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January was smoking HOT in Hot Springs

by Paulia Kennedy

The Spa City is in full gear, kicking off the year with a HOT real estate market in January!  Not only did Oaklawn open the gates for the thoroughbreds to run in January … the resort buyers also kicked open the gates and have been pouring into Hot Springs.  We’re back to 12 hour - 7 day work weeks and loving it (well, most of the time).

In our local market, residential sales started off 43% over last year for total sales volume in January. Below is an overview of this year’s sales compared to this same time period year-over-year. Let’s keep this momentum going and balance our market with an even playing field between buyers and sellers this year!

Average Days on Market
1/1/16 – 1/31/16:  184
1/1/17 – 1/31/17:  148            

Number of Listings Sold
1/1/16 – 1/31/16:  71
1/1/17 – 1/31/17:  86                   

Average Price of Sold Listings
1/1/16 – 1/31/16:  $157,976
1/1/17 – 1/31/17:  $187,262

MLS Sold Volume
1/1/16 – 1/31/16:  $11,216,300
1/1/17 – 1/31/17:  $16,104,550

(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 home sales 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 1st Choice Realty
(501) 655-6247
Jeff@BestofHotSprings.com

Let’s connect socially:
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Home Sales are UP in Garland County!

by Paulia Kennedy

Great News!  The numbers are in for residential real estate sales in Garland County for 2016 and the total sales volume  is up 11% over last year. The numbers in all other categories also improved … Homes sold faster and for more money in 2016.  Looks like we’re headed in the right direction for 2017!

Below is an overview of this year’s sales compared to last year’s sales.

Average Days on Market
1/1/15 – 12/31/15:  170
1/1/16 – 12/31/16:  164            

Number of Listings Sold
1/1/15 – 12/31/15:  1335
1/1/16 – 12/31/16:  1479                   

Average Price of Sold Listings
1/1/15 – 12/31/15:  $167,701
1/1/16 – 12/31/16:  $168,054

MLS Sold Volume
1/1/15 – 12/31/15:  $223,881,277
1/1/16 – 12/31/16:  $248,553,004

(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 1st Choice Realty
(501) 655-6247
Jeff@BestofHotSprings.com

Let’s connect socially:
Facebook
Twitter

What's in Store for 2017

by Paulia Kennedy

As the end of 2016 nears, there’s one thing for certain … We are all eager to know what’s in store for the real estate market in 2017. 

According to the Fiscal Times, “Nearly a decade after the real estate crisis set off wild swings in the housing market, most markets finally stabilized last year. The election of Donald Trump has brought uncertainty into the industry, however. While the President-elect built his empire on real estate, he has said relatively little about what policy changes he might make regarding housing. That’s not too unusual, since when the housing market is doing well it is generally not a campaign issue.”  Click here for the full story.

Here’s what some of the experts are saying they expect to see in 2017:

1.  Rising prices will keep pushing up homeowners’ net worth.

2. But mortgage rates are going up.

3. It’s getting easier to get a mortgage.

4. Rents will continue to level off. 

5. The share of cash buyers will move closer to normal.

6. New homes are getting smaller.

7. Inventory will remain tight.

8. Foreign buyers will play a smaller role.

9. It’s getting easier for first-time buyers.

While “the bull in the cabinet shop” is shaking things up, we see Trump being good for the housing and mortgage markets in the long term.

In our local market, residential sales are up 5% 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 – 11/30/15:  172
1/1/16 – 11/30/16:  163            

Number of Listings Sold
1/1/15 – 11/30/15:  1254
1/1/16 – 11/30/16:  1359                   

Average Price of Sold Listings
1/1/15 – 11/30/15:  $170,701
1/1/16 – 11/30/16:  $166,432

MLS Sold Volume
1/1/15 – 11/30/15:  $214,060,152
1/1/16 – 11/30/16:  $226,182,035

(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 1st Choice Realty
(501) 655-6247
Jeff@BestofHotSprings.com

Let’s connect socially:
Facebook
Twitter

What Kind of Impact will President Trump have on the Real Estate Market?

by Paulia Kennedy

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.

Warm regards,

Jeff and Paulia Kennedy

Conditions are better than ever in Hot Springs for buying and selling a home.  Inventory is down 6% over last year, bank rates are good, sales are up 9% over last year, and the weather is fantastic for buyers to shop.  
 
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 – 9/30/15:  176
1/1/16 – 9/30/16:  155            

Number of Listings Sold
1/1/15 – 9/30/15:  1020
1/1/16 – 9/30/16:  1128                      

Average Price of Sold Listings
1/1/15 – 9/30/15:  $165,094
1/1/16 – 9/30/16:  $163,858

MLS Sold Volume
1/1/15 – 9/30/15:  $168,396,237
1/1/16 – 9/30/16:  $184,832,900

(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
 

More Homes Sold in August than any other month this Year

by Paulia Kennedy

The numbers are in for August for residential real estate sales in Garland County, Arkansas and the total sales volume is up 8% over this time last year.  We are also pleased to report that August won the “best month for home sales” so far this year in Garland County with 141 home sales.  May is in second place with 127 home sales, and April is following in third place with 111 home sales in the area.

