Hot Springs Skinny

With the election finally behind us, you’re probably wondering  What does President Trump mean for the real estate market?”  Will he use real estate to kickstart the economy? According to an article by Inman News this week, “Trump has used real estate himself as an investment, and although he hasn’t said much about his housing platform, what he has said indicates that he’s interested in boosting homeownership. Much of Trump’s platform has centered around deregulating the financial market in order to more fully revive it, and that alone could also give a boost to real estate.”  Click here  to read the full article.  It talks about 8 ways our new commander-in-chief could affect homeownership for the next four years. In our local market, residential sales are up 4% over last 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 1/1/15 – 10/31/15:  173 1/1/16 – 10/31/16:...

Conditions are better than ever in Hot Springs for buying and selling a home.   Inventory is down 6% over last year, bank rates are good, sales are up 9% over last year, and the weather is fantastic for buyers to shop.   Below is an overview of this year’s sales compared to this same time period year-over-year. Average Days on Market 1/1/15 – 9/30/15:  176 1/1/16 – 9/30/16:  155             Number of Listings Sold 1/1/15 – 9/30/15:  1020 1/1/16 – 9/30/16:  1128                        Average Price of Sold Listings 1/1/15 – 9/30/15:  $165,094 1/1/16 – 9/30/16:  $163,858 MLS Sold Volume 1/1/15 – 9/30/15:  $168,396,237 1/1/16 – 9/30/16:  $184,832,900 (data obtained from the Hot Springs Board of Realtors mls, and it does not include home sales by owner, or ot...

The numbers are in for August for residential real estate sales in Garland County, Arkansas and the total sales volume is up 8% over this time last year.  We are also pleased to report that August won the “best month for home sales” so far this year in Garland County with 141 home sales.  May is in second place with 127 home sales, and April is following in third place with 111 home sales in the area. Below is an overview of this year’s sales compared to this same time period year-over-year. Average Days on Market 1/1/15 – 8/31/15:  177 1/1/16 – 8/31/16:  153             Number of Listings Sold 1/1/15 – 8/31/15:  896 1/1/16 – 8/31/16:  986                        Average Price of Sold Listings 1/1/15 – 8/31/15:  $165,985 1/1/16 – 8/31/16:  $163,805 MLS Sold Volume 1/1/...

The numbers are in for July for residential real estate sales in Garland County, Arkansas and the total sales volume is up 6% over this time last year. Below is an overview of this year’s sales compared to this same time period year-over-year.  Average Days on Market 1/1/15 – 7/31/15:  180 1/1/16 – 7/31/16:  156             Number of Listings Sold 1/1/15 – 7/31/15:  773 1/1/16 – 7/31/16:  807                       Average Price of Sold Listings 1/1/15 – 7/31/15:  $164,588 1/1/16 – 7/31/16:  $168,276 MLS Sold Volume 1/1/15 – 7/31/15:  $127,226,628 1/1/16 – 7/31/16:  $135,799,061 (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 ...

The numbers are in for the first half of the year for residential real estate sales in Garland County, Arkansas and the total sales volume is up 10% over this time last year. if you’ve been keeping up with the economists across the country, you have heard reports that another housing bubble is brewing, however, Warren Buffett says NO.  According to Fortune Business News,  "Warren Buffett says now is a good time to buy a house, though not as good as it was four years ago. Still, Buffett says he thinks the chances of housing prices collapsing are very low”. While the rest of the country began seeing the real estate market going strong in 2012 with increased prices and multiple offers on properties, it’s “slow and steady” for the spa city.  2016 seems to be the year that we are comfortable to say that the real estate market in Hot Springs is very stable.  We’re seeing shorter selling periods and values slowly rising again. Below is an overview of this year’s sales ...

The numbers are in for May for residential real estate sales in Garland County, Arkansas and the total sales volume is up 15% over this time last year. Can you guess which market segment spiked in May? While all other segments of the market have recovered over the past couple of years, the resort and vacation home market has been slow to recover. However, CONDO SALES almost tripled compared to the month before!!   - YA YA!!! It’s so exciting to see this segment of the market picking up. There were 28 condo sales in May, which is more condo sales than there have been in one month in Hot Springs since the market crashed in 2007. Hot Springs is such a beautiful city, and it’s so exciting to see the growth and revitalization going on! Below is an overview of this year’s sales compared to this same time period year-over-year. Average Days on Market 1/1/15 – 5/31/15:  191 1/1/16 – 5/31/16:  159             Number...

The numbers are in for April for residential real estate sales in Garland County, Arkansas and it’s still looking GOOD!  The total sales volume is up 16% over this time last year with buyers focusing heavily on land investments (up 27% over last year).  While land sales are picking up, it appears that buyers may be parking their money and sitting tight for the time being.  Residential building permits issued this year are down 50% compared to this time last year.  With new construction inventory down, interest rates low, and buyer confidence much improved, it appears that this may be a good time for some new residential neighborhoods. Below is an overview of this year’s sales compared to this same time period year-over-year. Average Days on Market 1/1/15 – 4/30/15:  200 1/1/16 – 4/30/16:  162             Number of Listings Sold 1/1/15 – 4/30/15:  390 1/1/16 – 4/30/16:  414  ...