Hot Springs AR Market Update
The real estate market in the Hot Springs area continued to pick up steam during March. The market is up 20% over last year for the total sales volume, with the average sales price at $177,250. While Hot Springs is still a buyers’ market with the average days on market a little over six months, we are beginning to see some homes experience multi-offers when they hit the market staged and priced right. Below is an overview of this year’s sales compared to this same time period year-over-year. Average Days on Market 1/1/16 – 3/31/16: 148 1/1/17 – 3/31/17: 187 Number of Listings Sold 1/1/16 – 3/31/16: 306 1/1/17 – 3/31/17: 317 Average Price of Sold Listings 1/1/16 – 3/31/16: $152,934 1/1/17 – 3/31/17: $177,250 MLS Sold Volume 1/1/16 – 3/31/16: $46,797,958 1/1/17 – 3/31/17: $56,188,448 (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) Clic