Hot Springs AR Market Update

The real estate market in the Hot Springs area continued to pick up steam during March. The market is up 20% over last year for the total sales volume, with the average sales price at $177,250. While Hot Springs is still a buyers’ market with the average days on market a little over six months, we are beginning to see some homes experience multi-offers when they hit the market staged and priced right.
Below is an overview of this year’s sales compared to this same time period year-over-year.
Average Days on Market
1/1/16 – 3/31/16:  148
1/1/17 – 3/31/17:  187            
Number of Listings Sold
1/1/16 – 3/31/16:  306
1/1/17 – 3/31/17:  317                  
Average Price of Sold Listings
1/1/16 – 3/31/16:  $152,934
1/1/17 – 3/31/17:  $177,250

MLS Sold Volume
1/1/16 – 3/31/16:  $46,797,958
1/1/17 – 3/31/17:  $56,188,448
(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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