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Little Rock Arkansas Monthly Trends Report for June Shows Increases in All Areas

By
Real Estate Agent with ERA Henley Real Estate

The market for homes selling in Little Rock most active areas show increases in the number of sales for 6 months in all areas that are followed except for the Jacksonville which was down. The areas of Little Rock without Cabot and Jacksonville increased by 11%. There was also an increase of number of listings that are on the market for sale, up 31%. So even though sales were up the Absorption Rate and Average Days on the market increased in all areas accept for the Chenal and west Pulaski County area which decrease. Even with this decrease this area remains with the highest Absorption Rate but still good news for that market.

What does this mean for buyers and sellers in our area? I think it shows that buyers are becoming more confident and are becoming more active. The number of homes on the market increasing is because of a lot of factors probably. Seller's seeing more sales are more confident to put homes on market, employment changes in our market, and a normal time of year when listings increase are all factors that may have contributed to the increase in listings. The trend had been down for active listings till this month. If this is a trend or just a one month adjustment will need to be followed at the end of July.

Absorption Rate Through June 2009

MLS Solds Avg. Solds  Active Abs. Rate Aver Days
Area 6 Mos. Per Mo Listings in Mos. on Market
           
Maumelle 181 30.17 167 5.5 83
Area 10 NLR 101 16.83 101 6.0 90
LR Area 5 158 26.33 159 6.0 91
Sherwood 219 36.50 221 6.1 91
LR Area 7 276 46.00 291 6.3 95
Area 11 NLR 107 17.83 141 7.9 119
Otter Creek 57 9.50 80 8.4 126
LRArea 3 100 16.67 142 8.5 128
LR Area 17 135 22.50 242 10.8 161
All Areas 1334 222.33 1544 6.9 104
Last Month 1197 200 1178 6 89
           
Cabot 416 69.33 463 6.7 100
Jacksonville 128 21.33 193 9.0 136
All w/C&J 1878 313.00 2200 7.0 105
           
Chenal only 81 13.50 134 9.9 149

Comments (2)

Donna Schoby
Liberty Bank of Arkansas - Bentonville, AR

Rusty, Thanks for the update!

Jul 07, 2009 05:11 PM
Rusty Armstrong
ERA Henley Real Estate - Little Rock, AR

Thanks for reading. How is the market up in the north west part of the state?

Jul 08, 2009 12:55 AM