Housing Market Hits Record Low
The numbers are in for November in residential real estate sales in Garland County, Arkansas. Compared to the year before, the total residential sales volume is up 4% 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, and inventory is at a record low. The total number of homes on the market in Garland County dropped below 1000 for the first time since we’ve been keeping records. We’re optimistic that the supply and demand will continue to level and bring us a balanced market in the near future for buyers and sellers. Below is an overview of sales for this period: Average Days on Market 1/1/13 – 11/30/13: 172 1/1/14 – 11/30/14: 163 Number of Listings Sold 1/1/13 – 11/30/13: 1120 1/1/14 – 11/30/14: 1204 Average Price of Sold Listings 1/1/13 – 11/30/13: $167,688 1/1/14 – 11/30/14: $162,499 MLS So