This May be the Best Time to Sell in Hot Springs
The residential real estate market in the Hot Springs area continues to improve and could possibly be shifting to a “sellers’ market” in the near future. The housing inventory in the spa city has dropped another 4% since last month and the demand continues to increase. The number of homes purchased in October was up 6% over the month before, and we have a long list of buyers waiting for that “perfect” home to hit the market. We are pleased to report that the total residential sales volume is up 15% year-over-year for Garland County. 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 – 10/31/16: 160 1/1/17 – 10/31/17: 170 Number of Listings Sold 1/1/16 – 10/31/16: 1260 1/1/17 - 10/31/17: 1315 Average Price of Sold Listings 1/1/16 – 10/31/16: $164,741 1/1/17 – 10/31/17: $182,253 MLS Sold Volume 1/1/16 – 10/31/16: $207,574,734 1/1/17 – 10/31/17: $239,662,962 (data obtained