Hot Springs Skinny

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 – 3/3...

The numbers are in for February and the residential real estate market in the Hot Springs area is in good shape.  We are up 21% over last year for the total sales volume. 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 – 2/28/16:  154 1/1/17 – 2/28/17:  145             Number of Listings Sold 1/1/16 – 2/28/16:  172 1/1/17 – 2/28/17:  176                    Average Price of Sold Listings 1/1/16 – 2/28/16:  $146,047 1/1/17 – 2/28/17:  $172,684 MLS Sold Volume 1/1/16 – 2/28/16:  $25,120,145 1/1/17 – 2/28/17:  $30,392,502 (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...

The Spa City is in full gear, kicking off the year with a HOT real estate market in January!  Not only did Oaklawn open the gates for the thoroughbreds to run in January … the resort buyers also kicked open the gates and have been pouring into Hot Springs.  We’re back to 12 hour - 7 day work weeks and loving it (well, most of the time). In our local market, residential sales started off 43% over last year for total sales volume in January. Below is an overview of this year’s sales compared to this same time period year-over-year. Let’s keep this momentum going and balance our market with an even playing field between buyers and sellers this year! Average Days on Market 1/1/16 – 1/31/16:  184 1/1/17 – 1/31/17:  148             Number of Listings Sold 1/1/16 – 1/31/16:  71 1/1/17 – 1/31/17:  86                 ...

Great News!  The numbers are in for residential real estate sales in Garland County for 2016 and the total sales volume  is up 11% over last year. The numbers in all other categories also improved … Homes sold faster and for more money in 2016.  Looks like we’re headed in the right direction for 2017! Below is an overview of this year’s sales compared to last year’s sales. Average Days on Market 1/1/15 – 12/31/15:  170 1/1/16 – 12/31/16:  164             Number of Listings Sold 1/1/15 – 12/31/15:  1335 1/1/16 – 12/31/16:  1479                    Average Price of Sold Listings 1/1/15 – 12/31/15:  $167,701 1/1/16 – 12/31/16:  $168,054 MLS Sold Volume 1/1/15 – 12/31/15:  $223,881,277 1/1/16 – 12/31/16:  $248,553,004 (data obtained from the Hot Springs Board of Realtors mls, a...

As the end of 2016 nears, there’s one thing for certain … We are all eager to know what’s in store for the real estate market in 2017.  According to the Fiscal Times, “Nearly a decade after the real estate crisis set off wild swings in the housing market, most markets finally stabilized last year. The election of Donald Trump has brought uncertainty into the industry, however. While the President-elect built his empire on real estate, he has said relatively little about what policy changes he might make regarding housing. That’s not too unusual, since when the housing market is doing well it is generally not a campaign issue.”   Click here  for the full story. Here’s what some of the experts are saying they expect to see in 2017: 1.  Rising prices will keep pushing up homeowners’ net worth. 2. But mortgage rates are going up. 3. It’s getting easier to get a mortgage. 4. Rents will continue to level off.  5. The share of cash buyers will move ...

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...