Through the first two and a half months of 2012, home sales in Fort Smith are up nearly 15 percent, compared with the same time period last year.
Stats as of March 16 show that 139 homes in all price ranges have been sold so far this year, 17 more than by this time in 2011. In the $251,000-$400,000 range, 12 homes have been sold, beating out the seven sold in that range last year.
Another very encouraging statistic is in the new construction market. Newly constructed homes have counted for 21% of homes sold in 2012. And that construction is up 362.5% over last year, with 29 new homes sold vs. only eight in 2011.
The average sold price is down 1.4% over last year, but in all, we’re seeing some positive numbers. We’re seeing more homes moving and new homes being built and sold.
As we continue into the “recovery,” we hope to see better times for everybody, not just those people who work in real estate. New home construction means jobs. More homes sold means banks are profiting – and it means that Fort Smith residents are finding the homes they want from among those on the market.
Because our city didn’t over-build during the “good” years, we don’t have an excess of homes on the market, they way many other cities around the country have. This is probably part of what has helped the average sold price of homes in Fort Smith to actually increase over the last eight years.
This doesn’t mean we don’t still have challenges to overcome and objectives to meet. But it does mean that little by little, things are looking better. And they’ll keep looking better as long as we keep looking in the right direction.
Look up. That’s where the answers lie.