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Paulia Kennedy

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Displaying blog entries 1-10 of 86

Summer Selling

by Paulia Kennedy

The numbers are in for August in residential real estate sales in Garland County, Arkansas.  Compared to the year before, the total residential sales volume is up 3% over the same period of last year.   While the total sales volume has leveled throughout the year, the number of properties sold is up 7% over the year before.  Inventory is also steadily dropping and is down 7% as compared to this same period last year. 

Below is an overview of sales for this period:

Average Days on Market
1/1/13 – 8/31/13:  174
1/1/14 – 8/31/14:  164 

Number of Listings Sold
1/1/13 – 8/31/13:  821
1/1/14 – 8/31/14:  880                     

Average Price of Sold Listings
1/1/13 – 8/31/13:  $167,783
1/1/14 – 8/31/14:  $162,476

MLS Sold Volume
1/1/13 – 8/31/13:   $137,750,393
1/1/14 – 8/31/14:   $142,979,546

(data obtained from the Hot Springs Board of Realtors mls.  This report includes ALL residential sales in Garland County sold by a licensed real estate agent who is a member of the Hot Springs Board of Realtors mls - including land, condos, mobile homes, single family homes and other properties categorized as residential)

Click here to take a look at the next report that shows a more detailed overview of the current market 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
 

The Luxury Market is on the Rise

by Paulia Kennedy

The numbers are in for July in residential real estate sales in Garland County, Arkansas.  Compared to the year before, residential sales are up 9% over the same period of last year, and the luxury market is making a come back. This same time last year there were 20 homes that sold over $500,000 with only one sale over a million during the first seven months of the year.  This year there have been 27 home sales over $500,000 with two sales over a million … that’s a 35% increase in our luxury market! Over the most recent years, many luxury home owners gave up and took their home off the market. Today, our team has three more luxury homes currently under contract in this price range with two of them priced over a million. It’s exciting to see this segment of the market back on the rise!

Below is an overview of sales for this period:

Average Days on Market
1/1/13 – 7/31/13:  175
1/1/14 – 7/31/14:  166 

Number of Listings Sold
1/1/13 – 7/31/13:  670
1/1/14 – 7/31/14:  751                     

Average Price of Sold Listings
1/1/13 – 7/31/13:  $166,742
1/1/14 – 7/31/14:  $162,137

MLS Sold Volume
1/1/13 – 7/31/13:   $111,717,790
1/1/14 – 7/31/14:   $121,765,200

(data obtained from the Hot Springs Board of Realtors mls.  This report includes ALL residential sales in Garland County sold by a licensed real estate agent who is a member of the Hot Springs Board of Realtors mls - including land, condos, mobile homes, single family homes and other properties categorized as residential)

Click here to take a look at the next report that shows a more detailed overview of the current market 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

p.s. If you know anyone who would like to be added to our monthly market update report, please let us know and we'll be glad to keep them in the loop.

Inventory is dropping and Sales are climbing

by Paulia Kennedy

The numbers are in for the mid-year in residential real estate sales in Garland County, Arkansas.  Compared to the year before, residential sales are up 10% over the same period of last year, and up 20% over the previous month (5/2014). 

Below is an overview of sales for the first quarter:

Average Days on Market
1/1/13 – 6/30/13:  172
1/1/14 – 6/30/14:  169 

Number of Listings Sold
1/1/13 – 6/30/13:  561
1/1/14 – 6/30/14:  609                     

Average Price of Sold Listings
1/1/13 – 6/30/13:  $160,165
1/1/14 – 6/30/14:  $163,081

MLS Sold Volume
1/1/13 – 6/30/13:   $89,852,945
1/1/14 – 6/30/14:   $99,316,381

(data obtained from the Hot Springs Board of Realtors mls.  This report includes ALL residential sales in Garland County sold by a licensed real estate agent who is a member of the Hot Springs Board of Realtors mls - including land, condos, mobile homes, single family homes and other properties categorized as residential)

Click here to take a look at the next report that shows a more detailed overview of the current market in Garland County, AR. This report will give you a better look at the supply and demand of homes.

Contrary to the norm for the summer months, inventory dropped a little more in June with a 36% increase in single family home sales which offset the drop in condo sales for that month. 

Land sales are also on the rise this year with a 29% increase in total sales volume over this same time period last year.  At mid-year in 2013 there  were 75 parcels sold with an average sales price of $55,584.  This year during the same period there were 68 parcels sold with an average sales price of $79,508. … fewer sales, but at higher prices.

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 Market Update

by Paulia Kennedy

The numbers are in for May in residential real estate sales in Garland County, Arkansas.  Compared to the year before, residential sales are up 5% over the same period of last year, and up 12% over the previous month (4/2014). 

