Real Estate Information

The numbers are in for April for the residential real estate market in Garland County, Arkansas. 

Below is an overview of our local market.  This report was compiled from data obtained from the Hot Springs Board of Realtors mls, and does not include home sales by owner, or other sales not reported thru the local mls. 

Average Days on Market
1/1/12 – 4/30/12:  183
1/1/13 – 4/30/13:  176            

Number of Listings Sold
1/1/12 – 4/30/12:  303
1/1/13 – 4/30/13:  340                      

Average Price of Sold Listings
1/1/12 – 4/30/12:  $148,235
1/1/13 – 4/30/13:  $151,851          

MLS Sold Volume
1/1/12 – 4/30/12:  $44,915,208
1/1/13 – 4/30/13:  $51,629,449          

Good news … Notice that all of the numbers above are better numbers than the year before. 

Please note that the report above does include residential land sales, and the detailed graph reports on the clickable link will show a clearer picture of home sales (and does not include residential land sales).  Click here for more detailed reports of the current market in Garland County, AR.

If we can help more, please give us a call at 501.655.6247.

The numbers are in for the first quarter for residential real estate market in Garland County, Arkansas. 

Below is an overview of our local market.   (This report was compiled from data obtained from the Hot Springs Board of Realtors mls, and does not include home sales by owner, or other sales not reported thru the local mls.)

Average Days on Market
1/1/12 – 3/31/12:  183
1/1/13 – 3/31/13:  173            

Number of Listings Sold
1/1/12 – 3/31/12:  220
1/1/13 – 3/31/13:  213                      

Average Price of Sold Listings
1/1/12 – 3/31/12:  $138,153
1/1/13 – 3/31/13:  $147,352           

MLS Sold Volume
1/1/12 – 3/31/12:  $30,393,831
1/1/13 – 3/31/13:  $31,386,041          

Click here for a more detailed report of the current market in Garland County, AR.  The numbers for our area are now showing signs of an upswing.  According to USA Today’s recent report – “Boomerang Buyers” may be a strong force behind the upswing in home sales in 2013. 

“Boomerang Buyers” are people who lost homes in foreclosures and short sales in the historic housing bust who are striving to be homeowners again. Their time out of the market may be shorter than many Americans might expect. People who go through foreclosure can rebuild credit records and qualify for home loans again in three to seven years if they manage their finances well. With home prices still low and interest rates near record lows, today's boomerang buyers might even find their next mortgage more affordable than their last one.“  Click here to read the full article. 

Let’s have a wonderful 2013!  If we can help more, please give us a call at 501.655.6247.

The numbers are in for January for the residential real estate market in Garland County, Arkansas. 

Below is an overview of our local market.   (This report was compiled from data obtained from the Hot Springs Board of Realtors mls, and does not include home sales by owner, or other sales not reported thru the local mls.)

Average Days on Market

1/1/12 – 1/31/12:  179
1/1/13 – 1/31/13:  117            

Number of Listings Sold
1/1/12 – 1/31/12:  72
1/1/13 – 1/31/13:  63                      

Average Price of Sold Listings
1/1/12 – 1/31/12:  $120,570
1/1/13 – 1/31/13:  $128,281           

MLS Sold Volume
1/1/12 – 1/31/12:  $8,681,040
1/1/13 – 1/31/13:  $8,081,761           

Click here for a more detailed report of the current market in Garland County, AR.  While January kicked off a little slower this year, national reports are indicating that the housing market is picking up across the country.  We believe the lag in home sales for our area is not surprising, and is actually typical of market trends for a resort market such as Hot Springs.  Since Hot Springs attracts many vacation homeowners and investment property buyers, we expected to see our market trail behind as other areas improve first.

On another positive note, our phone and internet inquiries have tripled in the last few weeks, we are experiencing increased showings to many of our listings, and we are busier than ever working with new sellers and buyers.  We are looking forward to a wonderful 2013, and hope you are too!

We are driven by gratitude, and we truly appreciate when you choose us or you pass along our name to your friends and family to help with your or their real estate needs!  If we can help more, please give us a call at 501.655.6247.

p.s. Be sure to follow us on facebook for more updates on the Hot Springs real estate market, along with fun things going on in our city ... http://www.facebook.com/KennedyTeamRealtors

The numbers are in for the third quarter of this year, and it’s looking better for the residential real estate market in Garland County, Arkansas.  Overall, the residential sales are up 3% over the 2011 market.

