LITTLE ROCK, AR (KAIT) - The average price of existing homes in Arkansas rose by 7.7 percent over a year ago to $148,428 in January, that according to the Arkansas Realtors Association. The ARA surveyed a 42 county area for the report.
The Association also reported that the number of homes sold decreased by 1.1 percent during the month. Director of Communications for the Arkansas Realtors Association, Amy Glover Bryant said this was a great way to start off 2012.
"In our opinion these numbers reflect that there are fewer units on the market and as a result of this reduced inventory we are experiencing a higher price per sale," she said.
"This is great news for sellers and we look forward to watching what 2012 has to offer the real estate market," Bryant said.
According to the National Association of Realtors, the national median existing-home price for all housing types was $154,700 in January, down 2.0 percent from January 2011.
In the South, existing-home sales rose 3.5 percent to an annual level of 1.76 million in January but are unchanged from a year ago.
The median price in the South was $134,800, which is 0.3 percent below January 2011.
For more information, contact Glover Bryant at the Association at (501) 225-2020 or on her wireless at (501) 786-9415.