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Paulia Kennedy

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Wrapping up 2014 on the Upswing ... 2015's looking Mysterious

by Paulia Kennedy

The numbers are in for the year of 2014 in residential real estate sales in Garland County, Arkansas, and it’s been a good year!  Compared to the year before, the total residential sales volume is up 5% over the same period of last year.  Our team was blessed to have a fantastic year as well.  We helped our customers buy and sell 33 homes totaling almost $11 million in transaction value last year.  Around 75% of our business came from either repeat or referrals, and we truly appreciate those of you who have helped us make our business a success! 

As we start off another new year, it’s a time of goal setting and predictions.  While reviewing many of the predictions for real estate by economists, we thought the news release on December 9, 2014 by Fortune was interesting.  “At a recent panel discussion on the 2015 real estate market, the chairman of Standard and Poor’s Index Committee, David Blitzer, was asked to describe what the market will look like in one word.  His answer? “Mysterious.”  His response tells us that, for one, the real estate market can confound even the experts. But, more importantly, it suggests that housing has reached an inflection point. With home prices in many markets at or above pre-bubble levels, we can no longer expect the “rebound effect” to power home values higher each month.” 

The article then went on to talk about the trends to watch this year, and we found it interesting that the first trend to watch was the movement of the Millennials. “The demographic wave of Millennials will help boost prices: The U.S. has been stuck in a demographic rut, which has dragged down the demand for homes. For the past decade, the largest portion of the American population was made up of Baby Boomers, folks who long ago settled down and started families. But late last year, the Census Bureau announced that the cohort of now-23-year-old Americans is the largest in the country, followed by 24 and 22-year olds, respectively. As this ascendant generation ages another year, more of them will start families and look to buy homes of their own.”  To read the full article, click here.   We think you will find it enlightening, and will offer a better picture of what to expect in our local market in 2015.

Below is an overview of sales for this period:

Average Days on Market
1/1/13 – 12/31/13:  171
1/1/14 – 12/31/14:  165

Number of Listings Sold
1/1/13 – 12/31/13:  1192
1/1/14 – 12/31/14:  1296                     

Average Price of Sold Listings
1/1/13 – 12/31/13:  $166,655
1/1/14 – 12/31/14:  $161,349

MLS Sold Volume
1/1/13 – 12/31/13:   $198,652,776
1/1/14 – 12/31/14:   $209,108,920

(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

Housing Inventory Hits Record Low

by Paulia Kennedy

The numbers are in for November in residential real estate sales in Garland County, Arkansas.  Compared to the year before, the total residential sales volume is up 4% over the same period of last year. 

As we review the market closely every month, we’re pleased to report that our market has continued to make slow and steady progress, and inventory is at a record low. The total number of homes on the market in Garland County dropped below 1000 for the first time since we’ve been keeping records.  We’re optimistic that the supply and demand will continue to level and bring us a balanced market in the near future for buyers and sellers.

Below is an overview of sales for this period:

Average Days on Market
1/1/13 – 11/30/13:  172
1/1/14 – 11/30/14:  163 

Number of Listings Sold
1/1/13 – 11/30/13:  1120
1/1/14 – 11/30/14:  1204                     

Average Price of Sold Listings
1/1/13 – 11/30/13:  $167,688
1/1/14 – 11/30/14:  $162,499

MLS Sold Volume
1/1/13 – 11/30/13:   $187,810,666
1/1/14 – 11/30/14:   $195,648,983

(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

Luxury Home Sales Up 24%

by Paulia Kennedy

The numbers are in for the third quarter in residential real estate sales in Garland County.  Compared to the year before, the total residential sales volume is up 5% over the same period of last year. 

As we review the market closely every month, we’re pleased to report that our market has continued to make slow and steady progress month after month this year with the luxury market still on the rise. Home sales over $500,000 are up 24% this year with a total of 41 sales over $500,000 in Garland County with three sales over a million.  The largest sale so far this year was $1,600,000 by Jeff Kennedy. Last year during this same period - there were only 33 home sales over $500,000 with one sale over a million. 

Below is an overview of sales for this period:

Average Days on Market
1/1/13 – 9/30/13:  173
1/1/14 – 9/30/14:  162 

Number of Listings Sold
1/1/13 – 9/30/13:  949
1/1/14 – 9/30/14: 1015                     

Average Price of Sold Listings
1/1/13 – 9/30/13:  $168,155
1/1/14 – 9/30/14:  $166,591

MLS Sold Volume
1/1/13 – 9/30/13:   $159,579,443
1/1/14 – 9/30/14:   $169,089,975

(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,

Paulia

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

Displaying blog entries 1-10 of 89

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.