Home Sales are on the Rise in Hot Springs, AR

The numbers are in for the year of 2015 for residential real estate sales in Garland County, Arkansas.  The home sales volume is up 6% over last year with the number of homes sold up 2% year-over-year.
2015 was a good year for the luxury market with a total of 10 homes sold over a million dollars.  The most expensive home sold had 9,875 square feet and sold for $1.6 million by our office.  Ironically, the most expensive home sold the year before also sold for $1.6 million by our office (by us).  There were a total of only 3 homes sold over a million in 2014.
Below is an overview of this year’s sales as of last month:
Average Days on Market
1/1/14 – 12/31/14:  165
1/1/15 – 12/31/15:  170            
Number of Listings Sold
1/1/14 – 12/31/14:  1303
1/1/15 – 12/31/15:  1332                      
Average Price of Sold Listings
1/1/14 – 12/31/14:  $160,869
1/1/15 – 12/31/15:  $167,892
MLS Sold Volume
1/1/14 – 12/31/14:  $209,612,670
1/1/15 – 12/31/15:  $223,632,677
(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 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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