Below is an overview of sales for the first quarter:

Average Days on Market
1/1/13 – 5/31/13:  173
1/1/14 – 5/31/14:  169            

Number of Listings Sold
1/1/13 – 5/31/13:  454
1/1/14 – 5/31/14:  477                     

Average Price of Sold Listings
1/1/13 – 5/31/13:  $157,433
1/1/14 – 5/31/14:  $158,019

MLS Sold Volume
1/1/13 – 5/31/13:   $71,474,709
1/1/14 – 5/31/14:   $75,375,256

(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 market in Garland County, AR. This report will give you a better look at the supply and demand of homes.

Instead of the expected rise in inventory, it actually dropped just a tad in May. Condo sales also doubled in May (22 units sold), which contributed to the 12% increase in sales this month.

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 Market Update

by Paulia Kennedy

The numbers are in for April in residential real estate sales in Garland County, Arkansas.  Compared to the year before, residential sales are up 5% over the same period of last year, and up 9% over the previous month (3/2014). 

Below is an overview of sales for the first quarter:

Average Days on Market
1/1/13 – 4/30/13:  174
1/1/14 – 4/30/14:  167            

Number of Listings Sold
1/1/13 – 4/30/13:  345
1/1/14 – 4/30/14:  361                      

Average Price of Sold Listings
1/1/13 – 4/30/13:  $151,135
1/1/14 – 3/31/14:  $153,806

MLS Sold Volume
1/1/13 – 4/30/13:   $52,141,849
1/1/14 – 4/30/14:   $55,524,117

(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 market in Garland County, AR. This report will give you a better look at the supply and demand of homes.

As expected, inventory is also climbing and competition is heating up for sellers.  April’s inventory is up 5% over March’s inventory.  In an effort to level the playing field for our sellers in this buyers’ market, we’re always looking for ways to improve our marketing efforts.  So we’re excited to announce that we have added another marketing tool to our services to help our sellers outshine the competition and ultimately sell faster for more money.  Paulia has recently completed additional training in staging homes and is now the only Accredited Staging Professional in Hot Springs, and we are offering this service to our clients at no additional charge.  This service includes a full analysis of your home inside and out.  (note - expect complete honesty and teamwork.)

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
 

Hot Springs Market Update

by Paulia Kennedy

The numbers are in for the first quarter in residential real estate sales in Garland County, Arkansas.  Compared to the year before, residential sales are up 16% over the first quarter of last year.

Below is an overview of sales for the first quarter:

Average Days on Market
1/1/13 – 3/31/13:  169
1/1/14 – 3/31/14:  170            

Number of Listings Sold
1/1/13 – 3/31/13:  227
1/1/14 – 3/31/14:  249                      

Average Price of Sold Listings
1/1/13 – 3/31/13:  $145,340
1/1/14 – 3/31/14:  $154,980

MLS Sold Volume
1/1/13 – 3/31/13:   $32,992,391
1/1/14 – 3/31/14:   $38,590,061

(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 next report that shows a more detailed overview of the current market in Garland County, AR. This report will give you a better look at the supply and demand of homes.

It’s rejuvenating to see this uptick in our real estate market.  Now that spring is here, the warm weather has brought new life and energy to Hot Springs and it’s exciting!  We’re seeing homes that have been on the market for months are now selling, and sellers who have been waiting are starting to fill the market.  Inventory increased 4% in March over the month before, and we also experienced a 22% increase in sales for March over the month before. 

If we can ever 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 Market Update

by Paulia Kennedy

The numbers are in for the month of February in residential real estate sales in Garland County, Arkansas.  Compared to the year before, residential sales are up 30% over last February.

Below is an overview of sales for February:

Average Days on Market
1/1/13 – 2/28/13:  149
1/1/14 – 2/28/14:  163            

Number of Listings Sold
1/1/13 – 2/28/13:  138
1/1/14 – 2/28/14:  158                      

Average Price of Sold Listings
1/1/13 – 2/28/13:  $145,702
1/1/14 – 2/28/14:  $166,117

MLS Sold Volume
1/1/13 – 2/28/13:   $20,106,961
1/1/14 – 2/28/14:   $26,246,502

(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 report that shows a more detailed overview of the current market in Garland County, AR. This report will give you a better look at the supply and demand of homes.

If we can ever 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

2014 is off with a Bang!!

by Paulia Kennedy

AWESOME NEWS!!!!  The numbers are in for the first month of 2014 for residential real estate sales in Garland County, Arkansas, and one word sums it up …. “WOW!” Compared to the year before, residential sales are up 75% over last January.

This exciting news is driven by an up-tick in our luxury market.  The Luxury Insights reported this week that "The post-recession reality is that the customer base for businesses that appeal to the middle class is shrinking as the top tier pulls even further away.” And so says The New York Times in Sunday's Business Day article: "The Middle Class Is Steadily Eroding. Just Ask the Business World." In a nutshell: Income inequality is deepening. Affluent consumers are spending more and driving the economic engine. From restaurants to retail, appliances to casinos, the "high-end" is where the action is and it is largely driving what growth there is in the economy. "The current recovery has been driven almost entirely by the upper crust...about 90 percent of the overall increase in inflation-adjusted consumption between 2009 and 2012 was generated by the top 20 percent of households in terms of income."

