Cheers to a Fantastic 2018!

The numbers are in for the residential real estate market and we are pleased to report that the total residential sales volume is up 13% year-over-year for Garland County. The housing inventory continues to drop and is down another 8% since last month, while the demand is strong with qualified buyers ready to buy. 
With the new year approaching along with the recent tax changes, we’re seeing many different “2018 prediction” reports making it difficult to speculate. However, there’s one thing for sure …. Change can be good and bad; it depends on how you look at it.  We choose “good” and believe that 2018 is going to be a great year for the real estate industry in Arkansas.
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 – 11/30/16:  165
1/1/17 – 11/30/17:  168           
Number of Listings Sold
1/1/16 – 11/30/16:  1365
1/1/17 - 11/30/17:  1424               
Average Price of Sold Listings
1/1/16 – 11/30/16:  $166,279
1/1/17 – 11/30/17:  $181,642

MLS Sold Volume
1/1/16 – 11/30/16:  $226,971,935
1/1/17 – 11/30/17:  $258,658,912
(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.  We wish you a happy, healthy and prosperous New Year!
Cheers to a Fantastic 2018!
Jeff and Paulia Kennedy
Hot Springs 1st Choice Realty
(501) 655-6247
Jeff@BestofHotSprings.com

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