Garland County Sales up 16% with Land Sales Way UP!

The numbers are in for April for residential real estate sales in Garland County, Arkansas and it’s still looking GOOD!  The total sales volume is up 16% over this time last year with buyers focusing heavily on land investments (up 27% over last year).  While land sales are picking up, it appears that buyers may be parking their money and sitting tight for the time being.  Residential building permits issued this year are down 50% compared to this time last year. 
With new construction inventory down, interest rates low, and buyer confidence much improved, it appears that this may be a good time for some new residential neighborhoods.
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 – 4/30/15:  200
1/1/16 – 4/30/16:  162            
Number of Listings Sold
1/1/15 – 4/30/15:  390
1/1/16 – 4/30/16:  414                      
Average Price of Sold Listings
1/1/15 – 4/30/15:  $148,308
1/1/16 – 4/3016:  $165,604
MLS Sold Volume
1/1/15 – 4/30/15:  $57,840,480
1/1/16 – 4/30/16:  $68,560,407
(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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