Hot Springs Market Update

The numbers are in for February of 2016 for residential real estate sales in Garland County, Arkansas.  While the sales volume looks like a mirror image of last year, it sure feels like we’re gearing up to have a great year!  In spite of the heavy rains this week, it hasn’t slowed our buyers down. The gas pump has been a frequent stop for us lately, and our passenger seat is staying warm with rotating buyers from all of the bordering states.  Inventory also remains lower than usual, and it’s a great time to sell.
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 – 2/28/15:  201
1/1/16 – 2/29/16:  162            
Number of Listings Sold
1/1/15 – 2/28/15:  177
1/1/16 – 2/29/16:  159                      
Average Price of Sold Listings
1/1/15 – 2/28/15:  $139,460
1/1/16 – 2/29/16:  $156,425
MLS Sold Volume
1/1/15 – 2/28/15:  $24,684,543
1/1/16 – 2/29/16:  $24,871,665
(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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