numbers for the state along with average sales prices in all areas of the state. A good analysis of those numbers can be found at ShootingStright.com.


MLS Solds Avg. Solds  Active Abs. Rate Aver Days
Area 6 Mos. Per Mo Listings in Mos. on Market
LR Area 5 135 22.50 122 5.4 81
Maumelle 148 24.67 146 5.9 89
Area 10 NLR 90 15.00 96 6.4 96
Sherwood 195 32.50 207 6.4 96
LR Area 7 219 36.50 266 7.3 109
Area 11 NLR 102 17.00 123 7.2 109
Otter Creek 46 7.67 81 10.6 158
LRArea 3 73 12.17 131 10.8 162
LR Area 17 88 14.67 227 15.5 232
All Areas 1096 183 1399 7.7 115
Last Month 1191 199 1650 8.3 125
Cabot 343 57.17 407 7.1 107
Jacksonville 116 19.33 165 8.5 128
All w/C&J 1439 239.83 2223 9.3 139
Chenal only 51 8.50 131 15.4 231




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