Resort and Vacation Home Market on the Rise in Hot Springs
The numbers are in for May for residential real estate sales in Garland County, Arkansas and the total sales volume is up 15% over this time last year. Can you guess which market segment spiked in May? While all other segments of the market have recovered over the past couple of years, the resort and vacation home market has been slow to recover. However, CONDO SALES almost tripled compared to the month before!! - YA YA!!! It’s so exciting to see this segment of the market picking up. There were 28 condo sales in May, which is more condo sales than there have been in one month in Hot Springs since the market crashed in 2007. Hot Springs is such a beautiful city, and it’s so exciting to see the growth and revitalization going on! 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 – 5/31/15: 191 1/1/16 – 5/31/16: 159 Number of Listings Sold 1/1/15 – 5/31/15: 507 1/1/16 – 5/31/16: 558