Skip to main content

"Boomerang Buyers" Create Upswing in Home Sales


The numbers are in for the first quarter for residential real estate market in Garland County, Arkansas. 

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
1/1/12 – 3/31/12:  183
1/1/13 – 3/31/13:  173            
Number of Listings Sold
1/1/12 – 3/31/12:  220
1/1/13 – 3/31/13:  213                      
Average Price of Sold Listings
1/1/12 – 3/31/12:  $138,153
1/1/13 – 3/31/13:  $147,352           
MLS Sold Volume
1/1/12 – 3/31/12:  $30,393,831
1/1/13 – 3/31/13:  $31,386,041          

 Click here for a more detailed report of the current market in Garland County, AR.  The numbers for our area are now showing signs of an upswing.  According to USA Today’s recent report – “Boomerang Buyers” may be a strong force behind the upswing in home sales in 2013. 

 “Boomerang Buyers” are people who lost homes in foreclosures and short sales in the historic housing bust who are striving to be homeowners again. Their time out of the market may be shorter than many Americans might expect. People who go through foreclosure can rebuild credit records and qualify for home loans again in three to seven years if they manage their finances well. With home prices still low and interest rates near record lows, today's boomerang buyers might even find their next mortgage more affordable than their last one.“  Click here to read the full article. 

 Let’s have a wonderful 2013!  If we can help more, please give us a call at 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