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 Listings
1/1/14 – 1/31/14:  $175,159
1/1/15 – 1/31/15:  $128,585
MLS Sold Volume
1/1/14 – 1/31/14:  $14,713,374
1/1/15 – 1/31/15:  $10,415,446
(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.
We love Hot Springs and we’re doing our best to help our community gain recognition as the best place to live!  Another statistic that we are pleased to report for 2014 is our sales history. Did you know that we sold more listings in Hot Springs last year than any other real estate agent/team? We don’t call it a job when you love what you do!  Thank you so much for trusting us to handle your real estate transactions, and thank you for your referrals!
If we can ever 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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