It's Going to Be a Great Year for Hot Springs!

HAPPY, HAPPY New Year!  It’s always fun to kick off a new year with a fresh outlook filled with new goals, big plans, and high expectations! One of my favorite sayings that a new year brings to mind is “Shoot for the moon so that even if you miss, you'll still land among the stars”.
We are really excited about the plans for the future in Hot Springs in 2019.  Hot Springs has frequently been making headlines throughout the country and even the world.  Hot Springs was recently named by the Travel Channel as one of the “Must-Visit Geothermal Baths Around the World”. Then Trip Savvy included Hot Springs in their list of “The 20 Best Hot Springs Destinations in the World”.  Discover Arkansas featured a cool story about the iconic Arlington Hotel as it’s “considered one of the grandest hotels in the state” and filled with rich history.  And of course the Arkansas Business Journal is always taking note of all of the new growth going on in town, and featured the story – “Clarion Resort Hotel Set for $20M Renovation, DoubleTree Rebranding”.  This is just a tad of the latest news going on in and around the spa city, and it’s all great for the real estate market.

While you may hear talk about the housing market showing signs of a slowdown across the country - that doesn’t seem to be the case for Hot Springs at this point.  The overall residential sales volume for 2018 was up 15% over the prior year, and inventory is currently at a record low. It’s the first time in five years to drop below 700 in homes on the market in Garland County. 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 – 12/31/17:  168
1/1/18 – 12/31/18:  147           
Number of Listings Sold
1/1/17 – 12/31/17:  1,564
1/1/18 – 12/31/18:  1,744               
Average Price of Sold Listings
1/1/17 – 12/31/17:  $178,802
1/1/18 – 12/31/18:  $185,550

MLS Sold Volume
1/1/17 – 12/31/17:  $279,646,560
1/1/18 – 12/31/18:  $323,415,219
(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 there’s anything we can help you with, please give us a call today at (501) 655-6247. It is always our pleasure to serve you. We wish you a fantastic and prosperous new year and we look forward to hearing from you!
Warm regards,
Jeff and Paulia Kennedy, Realtors
Hot Springs 1stChoice Realty
(501) 655-6247
Jeff@BestofHotSprings.com
p.s. We LOVE referrals! It's the highest compliment to receive, and we promise to offer the best service possible to you, your friends and family. 

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