Happy New Year!!! Hope yours is wonderful. I thought I would start out the new year with a fairly detailed report of the listed residential home market in Garland County, followed by some more criteria changes, so you can see how those changes have effects on the outcome.

We tend to be influenced by headlines. Headlines are designed to make you either buy the paper or read the article. Are they accurate? Yes and no. I will bet that they are not accurate to what YOU are looking for if you are in the market for a Home for sale in Hot Springs, Arkansas or the surrounding area.

First data: Residential Homes for sale, countywide (Garland County, Arkansas).
Below, you will see the data for residential Hot Springs areaHomes for sale. This does not include condos, manufactured homes, modular homes, or lakefronts. Just homes, all ages, all sizes, all school districts.
There are 536 active listings in this category in our county. The data regarding High and Low asking prices, average asking price and median asking price is below:

LISTING COUNT:
536
DAYS ON MARKET:
0
0
0
0
 
LIST PRICE:
 
HIGH LOW AVERAGE MEDIAN TOTAL PRICE
$2,950,000
$17,900
$202,352
$157,000
$108,461,161
 
 
 
 
 

 

Now... for exercise's sake, Let's change the criteria of what people might be looking for. The TYPE of home will remain the same. Let us show the difference in prices within an age group. We will change the criteria to include homes built 2004 and later. We have: 142 active listings, and the average and median prices jump somewhat... keep in mind that the $3M listing might just have an effect.... as does the $36,000 one though.
 

 
LIST PRICE:
 
HIGH LOW AVERAGE MEDIAN TOTAL PRICE
$2,950,000
$36,000
$297,572
$229,250
$42,255,339
 

 

By taking the 5 lowest priced homes and the 5 highest priced homes, the average priced home is reduced by about $40,000.

So, let's look at the 3 main school districts of the area and see what happens to the data. We will go back to the original critera of everything and merely use the 3 largest school districts as geographical areas. The school districts will be Lake Hamilton, Hot Springs, and Lakeside.

All 3: There are 480 listings:

LIST PRICE:
 
HIGH LOW AVERAGE MEDIAN TOTAL PRICE
$2,950,000
$17,900
$204,562
$156,450
$98,190,161


Lake Hamilton only: 153 Listings:

HIGH LOW AVERAGE MEDIAN TOTAL PRICE
$859,000
$59,000
$214,008
$179,000
$32,743,229
 

Lakeside only:155 listings:
HIGH LOW AVERAGE MEDIAN TOTAL PRICE
$2,950,000
$45,000
$292,675
$211,000
$45,364,638

 

Hot Springs only: 172 Listings:

HIGH LOW AVERAGE MEDIAN TOTAL PRICE
$475,000
$17,900
$116,757
$99,335
$20,082,294

 

One more change to thoroughly confuse the issue. Let's look at the data countywide for 3/2 homes between 1700 and 2000 square feet. Please keep in mind that if an agent for whatever reason does NOT enter the s/f of the listing, it does not appear...

There are 64 listings in this criteria set:

HIGH LOW AVERAGE MEDIAN TOTAL PRICE
$319,000
$67,500
$155,543
$157,000
$9,954,800

 

So... see how things change? See how a "national headline" does not apply to your situation if you are looking for a Home for sale in the Hot Springs area?

If you have a detailed criteria to look for, let me help. It's what I do, and there is no obligation. I enjoy looking at the data and crunching numbers for folks on the real estate market here. All I ask is that if your researching actually turns to true "shopping", that you would give me a chance to earn your trust. You have nothing to lose and possibly lots to gain.