Homes Sales up 8 Percent in Garland County
The numbers are in for November for residential real estate sales in Garland County, Arkansas. The home sales volume is up 8% over last year with the number of homes sold up 2% year-over-year. Listing inventory trended down 1% over October, which is a normal seasonal pattern as we enter Christmas mode. The national median age of inventory is at 84 days according to the Chief Economist with Realtor.com, while our market is a little more than double that at 173 days. It’s unrealistic to expect our market to match the national average since a large percentage of our market is resort homeowners and retirees. Yet we are pleased to see a recent uptick in buyers snatching homes a little more quickly as homes hit the market, and we’re even seeing a few multiple offers on a well-priced home as it hits the market. The average home sales price is at $171,136, which signified a 5% increase year-over year. This is largely due to the uptick in luxury home sales this year. Below is an over