Who's Market is it Anyway? Buyers or Sellers in Arkansas?

By
Real Estate Agent with Envision Real Estate Group, LLC.

If I had a dime for everytime I was asked that question?  Well, you know the rest of the saying.  My buyers, sellers, and investors want to know the answer, and I can't blame them.  The Fort Smith/Van Buren (River Valley Market) has always been a very steady market! 

Who's market is it anyway?  Currently we are in a Buyers Market! The River Valley has a lot of homes on the market currently.  That gives buyers an advantage to be more selective and taking longer in their decision making process.  Interest rates have been great during the 4th Quater, and haven't gone up much.  With the fear of "Interest Rate Are Going to Go Up" gone and out of the window; it futher gives a buyer a sense of security and little sense of urgency.

Sellers don't Stress!  The 4th Quarter results have shown the average home sold in Sebastian Cty to be $130,000 with the average Days on the Market to be 71 days, and the average % of listed price was 96%.  Crawford Cty average home sold was $114,000 with the average Days on the Market to be 91 days, and the average % of listed price was 97%.  What does it all mean?  While buyers have more homes to choose from, sellers should become more competitive when listing their home.  We are not in the market in which the seller should take the "Low Ball Offer" ($10,000 off listed price w/$5000 in closing costs) if the home is priced correctly.

Either way, you need to be as informed as possible during your buying or selling process.  Be aware that the market can change during your process.  The River Valley is still one of the greatest areas to live in Arkansas!  The beauty and cost of living here is great!

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Fort Smith Real Estate

 

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