Below is an overview of our local market that we prepared for you.  (The information was obtained from the Hot Springs Board of Realtors mls)

Average Days on Market
1/1/11 – 9/31/11:  166
1/1/12 – 9/31/12:  194            

Number of Listings Sold
1/1/11 – 9/31/11:  781
1/1/12 – 9/31/12:  795                      

Average Price of Sold Listings
1/1/11 – 9/31/11:  $162,740
1/1/12 – 9/31/12:  $165,948           

MLS Sold Volume
1/1/11 – 9/31/11:  $127,100,473
1/1/12 – 9/31/12:  $131,929,340           

(Click here for a more detailed report of the current market in Garland County, AR)

With the positive spirit in the air with properties selling and seeing more happy homeowners, it’s been a great motivator for us too.  Our team has sold $16,812,895 in residential sales so far this year, and we’re holding the lead in sales in the Hot Springs area again this year.  We contribute another successful year in the real estate market to having great clients to work with!  It takes more than our team of three full-time real estate agents working together to get a property sold … it also takes a great client, a great lender and a great title company.  When you decide to buy or sell real estate in Hot Springs, we truly appreciate you considering to work with us to get it done.

The numbers are in for May of this year, and we have prepared the following report for you.

Residential Sales in Garland County, AR 

(information obtained from the Hot Springs Board of Realtors mls)

Average Days on Market

1/1/11 – 5/31/11:  171

1/1/12 – 5/31/12:  182            

Number of Listings Sold

1/1/11 – 5/31/11:  384

1/1/12 – 5/31/12:  401                      

Average Price of Sold Listings

1/1/11 – 5/31/11:  $159,988

1/1/12 – 5/31/12:  $157,489           

Percentage of listings that Sold

1/1/11 – 5/31/11:  31%

1/1/12 – 5/31/12:  33%

MLS Sold Volume

1/1/11 – 5/31/11:  $61,435,630

1/1/12 – 5/31/12:  $63,153,114           

(Click here for a more detailed report of the current market in Garland County, AR)

Looks like good news to us!  Notice the number of units sold in 2012 is more than last year, and the total sales volume is also more than last year.   

We’re really excited about the increased activity, and it’s keeping us SUPER busy!  So far, our team has sold $13,209,395 this year, and leading in sales volume in the Hot Springs area.  We’re also excited to mention that our office has sold $33,662,810 this year, and also leading in sales in the Hot Springs area.  We truly appreciate your business and your support with the referrals of your friends and family!

With rates still at historic lows, real estate is a wise investment.  Be sure to give us a call if we can help with your real estate needs.  We are more than happy to help!

The numbers are in for first quarter of the year, and we have prepared the following report for you.

Residential Sales in Garland County, AR 

(information obtained from the Hot Springs Board of Realtors mls)

Average Days on Market

1/1/11 – 3/31/11:  167

1/1/12 – 3/31/12:  179            

Number of Listings Sold

1/1/11 – 3/31/11:  204

1/1/12 – 3/31/12:  220           

Average Price of Sold Listings

1/1/11 – 3/31/11:  $159,733           

1/1/12 – 3/31/12:  $138,153           

Percentage of listings that Sold

1/1/11 – 3/31/11:  28%

1/1/12 – 3/31/12:  33%

MLS Sold Volume

1/1/11 – 3/31/11:  $32,585,629

1/1/12 – 3/31/12:  $30,393,831           

(Click here for a more detailed report of the current market in Garland County, AR)

While the numbers are very similar to last year at this same time, we noticed that there were actually more units sold this year, however the total sales volume was a little less than last year’s volume.

While the local average home sales price is a little low, the national statistics are reporting a different story - stating the luxury market is showing signs of improvement.  According to recent reports by the National Association of Realtors - for the first time, the $500,000 and above market segment represented 10% of all home sales in 2011.  Both the anecdotal and statistical information indicate that although the luxury niche is small, it is outperforming the market in general.

We have also experienced a significant increase in activity in the luxury market, with more showings of our listings priced above $500,000.  In fact, Jeff Kennedy with our team recently closed the largest residential sale in Arkansas this year.  The transaction all started from our internet marketing of a stunning waterfront estate in Hot Springs, custom-built and owned by Rick Ferguson and his wife, Deanna.  This unique property caught the attention of another savvy businessman, Jeremy Carroll, who also owned some really unique properties throughout the state.  After about 10 months of negotiations between both parties, and several trips to all parts of Arkansas to view the various properties owned by each party, another deal was made which involved the trade of a state park in South Arkansas along with a large amount of cash in exchange for a 13,828 square foot manor in West Little Rock and approximately 26 acres of land behind the home.  Contrary to the news report in February of this year by the Arkansas Business Journal, there were no donkeys or peacocks involved in the trade and the home was much larger than 8,900 square feet.

Even Warren Buffet believes the housing market is on the verge of improvement, and says along with equities, single-family homes are a very attractive investment right now. Appearing live on CNBC's Squawk Box, Buffett tells Becky Quick he'd buy up "a couple hundred thousand" single family homes if it were practical to do so. If held for a long period of time and purchased at low rates, Buffett says houses are even better than stocks. 

With rates still at historic lows, real estate is a wise investment.