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)
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 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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