Hot Springs Market Update


The numbers are in for May in residential real estate sales in Garland County, Arkansas.  Compared to the year before, residential sales are up 5% over the same period of last year, and up 12% over the previous month (4/2014). 
Below is an overview of sales for the first quarter:
Average Days on Market
1/1/13 – 5/31/13:  173
1/1/14 – 5/31/14:  169            
Number of Listings Sold
1/1/13 – 5/31/13:  454
1/1/14 – 5/31/14:  477                     
Average Price of Sold Listings
1/1/13 – 5/31/13:  $157,433
1/1/14 – 5/31/14:  $158,019
MLS Sold Volume
1/1/13 – 5/31/13:   $71,474,709
1/1/14 – 5/31/14:   $75,375,256
(data obtained from the Hot Springs Board of Realtors mls, and it does not include home sales by owner, or other sales not reported thru our local mls)
Click here to take a look at the next report that shows a more detailed overview of the current market in Garland County, AR. This report will give you a better look at the supply and demand of homes.
Instead of the expected rise in inventory, it actually dropped just a tad in May. Condo sales also doubled in May (22 units sold), which contributed to the 12% increase in sales this month.
If we can help more, please don’t hesitate to give us a call at 501.655.6247.  It is always our pleasure to serve you.
Warm regards,
Jeff and Paulia Kennedy

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