Hot Springs Market Update
Consumer confidence along with increased tourism continue to drive the “spa city’s” housing market upward. People haven’t been this optimistic about the housing market since 2005. Home sales continue to soar with a 12% increase in total sales volume year over year for the Hot Springs area. The hot segment for the month of May was the $150,000 - $300,000 range with 45% of home sales falling in this category. Below is an overview of this year’s residential sales in Garland County compared to this same time period year-over-year. Average Days on Market 1/1/17 – 5/31/17: 164 1/1/18 – 5/31/18: 229 Number of Listings Sold 1/1/17 – 5/31/17: 595 1/1/18 – 5/31/18: 664 Average Price of Sold Listings 1/1/17 – 5/31/17: $179,244 1/1/18 – 5/31/18: $180,413 MLS Sold Volume 1/1/17 – 5/31/17: $106,650,385 1/1/18 – 5/31/18: $120,277,184 (data obtained from the Hot Springs Board of Realtors mls, and it does not include home sales by owner, or other sales not rep