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Paulia Kennedy

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Displaying blog entries 1-10 of 103

Real Estate Market is Looking GOOD in Hot Springs!

by Paulia Kennedy

The numbers are in for the first quarter of 2016 for residential real estate sales in Garland County, Arkansas and it’s all looking GOOD!  All of the numbers we watch have improved year over year with the average days on market 28% BETTER, the number of listings sold 1% BETTER, the average selling price 9% BETTER, the total sales volume 10% BETTER, and the housing inventory is holding low (below 1000) as compared to an average of 1450 back in 2010. All indicators are forecasting a great year for real estate in Garland County in 2016!

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 – 3/31/15:  199
1/1/16 – 3/31/16:  155            

Number of Listings Sold
1/1/15 – 3/31/15:  281
1/1/16 – 3/31/16:  284                      

Average Price of Sold Listings
1/1/15 – 3/31/15:  $146,995
1/1/16 – 3/31/16:  $161,167

MLS Sold Volume
1/1/15 – 3/31/15:  $41,305,796
1/1/16 – 3/31/16:  $45,771,458

(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 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 February of 2016 for residential real estate sales in Garland County, Arkansas.  While the sales volume looks like a mirror image of last year, it sure feels like we’re gearing up to have a great year!  In spite of the heavy rains this week, it hasn’t slowed our buyers down. The gas pump has been a frequent stop for us lately, and our passenger seat is staying warm with rotating buyers from all of the bordering states.  Inventory also remains lower than usual, and it’s a great time to sell.

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 – 2/28/15:  201
1/1/16 – 2/29/16:  162            

Number of Listings Sold
1/1/15 – 2/28/15:  177
1/1/16 – 2/29/16:  159                      

Average Price of Sold Listings
1/1/15 – 2/28/15:  $139,460
1/1/16 – 2/29/16:  $156,425

MLS Sold Volume
1/1/15 – 2/28/15:  $24,684,543
1/1/16 – 2/29/16:  $24,871,665

(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 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

Indicators Point to Busiest Spring Since 2006

by Paulia Kennedy

The numbers are in for the January of 2016 for residential real estate sales in Garland County, Arkansas.  The residential real estate market is following a typical January pattern, with cooler demand, reduced inventory and slower market velocity than during warmer months.  However, according to Jonathan Smoke, chief economist of realtor.com, “All indicators point to this spring being the busiest since 2006. The decline in the stock market so far seems to be a net positive for real estate demand.”

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 – 1/31/15:  180
1/1/16 – 1/31/16:  186            

Number of Listings Sold
1/1/15 – 1/31/15:  84
1/1/16 – 1/31/16:  70                      

Average Price of Sold Listings
1/1/15 – 1/31/15:  $126,671
1/1/16 – 1/31/16:  $159,641

MLS Sold Volume
1/1/15 – 1/31/15:  $10,640,446
1/1/16 – 1/31/16:  $11,174,870

(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 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 Residential Sales up 6% in 2015

by Paulia Kennedy

The numbers are in for the year of 2015 for residential real estate sales in Garland County, Arkansas.  The home sales volume is up 6% over last year with the number of homes sold up 2% year-over-year.

2015 was a good year for the luxury market with a total of 10 homes sold over a million dollars.  The most expensive home sold had 9,875 square feet and sold for $1.6 million by our office.  Ironically, the most expensive home sold the year before also sold for $1.6 million by our office (by us).  There were a total of only 3 homes sold over a million in 2014.

Below is an overview of this year’s sales as of last month:

Average Days on Market
1/1/14 – 12/31/14:  165
1/1/15 – 12/31/15:  170            

Number of Listings Sold
1/1/14 – 12/31/14:  1303
1/1/15 – 12/31/15:  1332                      

Average Price of Sold Listings
1/1/14 – 12/31/14:  $160,869
1/1/15 – 12/31/15:  $167,892

MLS Sold Volume
1/1/14 – 12/31/14:  $209,612,670
1/1/15 – 12/31/15:  $223,632,677

(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 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 November for residential real estate sales in Garland County, Arkansas.  The home sales volume is up 8% over last year with the number of homes sold up 2% year-over-year.

Listing inventory trended down 1% over October, which is a normal seasonal pattern as we enter Christmas mode.

The national median age of inventory is at 84 days according to the Chief Economist with Realtor.com, while our market is a little more than double that at 173 days. It’s unrealistic to expect our market to match the national average since a large percentage of our market is resort homeowners and retirees. Yet we are pleased to see a recent uptick in buyers snatching homes a little more quickly as homes hit the market, and we’re even seeing a few multiple offers on a well-priced home as it hits the market.

The average home sales price is at $171,136, which signified a 5% increase year-over year.  This is largely due to the uptick in luxury home sales this year.

