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Quarterly leader repeats.

Rector Phillips Morse Inc. Tops the Chart in a $77 Million Residential Market

RESIDENTIAL HOME sales in Pulaski County generated more than $77 million during the third quarter, and a reshuffled deck of market leaders.

However, the top spot remained the same as Rector Phillips Morse Inc. of Little Rock repeated as the quarterly market share leader.

RPM hung on despite slipping from 11.52 percent to 10.55 percent overall amid a tightening field of competition.

Real Estate Central of North Little Rock, always the dominant player north of the Arkansas River, climbed back into the second spot with 9.98 percent after slipping to fourth last quarter.

The biggest jumper was Prudential McKay Properties of Little Rock, which went from sixth to third place for the quarter.

The 9.76 market share performance likely reflects the acquisition of Riverland of Maumelle and the dividends of wooing Carolyn Ward and a flock of sales staff from the Little Rock of Real Estate Central.

McKay & Co. of Little Rock turned in a strong 9.52 percent share. But in a tightening field, that was only good enough for the No. 4 slot for the quarter.

The same goes for Janet Jones Co. of Little Rock, which slipped from third to fifth with a 9.12 percent share. Rounding out the big seven were familiar faces Coldwell Banker McKinney & Co. of Little Rock, with 7.83 percent; and Re/Max Affiliates Realty of Little Rock, with 4.42 percent.

The market shares are composed of sales spread over 20 zones in the county (known as Z areas to Realtors) and hundreds of individual transactions recorded by Central Arkansas Regional Multiple Listing Services Quarterly reports.

To generate market share estimates, the dollar value of each sale within these areas was totaled for each company. The typical 60-40 commission split between listing and buyer's agents was also factored into the equation.

Example: Co. A lists a house that sells for $100,000, but the buyer is represented by Co. B. In our calculations, Co. A gets credit for $60,000 and Co. B gets credit for $40,000.

Our figures don't reflect which companies are making the most money or which firms are the best managed.

However, our numbers do indicate which shops are conducting the most business, using the dollars and cents of hundreds of home sales as the measuring stick.

The top players vary among the 20 different zones in the county. Three are featured in separate pie charts.

Z-7 (West Little Rock, Northwest)

The zone is bound by the Arkansas River, Interstate 430, Old Stage Coach Road and the western city limits of Little Rock.

Rector Phillips Morse was the powerhouse in the $25.93 million market with 20.34 percent of the dollar volume.

Other leading performers were McKay & Co., 15.23 percent; Coldwell Banker McKinney & Co., 13.78 percent; Janet Jones Co, 9.66 percent; Prudential McKay Properties, 9.52 percent; Re/Max Affiliates, 6.47 percent; Rainey Realty of Little Rock, 5.74 percent; and others, 19.26 percent.

Z-5 (West Little Rock, North)

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

Janet Jones Co. had a 21.38 percent share of a $9.07 million market during 1992's third quarter.

Rounding out the top firms in terms of market share were Rector Phillips Morse, 18.71 percent; McKay & Co., 12.88 percent; Prudential McKay Properties, 10.89 percent; Coldwell Banker McKinney & Co., 8.63 percent; The Charlotte John Co. of Little Rock, 4.88 percent; Rainey Realty, 2.94 percent; and others, 19.69 percent.

Z-11 (North Little Rock, Central)

Real Estate Central of North Little Rock captured 48.16 percent of a $7.42 million market during the third three months of 1992.

Other firms active in this area were Prudential McKay Properties, 19.41 percent; Hollowell & Associates of North Little Rock, 10.05 percent; Sherwood Realty of North Little Rock, 4.76 percent; McKay & Co., 4.54 percent; Brass Bell Realty of North Little Rock, 3.53 percent; Coldwell Banker Wilkes Coney & Colclasure of Maumelle, 2.39 percent; and others, 7.16 percent.

Z-27 (Sherwood)

Real Estate Central of North Little Rock, with a 40 percent share, was the leading player in a $6.26 million market in the third quarter.

Following Real Estate Central were Prudential McKay Properties, 11.25 percent; Sherwood Realty, 10.7 percent; Hollowell & Associates, 10.61 percent; Coldwell Banker Wilkes Coney & Colclasure, 3.89 percent; Re/Max Affiliates Realty, 3.63 percent; Bart Gray Realty of Jacksonville, 2.71 percent; and others, 17.21 percent.

Z-21 (Maumelle)

Coldwell Banker Wilkes Coney & Colclasure held the top spot in this zone with 23.18 percent of a $5.11 million market.

Other leading firms were Prudential McKay Properties, 16.54 percent; Watkins Realty & Auctions Inc. of Maumelle, 15.18 percent; Century 21 Maumelle Co., 10.31 percent; Lynda Bowers & Associates of Maumelle, 9.83 percent; Re/Max Affiliates Realty, 6.39 percent; Rectors Phillips Morse, 5.09 percent; Real Estate Central of Little Rock, 2.78 percent; and others, 10.7 percent.

Z-13 (Jacksonville)

Bart Gray Realty had 22.83 percent of this $4.63 million market.

Other firms with a major presence were Real Estate Central of Jacksonville, 17.6 percent; Century 21 Smith & Associates of Jacksonville, 15.43 percent; Doug Wilkerson Realty Co., of Jacksonville, 11.51 percent; Jim Peacock Real Estate of Jacksonville, 8.73 percent; Quality Real Estate of Jacksonville, 8.24 percent; Plantation Realty of Jacksonville, 6.11 percent; and others, 9.55 percent.

