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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

Luxury Home Market Kicked off in May

by Paulia Kennedy

The numbers are in for May for residential real estate sales in Garland County, Arkansas. Compared to this same time last year, the total sales volume is up 3% with the luxury home market kicking in gear.

For the past five years, there have been an average of two home sales each year with a price tag over $1 million in the area. This year, Hot Springs has already experienced four home sales over $1 million and three of those sales were in May. In 2006, Hot Springs had one sale breaking a luxury home market record for the area with a sale at $3.1 million.  Since then, Hot Springs saw a couple more homes sell on Lake Hamilton for more than $2 million.  Could 2015 be the year for another record breaking year in the luxury home market?

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

Average Days on Market
1/1/14 – 5/31/14:  167
1/1/15 – 5/31/15:  194            

Number of Listings Sold
1/1/14 – 5/31/14:  492
1/1/15 – 5/31/15:  504                      

Average Price of Sold Listings
1/1/14 – 5/31/14:  $156,876
1/1/15 – 5/31/15:  $159,159

MLS Sold Volume
1/1/14 – 5/31/14:  $77,183,356
1/1/15 – 5/31/15:  $80,216,481

(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 the first quarter for residential real estate sales in Garland County, Arkansas. Compared to this same time last year, the number of home sales are up 3% with the total sales volume down slightly due to the luxury home market lagging.  Inventory rose slightly in March yet the total number of homes on the market is still hovering at record lows for this time of year (less than 1000 homes currently on the market).

Below is an overview of sales for the first quarter:

Average Days on Market
1/1/14 – 3/31/14:  166
1/1/15 – 3/31/15:  200            

Number of Listings Sold
1/1/14 – 3/31/14:  266
1/1/15 – 3/31/15:  276                      

Average Price of Sold Listings
1/1/14 – 3/31/14:  $157,541
1/1/15 – 3/31/15:  $147,694

MLS Sold Volume
1/1/14 – 3/31/14:  $41,906,154
1/1/15 – 3/31/15:  $40,763,796

(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 the February for residential real estate sales in Garland County, Arkansas. Compared to this same time last year, the number of home sales are up 7% with the majority of sales in the lower market segment (homes under $150,000) and inventory dropped 2%. Below is an overview of sales for February:

Average Days on Market
1/1/14 – 2/28/14:  158
1/1/15 – 2/28/15:  187            

Number of Listings Sold
1/1/14 – 2/28/14:  160
1/1/15 – 2/28/15:  172                      

Average Price of Sold Listings
1/1/14 – 2/28/14:  $165,887
1/1/15 – 2/28/15:  $139,625

MLS Sold Volume
1/1/14 – 2/28/14:  $26,542,002
1/1/15 – 2/28/15:  $24,015,543

(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

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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.