We expect to see the luxury segment as the "good news" story in real estate and in most markets, as it continues to be the dominant segment driving the post-recession recovery.

Below is an overview of sales for January:

Average Days on Market
1/1/13 – 1/31/13:  117
1/1/14 – 1/31/14:  186            

Number of Listings Sold
1/1/13 – 1/31/13:  66
1/1/14 – 1/31/14:  81                      

Average Price of Sold Listings
1/1/13 – 1/31/13:  $125,372
1/1/14 – 1/31/14:  $179,428

MLS Sold Volume
1/1/13 – 1/31/13:   $8,274,561
1/1/14 – 1/31/14:  $14,533,702

(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)

While we enjoy working with all buyers and sellers, we have additional experience and expertise in marketing the upper-tier market as the only certified luxury home marketing specialists in this area. and our office normally holds the lead position with the highest average sales price. In fact, Jeff Kennedy and two other agents in our office sold the top three luxury homes in January:  $410,000 in Stonegate, $590,000 in Quail Ridge, and $1,200,000 in Oak Shores.

Click here to take a look at the next report that shows a more detailed overview of the current market in Garland County, AR. This report will give you a better look at the supply and demand of homes.

If we can ever 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,

the Kennedy Crew

Hot Springs Market Update and 2014 Predictions

by Paulia Kennedy

The numbers are in for the year of 2013 residential real estate sales in Garland County, Arkansas, and it’s been a good year!  Compared to the year before, residential sales are up 12%, and inventory is down another 5% since last month. 

Average Days on Market
1/1/12 – 12/31/12:  191
1/1/13 – 12/31/13:  171            

Number of Listings Sold
1/1/12 – 12/31/12:  1049
1/1/13 – 12/31/13:  1187                   

Average Price of Sold Listings
1/1/12 – 12/31/12:  $168,156
1/1/13 – 12/31/13:  $167,380

MLS Sold Volume
1/1/12 – 12/31/12:   $176,396,670
1/1/13 – 12/31/13:   $198,680,576

(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 market in Garland County, AR. This report will give you a better look at the supply and demand of homes. 

We predict 2014 to be a continuation of this positive trend.  Take a look at our six predictions for real estate in the Hot Springs area for 2014:

  1. Mortgage rates will reach 5% by year-end
  2. Home values will stay stabile with no significant changes
  3. Waterfront condos will still be slow-moving with sellers holding tight on prices
  4. Luxury market will continue to improve with increased sales
  5. Inventory will stay low
  6. New Home development will stay slow due to city development guidelines.

What are your thoughts?

If we can ever help more, please don’t hesitate to give us a call at 501.655.6247.  It is always our pleasure to serve you.

 

 

Hot Springs Market Update

by Paulia Kennedy

The numbers are in for November of the residential real estate market in Garland County, Arkansas.  Compared to last year’s market, residential sales are up 13%, and inventory is down another 1% since last month. 

Average Days on Market
1/1/12 – 11/30/12:  193
1/1/13 – 11/30/13:  173            

Number of Listings Sold
1/1/12 – 11/30/12:   980
1/1/13 – 11/30/13:  1114                   

Average Price of Sold Listings
1/1/12 – 11/30/12:  $168,212
1/1/13 – 11/30/13:  $167,424

MLS Sold Volume
1/1/12 – 11/30/12:   $164,848,095
1/1/13 – 11/30/13:   $186,510,420

(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 market in Garland County, AR. This report will give you a better look at the supply and demand of homes. 

As the spirit of the holidays are here, we are reminded of those who have helped us, both in business and our personal lives.
 Clearly we don't get enough opportunities to say "thank you" in person, even though we are immensely grateful for each and every one of you.
 
So, at this very special time of year we want to express our deepest appreciation for your support and confidence in us, your referrals and your friendship. 
It means so much and is so important as we look to move forward and grow our business here in Hot Springs.
From our family to yours, we send you our fondest wishes for a Merry Christmas.  May the joy of the holidays extend to you and your family throughout the coming year!

If at any time 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.

 

Displaying blog entries 1-10 of 86

Contact Information

Photo of Jeff and Paulia Kennedy Real Estate
Jeff and Paulia Kennedy
Hot Springs 1st Choice Realty
135 Mall
Hot Springs AR 71913
501-655-6247

This information has been collected from sources that are believed to be reliable, but is provided 'AS IS.' No representations or warranties as to accuracy, reliability or completeness of this information are made or implied, and all warranties are specifically disclaimed. Jeff & Paulia Kennedy are licensed REALTOR®s in the State of Arkansas.