Z-8 (Southwest Little Rock, Central)

This zone is bound by Old Stage Coach Road/Asher Avenue, Base Line Road and Fourche Creek.

Century 21 Steve Pinter Real Estate of Little Rock had the largest share of a $1.78 million market with 21.21 percent in the third quarter this year.

Other leading firms in the zone were McDaniel Realty of Little Rock, 18.76 percent; McKay & Co., 9.84 percent; Adkins McNeill Smith & Associates of Little Rock, 4.9 percent; Coldwell Banker McKinney & Co., 4.22 percent; Rainey Realty, 4.09 percent; Century 21 Pro Realty of Little Rock, 4.04 percent; and other, 32.94 percent.

Z-17 (West Pulaski County)

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

McKay & Co., with 36.62 percent of a $1.72 million market, was the area leader in 1992's third quarter.

Other July-September leaders were Janet Jones Co., 24.24 percent; Coldwell Banker McKinney & Co., 11 percent; The Charlotte John Co., 9.6 percent; Rector Phillips Morse, 7 percent; Prudential McKay Properties, 4.45 percent; Executive Realty of Little Rock, 3.75 percent; and others, 3.34 percent.

Z-22 (East Pulaski County), Z-28 (North Pulaski County) and Z-24 (Other North of the Arkansas River)

These 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 as well as south of East Roosevelt Road and east of U.S. 65-167.

Real Estate Central of North Little Rock was the biggest player in this zone with 27.46 percent of a $1.68 million market.

Other leading firms were Bart Gray Realty, 15.53 percent; Jim Peacock Real Estate, 9.37 percent; Century 21 Smith & Associates, 8.95 percent; Margaret Mantooth Real Estate of Jacksonville, 8.75 percent; Rector Phillips Morse, 6.89 percent; Sherwood Realty, 6.36 percent; and others, 16.69 percent.

Z-6 (West Little Rock, Central)

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

Rainey Realty nabbed 13.15 percent of this $1.43 million market during the third quarter.

Other firms active in the area were McKay & Co., 12.34 percent; Coldwell Banker McKinney & Co., 10.28 percent; Century 21 Steve Pinter Real Estate, 9.44 percent; Trammell & Co. Real Estate of Little Rock, 7.93 percent; ERA Collins Realty of Little Rock, 6.44 percent; Prudential McKay Properties, 6.35 percent; and other, 34.07 percent.

Z-25 (Otter Creek)

Century 21 Steve Pinter Real Estate, with a 34.06 percent share, was the dominant firm in this $1.25 million market.

The field was rounded out by Century 21 Reddick Co. of Little Rock, 18.52 percent; McKay & Co., 14.46 percent; Rector Phillips Morse, 8.84 percent; McDaniel Realty, 7.41 percent; Janet Jones Co., 5.3 percent; Re/Max Affiliates Realty, 4.17 percent; and others, 7.24 percent.

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

This zone lies 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 had a 54.51 percent share of this $517,775 market during the July-September reporting period.

Following Real Estate Central were Hollowell & Associates, 19.15 percent; Prudential McKay Properties, 12.55 percent; Brass Bell Realty, 6.18 percent; Access Realty of Little Rock, 3.46 percent; Market Place Real Estate of Little Rock, 3.09 percent; and McDaniel Realty, 1.06 percent.

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

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

Prudential McKay Properties led the way with 16.58 percent of $403,479 in home sales during the third quarter.

Other leading performers were Trammell & Co. Real Estate, 14.99 percent; Century 21 Steve Pinter Real Estate, 11.48; Coldwell Banker McKinney & Co., 11.03 percent; Real Estate Central of North Little Rock, 7.9 percent; Market Place Real Estate, 6.29 percent; Thomas Real Estate of Benton, 6.17 percent; and others, 25.56 percent.
Z-3 (Heights/Hillcrest)
This 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.
1. Janet Jones Co. 35.72%
2. Coldwell Banker McKinney & Co. 16.19%
3. Marcelline Giroir Ltd. 12.18%
4. Rector Phillips Morse 7.54%
5. McKay & Co. 6.68%
6. Adkins McNeill Smith & Associates 6.3%
7. The Charlotte John Co. 4.95%
8. Other 10.44%
Z-10 (North Little Rock, West/Crystal Hill)
This 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 Road to the Pulaski County line -- excluding
1. Real Estate Central (NLR) 27.38%
2. Prudential McKay Properties 23.68%
3. Brass Bell Realty 13.48%
4. Re/Max Affiliates Realty 9.71%
5. Holloway & Associates 4.99%
6. Coldwell Banker Wilkes Coney & Colclasure 4.44%
7. McKay & Co. 4.30%
8. Other 12.02%
Z-9 (Southwest Little Rock, South)
This zone is bound by Base Line Road, Old Stage Coach Road, the
Pulaski County/Saline County line, Kling and Atwood roads and
Arch Street Pike.
1. McDaniel Realty 36.86%
2. Rainey Realty 13.36%
3. Real Estate Central (LR) 10.75%
4. Joint Venture Real Estate 9.77%
5. Prudential McKay Properties 7.03%
6. Re/Max Affiliates Realty 5.99%
7. Century 21 Steve Pinter Real Estate 5.47%
8. Other 20.77%
COPYRIGHT 1992 Journal Publishing, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
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Title Annotation:biggest residential home sellers in Little Rock, Arkansas
Author:Waldon, George
Publication:Arkansas Business
Article Type:Industry Overview
Date:Dec 14, 1992
Previous Article:On the cutting edge.
Next Article:The key to quality.

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