Luxury Home Sales Up 24%

The numbers are in for the third quarter in residential real estate sales in Garland County, Arkansas.  Compared to the year before, the total residential sales volume is up 5% over the same period of last year. 
As we review the market closely every month, we’re pleased to report that our market has continued to make slow and steady progress month after month this year with the luxury market still on the rise. Home sales over $500,000 are up 24% this year with a total of 41 sales over $500,000 in Garland County with three sales over a million.  The largest sale so far this year was $1,600,000 by Jeff Kennedy. Last year during this same period - there were only 33 home sales over $500,000 with one sale over a million. 
Below is an overview of sales for this period:
Average Days on Market
1/1/13 – 9/30/13:  173
1/1/14 – 9/30/14:  162 
Number of Listings Sold
1/1/13 – 9/30/13:  949
1/1/14 – 9/30/14: 1015                     
Average Price of Sold Listings
1/1/13 – 9/30/13:  $168,155
1/1/14 – 9/30/14:  $166,591
MLS Sold Volume
1/1/13 – 9/30/13:   $159,579,443
1/1/14 – 9/30/14:   $169,089,975
(data obtained from the Hot Springs Board of Realtors mls.  This report includes ALL residential sales in Garland County sold by a licensed real estate agent who is a member of the Hot Springs Board of Realtors mls - including land, condos, mobile homes, single family homes and other properties categorized as residential)
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.
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,
Paulia

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