Fort Smith serious estate in high desire even amid COVID pandemic

A home under construction in Lakeside Crossing at Chaffee Crossing is posted with a "sold" sign. Realtors in Fort Smith say the housing market is low on supply and high on demand, pushing prices above the listing price while construction costs increase for new homes.

The COVID pandemic is just 1 issue messing with Fort Smith’s housing industry.

Design value will increase for new homes, coupled with an influx of out-of-point out consumers have additional to the outcomes of the COVID pandemic to create even a lot more desire for most houses in Fort Smith.

“Houses below have been selling over list costs,” said Rachel Cannava-Brown, principal broker for Bradford & Udouj Realtors in Fort Smith. “I’ve been in the company for 23 a long time and I have never ever observed it like it is now.”

Even prior to the pandemic, Cannava-Brown mentioned folks in Fort Smith ended up not actually moving considerably for the reason that of increasing development price ranges. But over the previous yr, the market has become even tighter for residences underneath $300,000.

“There is just not ample,” Cannava-Brown said. “I come to feel like just about anything you put on the sector beneath $500,000 … it can be just a feeding frenzy … If another person experienced an inkling to shift and hire, they could make a ton of dollars on their house. Residences are advertising more than their record selling price. It truly is a seller’s sector.”