Arkansas

Northwest Arkansas home sales down double digits in 2023 – Talk Business & Politics

Published

10 months ago

January 29, 2024

Northwest Arkansas home sales down double digits in 2023 – Talk Business & Politics

For the second consecutive year, residential home sales declined by double digits in Northwest Arkansas’ two largest counties.

Real estate agents combined to sell 9,802 residential properties in the two-county area last year. That’s according to data from the Matrix software platform the Northwest Arkansas Board of Realtors (NABOR) uses and provided to the Northwest Arkansas Business Journal by Marcus Necessary, vice president and executive broker with Weichert, Realtors-The Griffin Co.

According to the data, those figures represent a 10.3% decrease from 10,923 home sales in 2022. The year-over-year decrease was 11.6% last year, from 12,349 home sales in 2021.

“Interest rates certainly played a part in slowing down our market,” said Sherry Laemmle,” vice president and general manager of the Northwest Arkansas region for Tennessee-based Crye-Leike Real Estate Services. “Also, so many homeowners refinanced at the lower rates and are hesitant to give that up.”

According to historical figures previously reported by the Northwest Arkansas Business Journal, unit sales were up 2.4% in 2021, 12.8% in 2020 and 6.3% in 2019. That followed annual gains of 1.3% in 2018, 7.7% in 2017 and 9.1% in 2016.

Home sale values also declined in 2023, from $4.24 billion to $4.02 billion, a dip of 5.2%.

Those numbers produced an average home sale price of $410,807 last year, up 5.6% from $388,860 in 2022.

Benton County residential properties in 2023 had a sales volume of $2.66 billion, down 5.3% from 2022. Unit sales were down 10% to 6,326. The average selling price of a home in Benton County was $421,144, up 5.2% from the previous year.

In Washington County, total sales volume declined 4.89% to $1.36 billion last year, while unit sales were down 10.5% — 3,887 to 3,476. The average selling price of a home in Washington County was $391,994, up 5.6% from the previous year.

According to the National Association of Realtors, U.S. home sales dropped 19% last year to 4.09 million, the lowest level since 1995.

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Arkansas

Homicide suspect causes barricade situation in east Arkansas jail

Published

4 mins ago

November 27, 2024

Press Room

Homicide suspect causes barricade situation in east Arkansas jail

PHILLIPS COUNTY, Ark. — A suspect in a Helena-West Helena homicide caused a barricade situation Tuesday as he was being processed in the Phillips County Detention Center.

Authorities said a prisoner who was being processed at the jail was able to get hold of some type of instrument and cause harm to himself.

He barricaded himself in the processing area and pepper spray was used to subdue him.

The prisoner was taken to the local emergency room for treatment. No one else was injured.

Helena-West Helena Police Chief Vincent Bell said he doesn’t know much more about what happened at the jail, but said the inmate is connected to a fatal shooting Tuesday afternoon.

The suspect was being held in connection to an incident where a man was shot dead in the doorway of O’Reilly Auto Parts in West Helena.

The shooting was the result of a disagreement that started in front of a motel, and the victim ran to the front of O’Reilly’s where he was fatally shot.

Chief Bell offered no details on a motive or the name of the victim.

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Arkansas

VIDEO: Arkansas players press conference – Missouri week

Published

8 hours ago

November 26, 2024

Press Room

VIDEO: Arkansas players press conference – Missouri week

Arkansas QB Taylen Green, OL Addison Nichols, DT Cam Ball and DB Doneiko Slaughter, preview press conference ahead of Saturday’s matchup against the No. 24 Missouri Tigers at Memorial Stadium in Columbia, Missouri.

Kickoff is set for 2:30 p.m. CT and the game will air on SEC Network. Check out our homepage for more coverage of the Hogs.

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Arkansas

Hoop Hogs analytics update – 11/26

Published

16 hours ago

November 26, 2024

Press Room

The No. 19 Arkansas Razorbacks are currently 5-1 on the young season after a 109-35 win over Marland-Eastern Shore on Monday night.

According to KenPom, Arkansas jumped from 40th to 38th following the victory over the Hawks. The Razorbacks efficient defensive night pushed them to sixth in defensive efficiency, up four spots from 10th.

“Defensively, we’re one of the best teams in the country and we want to continue to hand our hats on how we are defensively,” Arkansas associate head coach Chin Coleman said postgame. “And a lot of stuff that we do defensively, it doesn’t matter who we play, because it’s our scheme. It’s our schematics and it works. As long as we’re in the right spots and we’re doing what we teach, it’ll work against anyone.”

The Razorbacks eclipsed the 100-point mark, shot 55.6% from the field and hit three-pointers at a 44.1% clip. As a result, Arkansas’ offensive metrics received a major boost.

Freshman guard Boogie Fland was awarded team MVP from KenPom after the game. He had an offensive rating of 194.0 and scored 16 points on 3-of-5 shooting which included two makes from deep.

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