Indicators Point to Busiest Spring since 2006
The numbers are in for the January of 2016 for residential real estate sales in Garland County, Arkansas. The residential real estate market is following a typical January pattern, with cooler demand, reduced inventory and slower market velocity than during warmer months. However, according to Jonathan Smoke, chief economist of realtor.com, “All indicators point to this spring being the busiest since 2006. The decline in the stock market so far seems to be a net positive for real estate demand.” Below is an overview of this year’s sales compared to this same time period year-over-year. Average Days on Market 1/1/15 – 1/31/15: 180 1/1/16 – 1/31/16: 186 Number of Listings Sold 1/1/15 – 1/31/15: 84 1/1/16 – 1/31/16: 70 Average Price of Sold Listings 1/1/15 – 1/31/15: $126,671 1/1/16 – 1/31/16: $159,641 MLS Sold Volume 1/1/15 – 1/31/15: $10,640,446 1/1/16 – 1/31/16: $11,174,870 (data obtained from the Hot Springs Board of Realtors ml