Should you Buy or Sell in 2018?

Should you buy or sell real estate in Hot Springs in 2018? The real estate market in the Hot Springs area is very healthy. Home prices are appreciating and it’s a safe investment over the long term. The tax cuts should also help although the Fed is counteracting that growth with a questionable raising of interest rates which seems to have sparked the sudden stock market volatility. Although some disincentives are present for home buying in certain price ranges, that will help keep the market balanced for 2018.
Overall, predictions and outlook for the local housing market  are positive. That’s because the US economy is on its strongest roll in a while, bolstered by lower taxes, and growing American confidence. It’s very evident that the American dream has been kindled again when you drive through the thriving little “spa city”.
Below is an overview of this year’s sales compared to this same time period year-over-year.
Average Days on Market
1/1/17 – 2/28/17:  138
1/1/18 – 2/28/18:  137           
Number of Listings Sold
1/1/17 – 2/28/17:  190
1/1/18 – 2/28/18:  209           
Average Price of Sold Listings
1/1/17 – 2/28/17:  $163,980
1/1/18 – 2/28/18:  $158,767

MLS Sold Volume
1/1/17 – 2/28/17:  $31,156,268
1/1/18 – 2/28/18:  $33,182,386
(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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