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 – 8/31/15:  177
1/1/16 – 8/31/16:  153            

Number of Listings Sold
1/1/15 – 8/31/15:  896
1/1/16 – 8/31/16:  986                      

Average Price of Sold Listings
1/1/15 – 8/31/15:  $165,985
1/1/16 – 8/31/16:  $163,805

MLS Sold Volume
1/1/15 – 8/31/15:  $148,722,994
1/1/16 – 8/31/16:  $161,512,079

(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 July for residential real estate sales in Garland County, Arkansas and the total sales volume is up 6% over this time last year.

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 – 7/31/15:  180
1/1/16 – 7/31/16:  156            

Number of Listings Sold
1/1/15 – 7/31/15:  773
1/1/16 – 7/31/16:  807                      

Average Price of Sold Listings
1/1/15 – 7/31/15:  $164,588
1/1/16 – 7/31/16:  $168,276

MLS Sold Volume
1/1/15 – 7/31/15:  $127,226,628
1/1/16 – 7/31/16:  $135,799,061

(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.

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 first half of the year for residential real estate sales in Garland County, Arkansas and the total sales volume is up 10% over this time last year.

if you’ve been keeping up with the economists across the country, you have heard reports that another housing bubble is brewing, however, Warren Buffett says NO.  According to Fortune Business News, "Warren Buffett says now is a good time to buy a house, though not as good as it was four years ago. Still, Buffett says he thinks the chances of housing prices collapsing are very low”.

While the rest of the country began seeing the real estate market going strong in 2012 with increased prices and multiple offers on properties, it’s “slow and steady” for the spa city.  2016 seems to be the year that we are comfortable to say that the real estate market in Hot Springs is very stable.  We’re seeing shorter selling periods and values slowly rising again.

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 – 6/30/15:  191
1/1/16 – 6/30/16:  152            

Number of Listings Sold
1/1/15 – 6/30/15:  646
1/1/16 – 6/30/16:  692                      

Average Price of Sold Listings
1/1/15 – 6/30/15:  $160,342
1/1/16 – 6/30/16:  $165,716

MLS Sold Volume
1/1/15 – 6/30/15:  $103,581,123
1/1/16 – 6/30/16:  $114,675,899

(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

Resort & Vacation Home Market on the Rise in Hot Springs

by Paulia Kennedy

The numbers are in for May for residential real estate sales in Garland County, Arkansas and the total sales volume is up 15% over this time last year.

Can you guess which market segment spiked in May? While all other segments of the market have recovered over the past couple of years, the resort and vacation home market has been slow to recover. However, CONDO SALES almost tripled compared to the month before!!  - YA YA!!! It’s so exciting to see this segment of the market picking up. There were 28 condo sales in May, which is more condo sales than there have been in one month in Hot Springs since the market crashed in 2007. Hot Springs is such a beautiful city, and it’s so exciting to see the growth and revitalization going on!

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 – 5/31/15:  191
1/1/16 – 5/31/16:  159            

Number of Listings Sold
1/1/15 – 5/31/15:  507
1/1/16 – 5/31/16:  558                      

Average Price of Sold Listings
1/1/15 – 5/31/15:  $159,108
1/1/16 – 5/31/16:  $166,779

MLS Sold Volume
1/1/15 – 5/31/15:  $80,667,881
1/1/16 – 5/31/16:  $93,062,992

(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
 

Garland County Sales up 16% with Land Sales Way UP!

by Paulia Kennedy

The numbers are in for April for residential real estate sales in Garland County, Arkansas and it’s still looking GOOD!  The total sales volume is up 16% over this time last year with buyers focusing heavily on land investments (up 27% over last year).  While land sales are picking up, it appears that buyers may be parking their money and sitting tight for the time being.  Residential building permits issued this year are down 50% compared to this time last year. 

With new construction inventory down, interest rates low, and buyer confidence much improved, it appears that this may be a good time for some new residential neighborhoods.

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 – 4/30/15:  200
1/1/16 – 4/30/16:  162            

Number of Listings Sold
1/1/15 – 4/30/15:  390
1/1/16 – 4/30/16:  414                      

Average Price of Sold Listings
1/1/15 – 4/30/15:  $148,308
1/1/16 – 4/3016:  $165,604

MLS Sold Volume
1/1/15 – 4/30/15:  $57,840,480
1/1/16 – 4/30/16:  $68,560,407

(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

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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.