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: 158
Number of Listings Sold
1/1/15 – 10/31/15: 1157
1/1/16 – 10/31/16: 1250
Average Price of Sold Listings
1/1/15 – 10/31/15: $171,213
1/1/16 – 10/31/16: $165,190
MLS Sold Volume
1/1/15 – 10/31/15: $198,093,880
1/1/16 – 10/31/16: $206,487,934
(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.
Jeff and Paulia Kennedy