Hot Springs Market Update
It keeps getting Better and Better in Hot Springs! According to the Hot Springs Realtors Association data for August, the overall residential sales volume for the year is up 22% over last year, and the housing inventory is down 12% compared to this same time period last year. Apparently the secret is out. Vacationers love Hot Springs! Increased sales are significantly related to the rise in the resort & vacation home market. Lakefront home sales are up 36% over last year. 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 – 8/31/17: 170 1/1/18 – 8/31/18: 187 Number of Listings Sold 1/1/17 – 8/31/17: 1,050 1/1/18 – 8/31/18: 1,217 Average Price of Sold Listings 1/1/17 – 8/31/17: $181,648 1/1/18 – 8/31/18: $192,224 MLS Sold Volume 1/1/17 – 8/31/17: $190,730,728 1/1/18 – 8/31/18: $233,745,315 (data obtained from the Hot Springs Board