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 Sold Volume
1/1/13 – 11/30/13:   $187,810,666
1/1/14 – 11/30/14:   $195,648,983
(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,

Jeff and Paulia Kennedy

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