Hot Springs Market Update
The numbers are in for the first month of 2015 for residential real estate sales in Garland County, Arkansas and sales are off to a slower start. Compared to the year before, residential sales are down over last January, however sales volume in January of last year started off with a real bang with a few big luxury home sales boosting the figures – so we don’t consider this a true picture yet, nor negative news. In fact, one segment of the market that looked interesting when we took a closer look was the condo market. Condo sales were up 70% with 17 condo sales this January, and the condo inventory is much lower than the average for last year. We’re hopeful that this may be the year for the condo market to make a good come back! Below is an overview of sales for January: Average Days on Market 1/1/14 – 1/31/14: 181 1/1/15 – 1/31/15: 177 Number of Listings Sold 1/1/14 – 1/31/14: 84 1/1/15 – 1/31/15: 81 Average Price of Sold Listi