Hot Springs Market Update
The numbers are in for the first quarter for residential real estate sales in Garland County, Arkansas. Compared to this same time last year, the number of home sales are up 3% with the total sales volume down slightly due to the luxury home market lagging. Inventory rose slightly in March yet the total number of homes on the market is still hovering at record lows for this time of year (less than 1000 homes currently on the market). Below is an overview of sales for the first quarter: Average Days on Market 1/1/14 – 3/31/14: 166 1/1/15 – 3/31/15: 200 Number of Listings Sold 1/1/14 – 3/31/14: 266 1/1/15 – 3/31/15: 276 Average Price of Sold Listings 1/1/14 – 3/31/14: $157,541 1/1/15 – 3/31/15: $147,694 MLS Sold Volume 1/1/14 – 3/31/14: $41,906,154 1/1/15 – 3/31/15: $40,763,796 (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) Cli