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Mckay & Co. heads the list: Little Rock real estate firm tops Real Estate Central of North Little Rock as Pulaski County's first-quarter residential leader.

The residential real estate market in Pulaski County generated more than $59 million in single-family home sales during the first three months of 1992.

McKay & Co. of Little Rock edged out Real Estate Central of North Little Rock for the top spot in the first quarter. The two firms carved out respective market shares of 10.81 percent and 10.37 percent, according to Arkansas Business estimates.

Close behind were The Janet Jones Co. of Little Rock at 9.43 percent and Prudential McKay Properties of Little Rock and North Little Rock at 8.8 percent.

In the first quarter of 1991, Real Estate Central had a 12.6 percent share of the market, followed by The Janet Jones Co. at 11.94 percent, McKay & Co. at 11.12 percent and Coldwell Banker McKinney & Co. of Little Rock at 10.08 percent.

The market shares are based on sales spread over 18 zones in Pulaski County (known as "z areas" to real estate agents). Hundreds of individual transactions are recorded by Central Arkansas Regional Multiple Listing Services Inc. each quarter.

To generate market share estimates, the dollar values of sales were totaled for each company. The typical 60/40 commission split between the listing and buyer's agents was factored into each equation.

For example, "Co. A" lists a house that sells for $100,000, but the buyer is represented by "Co. B." In the Arkansas Business calculations, "Co. A" gets credit for $60,000, and "Co. B" gets credit for $40,000.

The market share figures don't reflect the companies that are making the most money or the firms that are managed best. What they indicate is the Pulaski County firms that are conducting the most business, using hundreds of home sales as the measuring stick.

The top players vary among the 18 zones in Pulaski County.

Z-1 (Little Rock, East), Z-2 (Little Rock, Downtown) and Z-4 (Little Rock, University of Arkansas at Little Rock)

The three zones are bound by a line running from the Arkansas River along Woodrow Street to Interstate 630 and then to University Avenue, Fourche Creek, Interstate 30, East Roosevelt Road/Fourche Dam Pike and the Arkansas River.

McKay & Co. led the way with 29.38 percent of $533,122 in home sales during the first quarter.

The combined average sales price in the three zones was $23,109. That compares with $46,556 in the first quarter of 1991.

Rounding out the top firms in terms of market share were Rainey Realty Inc. of Little Rock, 14.92 percent; Riverland Realtors of Maumelle, 14.41 percent; ERA Collins Realty Inc. of Little Rock, 12.38 percent; Trammell & Co. of Little Rock, 8.44 percent; Re/Max Affiliates Realty of Little Rock, 8.14 percent; Quapaw/Old House Realty of Little Rock, 3.94 percent; and others, 8.39 percent.

A year ago, Adkins McNeill Smith & Associates of Little Rock had an 11 percent share during the first quarter, the biggest slice of a $942,100 market.

Following AMS&A's performance were Prudential McKay Properties, 10.24 percent; ERA Collins Realty, 7.71 percent; Marratt & Associates of Little Rock, 6.95 percent; Trammell & Co., 6.26 percent; Market Place Real Estate Inc. of Little Rock, 6.05 percent; Real Estate Central/Ward Gibson of Little Rock, 5.84 percent; and others, 45.95 percent.

Z-3 (Heights/Hillcrest)

The zone is bound by the Arkansas River, a line following University Avenue south, Interstate 630 and a line following Woodrow Street north to the river.

The Janet Jones Co. had a 26.98 percent share of the $5 million market during the first quarter of 1992.

The average sales price of homes in the area was $96,000, compared with $82,477 during the first quarter of 1991.

Rounding out the top firms in Z-3 during the first quarter were Coldwell Banker McKinney & Co., 16.79 percent; McKay & Co., 13.82 percent; Rector Phillips Morse Inc. of Little Rock 10.83 percent; Marcelline Giroir Ltd. of Little Rock, 9.9 percent; Jess Askew & Co. of Little Rock, 3.33 percent; The Charlotte John Co. of Little Rock, 2.97 percent; and others, 15.38 percent.

The Janet Jones Co. was also the area leader during the first quarter of 1991 with a 25.43 percent share of a $6.2 million market.

