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 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 home sales 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
Hot Springs 1st Choice Realty
(501) 655-6247
Jeff@BestofHotSprings.com

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