By Amy Widner
Pine Bluff Commercial

PINE BLUFF — Statewide October home sales showed some of the best gains in years, but federal tax credits, low interest rates and low prices did not lure Jefferson County buyers to market as they did elsewhere in the state.

“In terms of month-to-month sales, this is the best report we’ve released since the ‘boom days’ of 2005,” the Arkansas Realtors Association housing market report said.

State increase

Statewide, month-to-month sales increased 24 percent over October 2008 (from 2,332 to 1,879).

“This is only the third report out of the past 45 to reflect sales growth in month-to-month comparisons,” the release stats.

The increased sales were accompanied by sale prices about 3 percent lower for the month, 4 percent for the year to date.

Pulaski and Benton counties led the charge with 31 percent and 36 percent month-to-month home sales increases, respectively.

County numbers

Meanwhile, in Jefferson County, 36 homes were sold in October 2009, compared to 40 in October 2008. For the year to date, sales are 16 percent down: 320 so far in 2009 compared to 384 by the same time last year.

Arkansas Realtors Association spokesman Ethan Noble said statewide, it’s been a buyer’s market. Interest rates have been low all year (they hit a 38-year low Thursday, according to Freddie Mac’s weekly survey), and prices have been low to attract those first-time home buyers looking to cash in their federal tax credit on less expensive homes.

Again, Jefferson County broke with the statewide trend. The average price of a home sold in October 2009 was $101,300, compared to $83,181 in October 2008. For the year to date, average prices are $103,837 for 2009 and $93,897 for 2008