Other area leaders a year ago were Coldwell Banker McKinney & Co., 21.19 percent; Marcelline Giroir Ltd., 9.29 percent; Rector Phillips Morse, 8.09 percent; McKay & Co., 5.67 percent; Adkins McNeill Smith & Associates, 5.31 percent; Valentine Hansen Realtors of Little Rock, 4.95 percent; and others, 20.07 percent.

Z-5 (West Little Rock, North)

The zone is bound by the Arkansas River, Interstate 430, Interstate 630 and University Avenue.

McKay & Co. held 20.66 percent of the second-largest market in Pulaski County. The zone produced sales of $8.29 million.

The sales price of homes averaged $107,072, compared with $90,246 during the first quarter of 1991.

Other leaders were The Janet Jones Co., 17.61 percent; Rector Phillips Morse, 9.88 percent; Marcelline Giroir Ltd., 9.55 percent; Prudential McKay Properties, 7.77 percent; The Charlotte John Co., 7.32 percent; Re/Max Affiliates Realty, 6.43 percent; and others, 20.78 percent.

McKay & Co. was also the leader a year ago with a 16.21 percent share of a $6.1 million market.

Following it were Rector Phillips Morse, 15.43 percent; The Janet Jones Co., 15.37 percent; Adkins McNeill Smith & Associates, 10.03 percent; Coldwell Banker McKinney & Co., 9.7 percent; Re/Max Affiliates Realty, 9.44 percent; Prudential McKay Properties, 5.31 percent; and others, 18.51 percent.

Z-6 (West Little Rock, Central)

This zone is bound by Interstate 630, Interstate 430, Old Stagecoach Road/Asher Avenue and University Avenue.

Re/Max Affiliates Realty had a 29.05 percent share of this $638,600 market during the first three months of the year.

The sales price of area homes during the first quarter averaged $44,930, compared with $44,622 a year ago.

Following Re/Max were McDaniel Realty of Little Rock, 16.36 percent; Rainey Realty, 13.49 percent; Century 21 Steve Pinter Realty of Little Rock, 10.05 percent; Riverland Realtors, 7.81 percent; ERA Collins Realty, 7.05 percent; Access Realty of Little Rock, 6.7 percent; and others, 9.49 percent.

Last year, Linkous Co. of Little Rock had the largest share of a $1 million market with 21.8 percent.

Other leaders during the first quarter of 1991 were Trammell & Co., 12.75 percent; Re/Max Affiliates Realty, 12.58 percent; Rainey Realty, 6.68 percent; the Willis Group Inc. of Little Rock, 5.49 percent; Coldwell Banker McKinney & Co., 5.12 percent; Rector Phillips Morse, 4.94 percent; and others, 30.64 percent.

Z-8 (Southwest Little Rock, Central)

The zone is bound by Old Stagecoach Road/Asher Avenue, Baseline Road and Fourche Creek.

McDaniel Realty with a 14.44 percent share was the leading player in an $843,454 market in the first quarter.

The average sales price was $36,757, compared with $39,944 during the first quarter of 1991.

Other leading firms in this zone were Re/Max Affiliates Realty, 13.75 percent; Century 21 Steve Pinter Realty, 12.63 percent; Adkins McNeill Smith & Associates, 9.27 percent; McKay & Co., 7.21 percent; Joint Venture Real Estate Inc. of Little Rock, 5.75 percent; Century 21 Maumelle Inc. 5.4 percent; and others, 31.55 percent.

McDaniel Realty held an even more commanding position a year ago with 21 percent of a $1.1 million market in the first quarter.

Other area leaders were McKay & Co., 11.56 percent; Century 21 Steve Pinter Realty, 10.88 percent; Adkins McNeill Smith & Associates, 9.39 percent; Rainey Realty, 8.53 percent; Joint Venture Real Estate, 8.53 percent; Trammell & Co., 5.29 percent; and others, 24.82 percent.

Z-9 (Southwest Little Rock, South)

The zone is bound by Baseline Road, Old Stagecoach Road, the Pulaski County/Saline County line, Kling and Atwood roads and Arch Street Pike.

McDaniel Realty was the biggest player in this adjoining zone with 24.44 percent of a $1.43 million market.

The average home price was $44,060, compared with $49,128 during the first quarter of 1991.

