Hot Springs Real Estate Market is on the Upswing


The numbers are in for last year for the residential real estate market in Garland County, Arkansas.  Overall, residential sales are up 2% over the 2011 market.

Below is an overview of our local market.   (This report was compiled from data obtained from the Hot Springs Board of Realtors mls, and does not include home sales by owner, or other sales not reported thru the local mls.)

Average Days on Market
1/1/11 – 12/31/11:  171
1/1/12 – 12/31/12:  191    
        
Number of Listings Sold
1/1/11 – 12/31/11:  1027
1/1/12 – 12/31/12:  1046    
                  
Average Price of Sold Listings
1/1/11 – 12/31/11:  $167,984
1/1/12 – 12/31/12:  $168,530   
        
MLS Sold Volume
1/1/11 – 12/31/11:  $172,520,472
1/1/12 – 12/31/12:  $176,283,390  
         
Click here for a more detailed report of the current market in Garland County, AR.  If you have been following our market reports, you may have noticed that the inventory of homes for sale is at record lows, with a total of only 1054 homes currently on the market.  Along with low inventory, interest rates are at historic lows, home prices are low, and consumer confidence is improving …. All of this together is creating the best opportunity for the real estate market, and we believe 2013 could be the best year in real estate in many years.   

Let’s get busy, and get things moving!  Give us a call if we can help more 501.655.6247.

Comments

Post a Comment

Popular posts from this blog

Hot Springs Market Update

It keeps getting Better and Better in Hot Springs!  According to the Hot Springs Realtors Association data for August, the overall residential sales volume for the year is up 22% over last year, and the housing inventory is down 12% compared to this same time period last year.  Apparently the secret is out. Vacationers love Hot Springs! Increased sales are significantly related to the rise in the resort & vacation home market. Lakefront home sales are up 36% over last year.   Below is an overview of this year’s residential sales in Garland County compared to this same time period year-over-year. Average Days on Market 1/1/17 – 8/31/17:  170 1/1/18 – 8/31/18:  187            Number of Listings Sold 1/1/17 – 8/31/17:  1,050 1/1/18 – 8/31/18:  1,217                  Average Price of Sold Listings 1/1/17 – 8/31/17:  $181,648 1/1/18 – 8/31/18:  $192,224 MLS Sold Volume 1/1/17 – 8/31/17:  $190,730,728 1/1/18 – 8/31/18:  $233,745,315 (data obtained from the Hot Springs Board
Read more

Real Estate Market may be Headed in a New Direction

As we review the first month of the new year in the real estate industry in the Hot Springs area, we are always eager to determine the direction of the real estate market for the year.  Wouldn’t it be nice if that crystal ball would tell us the exact time that’s best to buy and sell to get the most for your money?!  So far, the numbers are pretty close to this time last year, however just a tad bit less in total sales volume for residential sales (but not enough to talk about). With over 16 years in the real estate industry, we have experienced many shifts in the market, but this year is feeling a little different.  We have made a few predictions for the upcoming year and wanted to share our thoughts with you. This will be a year of more “multi-offers” on homes, so be sure to choose an experienced real estate agent with good negotiating skills to represent you. (Inventory is at a record low for our area, creating a scramble on good homes.) Vacation home sales will increase signif
Read more

the Future Looks Bright in Hot Springs

What a great year it’s been!  This time of year is always so special.  It’s a time of reflection, a time of gratitude, a time for new adventures & treasured traditions, and it’s a time of excitement for another new year ahead. Looking back, we’re happy to report that the real estate market in the Hot Springs area continues to be good, and the overall residential sales volume for the year is up 16% over last year. Below is an overview of this year’s residential sales in Garland County compared to this same time period year-over-year. Average Days on Market 1/1/17 – 10/31/17:  168 1/1/18 – 10/31/18:  149            Number of Listings Sold 1/1/17 – 10/31/17:  1,334 1/1/18 – 10/31/18:  1,505                Average Price of Sold Listings 1/1/17 – 10/31/17:  $181,172 1/1/18 – 10/31/18:  $187,518 MLS Sold Volume 1/1/17 – 10/31/17:  $241,684,392 1/1/18 – 10/31/18:  $282,027,270 (data obtained from the Hot Springs Board of Realtors mls, and it does not include home sales by owner
Read more