Downtown Hot Springs is the Place to Be!

The heat has finally made it to Hot Springs with the heat index feeling like 101 this week.  Along with the heat comes some exciting things in the real estate world in the spa city.  If you haven’t been downtown in a while, you will be pleasantly surprised to see all of the improvements and new businesses popping up. There is also some big news that hit the press earlier this week.  Did you hear that Arkansas’ largest hotel – The Arlington recently transferred hands in a private transaction? Sky Capitol Group LP of Little Rock acquired the hotel with plans to continue the renovations and “will be working to maintain it as one of the great American grand hotels” – according to the press release from the Sentinel Record earlier this week. 
We are also pleased to report the numbers for the first half of the year.  The residential real estate market is now up 12% year-over-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
1/1/16 – 6/30/16:  153
1/1/17 – 6/30/17:  167            
Number of Listings Sold
1/1/16 – 6/30/16:  704
1/1/17 - 6/30/17:  711                   
Average Price of Sold Listings
1/1/16 – 6/30/16:  $163,947
1/1/17 – 6/30/17:  $183,379

MLS Sold Volume
1/1/16 – 6/30/16:  $115,418,799
1/1/17 – 6/30/17:  $130,382,865
(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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