Below is an overview of this year’s sales as of last month:

Average Days on Market
1/1/14 – 11/30/14:  163
1/1/15 – 11/30/15:  173            

Number of Listings Sold
1/1/14 – 11/30/14:  1224
1/1/15 – 11/30/15:  1249                      

Average Price of Sold Listings
1/1/14 – 11/30/14: $161,388
1/1/15 – 11/30/15:  $171,136

MLS Sold Volume
1/1/14 – 11/30/14:  $197,539,291
1/1/15 – 11/30/15:  $213,750,052

(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 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

Home Sales are UP in Garland County!

by Paulia Kennedy

The numbers are in for October for residential real estate sales in Garland County, Arkansas. October was a record-breaking month for the luxury home market, which contributed a rise in the average home price in Garland County ($171,717) along with a 4% increase in the total residential sales volume year-over-year.  During the month of October, there were FIVE home sales over $1 million – which is more million dollar home sales than the ENTIRE year of 2014.  This brought the million home sales up to a total of TEN home sales for 2015. 

The number of single family home sales also surged 25% over last month with more sales in all price ranges, while condo sales took a beating with a 76% decline from last month.

Below is an overview of this year’s sales as of last month:

Average Days on Market
1/1/14 – 10/31/14:  163
1/1/15 – 10/31/15:  175            

Number of Listings Sold
1/1/14 – 10/31/14:  1149
1/1/15 – 10/31/15:  1140                      

Average Price of Sold Listings
1/1/14 – 10/31/14: $163,587
1/1/15 – 10/3115:  $171,717

MLS Sold Volume
1/1/14 – 10/31/14:  $187,961,672
1/1/15 – 10/31/15:  $195,757,715

(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 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 third quarter for residential real estate sales in Garland County, Arkansas. The market has now dipped 2% compared to this same period last year. 

Below is an overview of this year’s sales as of last month:

Average Days on Market
1/1/14 – 9/30/14:  161
1/1/15 – 9/30/15:  175            

Number of Listings Sold
1/1/14 – 9/30/14:  1035
1/1/15 – 9/30/15:  1006                      

Average Price of Sold Listings
1/1/14 – 9/30/14:  $165,822
1/1/15 – 9/30/15:  $166,050

MLS Sold Volume
1/1/14 – 9/30/14:  $171,626,374
1/1/15 – 9/30/15:  $167,046,640

(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 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

Market Conditions are Perfect for Buying

by Paulia Kennedy

The numbers are in for August for residential real estate sales in Garland County, Arkansas. The market continues to look steady, and still looking just like last year with the average home price up a just a bit. 

Below is an overview of this year’s sales as of last month:

Average Days on Market
1/1/14 – 8/31/14:  164
1/1/15 – 8/31/15:  178            

Number of Listings Sold
1/1/14 – 8/31/14:  906
1/1/15 – 8/31/15:  891                      

Average Price of Sold Listings
1/1/14 – 8/31/14:  $161,666
1/1/15 – 8/31/15:  $166,488

MLS Sold Volume
1/1/14 – 8/31/14:  $146,469,799
1/1/15 – 8/31/15:  $148,340,894

(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 we move into fall, it’s time to shake things up and get this market kicked into high gear!  With the market stabilized for more than 20 months, inventory at its lowest since the crash in 2007, interest rates still laying low, ALL IS GOOD for real estate in this area!  Let’s get this market rolling again.

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

Condo Market on the Upswing

by Paulia Kennedy

The numbers are in for July for residential real estate sales in Garland County, Arkansas. The market looks stable and steady, and moving at the same pace almost identical to last year.

While the overall total figures are so close, we saw a shift in the buyers during the month of July.  Condo sales rose 16%, while single family home sales dipped 16% compared to last month.  The condo inventory also dipped 8%, making July a much better month for the condo market.

Below is an overview of this year’s sales as of last month:

Average Days on Market
1/1/14 – 7/31/14:  165
1/1/15 – 7/31/15:  181            

Number of Listings Sold
1/1/14 – 7/31/14:  768
1/1/15 – 7/31/15:  763                      

Average Price of Sold Listings
1/1/14 – 7/31/14:  $161,270
1/1/15 – 7/31/15:  $165,184

MLS Sold Volume
1/1/14 – 7/31/14:  $123,855,400
1/1/15 – 7/31/15:  $126,036,028

(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

Hot Springs Market Update

by Paulia Kennedy

The numbers are in for June for residential real estate sales in Garland County, Arkansas. Compared to this same time last year, the total sales volume is almost identical to this time last year with the average home price now at $160,180.

June was the month for first-time home buyers and downsizing buyers.  The number of single family homes sold under $150,000 was up 37% over May,

While single family home sales are doing better, condo sales seem to be slow to bounce back. Summer months are generally the time of year when we see condo sales pick up, but June was a little different this year.  Condo sales dropped 27% compared to May.

Another positive factor in our real estate market is a look at the inventory level.  Inventory is staying low this summer, which is beneficial in the market improving.  Compared to this same time last year, inventory is down 11% 

Below is an overview of this year’s sales as of last month:

Average Days on Market
1/1/14 – 6/30/14:  165
1/1/15 – 6/30/15:  191            

Number of Listings Sold
1/1/14 – 6/30/14:  628
1/1/15 – 6/30/15:  640                      

Average Price of Sold Listings
1/1/14 – 6/30/14:  $161,829
1/1/15 – 6/30/15:  $160,180

MLS Sold Volume
1/1/14 – 6/30/14:  $101,628,881
1/1/15 – 6/30/15:  $102,515,723

(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

Displaying blog entries 1-10 of 103

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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.