Other firms with a major presence were Century 21 Steve Pinter Realty, 13.74 percent; Re/Max Affiliates Realty, 9.27 percent; Century 21 Pro Realty of Little Rock, 9.17 percent; Real Estate Central of Little Rock, 6.43 percent; Joint Venture Real Estate, 5.98 percent; Adkins McNeill Smith & Associates, 5.94 percent; and others, 25.03 percent.

McDaniel Realty had the largest share of a $1.7 million market with 34.21 percent in the first quarter a year ago.

Other leading firms during the first quarter of 1991 were Trammell & Co., 15.1 percent; Rainey Realty, 11.08 percent; Real Estate Central of Little Rock, 6.47 percent; Joint Venture Real Estate, 6.41 percent; Re/Max Affiliates Realty, 5.55 percent; Market Place Real Estate, 4.63 percent; and others, 16.55 percent.

Z-10 (North Little Rock, West/Crystal Hill)

The zone runs from north of the Arkansas River to west of 33rd Street/Ridge Fall Road, the Union Pacific Railroad Co. tracks and Camp Robinson to the Pulaski County line, excluding Maumelle.

Real Estate Central of North Little Rock, with a 24.21 percent share, was the dominant firm in this $1.48 million market.

The average sales price of homes during the first quarter of 1992 was $49,714, compared with $53,122 a year ago.

Other January-March leaders were Prudential McKay Properties, 14.13 percent; Sherwood Realty, 13.35 percent; Riverland Realtors, 12.53 percent; Georgia Hollowell & Associates Inc. of North Little Rock, 9.28 percent; Coldwell Banker Wilkes Coney & Colclasure Realtors of Maumelle, 6.81 percent; Quality Real Estate Services Inc. of Jacksonville, 5.46 percent; and others, 14.23 percent.

Real Estate Central of North Little Rock also held the top position a year ago with a 24.06 percent share of a $1.8 million market.

The firm was trailed by Prudential McKay Properties, 23.01 percent; Rainey Realty, 10.91 percent; McKay & Co., 10.72 percent; Georgia Hollowell & Associates, 9.3 percent; Brass Bell Realty Inc. of North Little Rock, 9.02 percent; Sherwood Realty, 4.03 percent; and others, 8.95 percent.

Z-12 (North Little Rock, Downtown/East)

The zone is south of Burns Park/Interstate 40 and east of U.S. 67-167 within the city of North Little Rock.

Real Estate Central of North Little Rock was the powerhouse in the $593,667 market with 42.09 percent of the dollar volume.

The average sales price of homes was $30,931, compared with $30,476 during the first quarter of 1991.

Other leading firms were Brass Bell Realty, 15.75 percent; Century 21 Pro Realty, 7.17 percent; Riverland Realtors, 6.75 percent; Century 21 Best American Realty Inc. of Sherwood, 5.95 percent; Prudential McKay Properties, 5.22 percent; Georgia Hollowell & Associates, 4.3 percent; and others, 12.77 percent.

Real Estate Central of North Little Rock, with 26.37 percent of a $500,000 market, was the area leader in 1991's first quarter.

Other leading performers were Georgia Hollowell & Associates, 13.81 percent; Prudential McKay Properties, 10.66 percent; Brass Bell Realty, 9.57 percent; Bart Gray Realty of Jacksonville, 7.23 percent; McKay & Co., 6.28 percent; Sherwood Realty, 5.64 percent; and others, 20.44 percent.

Z-17 (West Pulaski County)

The zone is south of the Arkansas River and west of the Little Rock city limits within Pulaski County.

Prudential McKay Properties had a 21 percent share of a $1.53 million market during 1992's first quarter.

The sales price of homes in the area averaged $107,848 in the first three months of the year, compared with an average of $106,080 in the first quarter of 1991.

Other leading firms in the zone were The Janet Jones Co., 19.45 percent; McKay & Co., 17.54 percent; The Charlotte John Co., 8.77 percent; Rector Phillips Morse, 7.34 percent; Century 21 Steve Pinter Realty, 5.91 percent; Rainey Realty, 4.91 percent; and others, 15.08 percent.

Rector Phillips Morse was the leading firm a year ago with 39.07 percent of a $1.5 million market.

