By Lloyd Sherman
This report covers the current activities against the same timeframe last year. In this case, January of 2022 vs January of 2023. It also reflects the results for 2020, 2021, & 2022. I also break down sales on single-family properties by county and provide some additional granular data.
Information provided comes directly from the MLS (Cooperative Arkansas Realtors MLS – CARMLS) and contains only information from within the Village boundaries. Other sources may be providing their statistics based on zip code and most of them also contain lot and townhome information, which this report breaks out as their own categories. It is also worth to note these numbers are provided several days after the month has closed which may result in differences down the road due to data not having been updated by the Realtor community. This report is effective with data available on 2/8/2023.
Single Family properties sold in January 2023
- *32 closed in January – 32 for 2023
- Available for sale = 75 (As of February 1, 2023)
- Average selling price – $305,825
- Median selling price – $276,500
- Average selling price per square foot – $142.41
- Average days on market – 20
- Under Contract – 25
- Taking Backup Offers – 27
*Number may actually be 31 as of the date of this report, clarification has not been received.
January 2023 in Saline County closed 14 of the 32, with an average selling price of $391,850 or $163.50 per square foot (psf). *Eighteen were closed in Garland County at an average selling price of $238,196 or avg psf of $122.15.
*May actually be 17.
Four (4) of the homes closed in January 2023 were new builds. The average selling price of these four homes was $454,419 or $204,87 per square foot. 20 new builds remain in the current inventory of homes available for sale.
Single Family properties sold in January 2022
- 43 closed – 43 for 2022
- Average selling price – $311,307
- Median selling price – $280,000
- Average price per square foot – $138.51
- Average days on market 21
State of the 2022 Market
1) Given the state of the economy, our inventory of available homes, while it remains relatively low compared to previous years, is adequate for the current demand.
2) 59.4% of the closed home sales in January 2023 were cash transactions
3) January is considered one of the non-prime months for sales. However, it is interesting to note that year over year, we continue to show lower sales closed. Between townhomes and single-family sales, we are running nine (9) properties behind where we were in January 2022.
4) On a national basis, “experts” are predicting a slow year for house sales and their projections are that by January 2024 there will be a 10% erosion of house values from where they were at the end of 2022. While HSV may follow the same path as the national trend, it should be noted that we have a unique market that should continue to attract those who want to escape high taxes and crime.
NOTE: Keep in mind that these numbers only include transactions that have gone through the MLS and as such, will not include those where lot owners have contracted directly with a builder, or someone has sold FSBO.
Townhome sales for YTD ’23 are 5. This exceeds the number closed in January 2022. The trend with townhome sales is that the price per square foot remains high, but we will have to see if this category follows suit with what the “experts” say will happen to the housing market in the years to come.
Lot sales for the month of January 2023 were nine, which is significantly lower than the 21 sold in January 2022.
The overall inventory of available MLS lots is 606. This does not include the 5,506 lots that are owned by the POA. There are also another 6027 that are in the Delinquent/Unproductive category. While the POA reported revenues of $74,596 for 2022, both the owned and delinquent categories increased over where they were at the end of November 2022.
Information provided comes directly from the MLS (Cooperative Arkansas Realtors MLS – CARMLS) and contains only information from within the Village boundaries. Other sources may be providing their statistics on zip code and most of them also contain lot and townhome information, which this report breaks out as their own categories. It is also worth noting these numbers are provided several days after the month has closed which may result in differences down the road due to data not having been updated by the Realtor community.
DISCLAIMER: Many continue to ask how long this market will continue. Given the current national climate, I don’t see much of a change in our current market for at least the remainder of These statements represent only the opinions of the writer and the questions I have about the current market conditions and how much further buyers will go before the price becomes a limiting decision. The fact that many are fleeing high-density areas and relocating to places like the Village should be a favorable sign for us, but like most things these days, time will tell.
Feel free to reach out to me at [email protected] if I can answer any questions for you. For disclosure purposes, I am a Realtor®, and the numbers reported here come directly from the MLS.