Trailing it were McKay & Co., 25.52 percent; Rainey Realty, 11.36 percent; Riverland Realtors, 5.96 percent; The Janet Jones Co., 5.72 percent; Century 21 Steve Pinter Realty, 5.67 percent; Real Estate Central of North Little Rock, 3.4 percent, and others, 3.3 percent.

Z-21 (Maumelle)

Century 21 Maumelle Inc. captured 15.92 percent of a $2.9 million market during the first three months of 1992.

The average sales price was $86,524, compared with $95,220 a year ago.

Other leading firms at Maumelle were Watkins Realty & Auctions Inc. of Maumelle, 14.4 percent; Re/Max Affiliates Realty, 13.56 percent; Coldwell Banker Wilkes Coney & Colclasure Realtors, 12.97 percent; Lynda Bowers & Associates Realtors of Maumelle, 7.88 percent; Prudential McKay Properties, 7.76 percent; McKay & Co., 7 percent; and others, 20.51 percent.

During the first quarter of 1991, Coldwell Banker Wilkes Coney & Colclasure Banker Wilkes Coney & Colclasure Realty had 23.12 percent of a $3.9 million market.

It was followed by Century 21 Maumelle Inc., 14.52 percent; Lynda Bowers & Associates Realtors, 13.87 percent; Watkins Realty & Auctions, 11.07 percent; Coldwell Banker McKinney & Co., 7.79 percent; Real Estate Central of North Little Rock, 6.32 percent; Real Estate Central/Ward Gibson, 3.83 percent; and others, 19.48 percent.

Z-25 (Otter Creek)

The zone is bound by Baseline Road, the Pulaski County/Saline County line and Old Stagecoach Road.

Century 21 Reddick Co. of Little Rock held the top spot in this zone with 21.59 percent of an $825,200 market.

The average sales price of homes in Otter Creek was $78,127 in the first three months of this year, compared with $83,786 in the first quarter of 1991.

Other firms active in this area were McKay & Co., 20.76 percent; Century 21 Steve Pinter Realty, 20.06 percent; Bob Rosen Realty Co. of Little Rock, 9.42 percent; The T.L. Elliott Co. of Bryant, 6.33 percent; Clint Boshears Realty Co. of Little Rock, 6.22 percent; Coldwell Banker McKinney & Co., 4.07 percent; and others, 11.55 percent.

Century 21 Reddick Co. was the leading company in Otter Creek in the first quarter of last year with 29.05 percent of an $864,000 market.

The field was rounded out by Century 21 Steve Pinter Realty, 15.46 percent; McKay & Co., 10.65 percent; Real Estate Central/Ward Gibson, 10.11 percent; Riverland Realtors, 6.32 percent; Coldwell Banker McKinney & Co., 5.97 percent; Prudential McKay Properties, 4.03 percent; and others, 18.41 percent.

Z-28 (North Pulaski County) and Z-24 (Other Areas North of the Arkansas River)

The zones include all areas of the county north of the Arkansas River and east of Camp Robinson that aren't in North Little Rock, Sherwood or Jacksonville.

Real Estate Central of North Little Rock had 20.71 percent of a $2.29 million market.

The average sales price of homes in these zones was $51,224 during the first quarter of 1992, compared with $76,864 a year ago.

Following Real Estate Central were Sherwood Realty, 18.4 percent; Bart Gray Realty, 11.71 percent; Doug Wilkinson Realty Co. of Jacksonville, 8.28 percent; Brass Bell Realty, 7.08 percent; Jim Peacock Real Estate of Jacksonville, 6.2 percent; Real Estate Central of Jacksonville, 5.57 percent; and others, 22.05 percent.

Bart Gray Realty, with 26.82 percent of a $1 million market, was the top firm during the first quarter of 1991.

It was followed by Rector Phillips Morse, 15.72 percent; Brass Bell Realty, 11.58 percent; Real Estate Central of North Little Rock, 10.88 percent; Doug Wilkinson Realty Co., 7.16 percent; Sherwood Realty, 5.57 percent; Georgia Hollowell & Associates, 4.88 percent; and others, 17.39 percent.
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Article Details
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Title Annotation:Residential Real Estate
Author:Waldon, George
Publication:Arkansas Business
Article Type:Industry Overview
Date:Jun 15, 1992
Words:2719
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