As stated before, "SOLD" data is just as, if not more important than "Listing price" when you are looking to buy or sell a home. In this post, we will see the SOLD prices of the residential single family homes that SOLD in Garland County during the last 6 months. THEN, we will change the criteria to the same that we were using in the New Years post regarding homes that were active listings.... 6 months sales is very good data to use. 1 year back is ok...but 6 months is much better. Big box sites do NOT have this type of data in their databases. Realtors® do. This is one reason why you should find a Realtor® and begin working with them when you become serious about looking for a home to buy, or thinking about marketing your home for sale.

On to the data!!!       Below is the table of the results, hot off the Multiple listing service: The "Sold Price" is what you need to look at. The $1 is sort of a code for a home that was sold at auction. 393 homes (residential...NOT waterfront) sold in the last 6 months. One thing to note is the "days on market... one poor home showed that it was on the market for over 2300 days!!! Wow. That is not a normal thing.   

 
 TOTAL    HIGH  LOW  AVG  MED
LISTING COUNT:
393
DAYS ON MARKET:
2337
0
142
97
 
LIST PRICE:
SOLD PRICE:
HIGH LOW AVERAGE MEDIAN TOTAL PRICE
$649,900
$1
$147,477
$129,900
$57,958,522
$635,000
$5,000
$140,928
$125,000
$55,384,835

 

So now we change the criteria and look at the 3 school districts like we did on the previous post. The districts used are Lake Hamilton, Hot Springs, and Lakeside, going from West to East. Here's what we get: 347 total sales


 

LIST PRICE:
SOLD PRICE:
HIGH LOW AVERAGE MEDIAN TOTAL PRICE
$649,900
$1
$151,005
$134,900
$52,398,973
$635,000
$5,000
$144,034
$129,000
$49,979,947

 

Again, chainging to countywide, and a 3/2 residential home between 1700 and 2000 square feet, this is what we get:
And I find it very odd that there are only 45 sales in the last 6 months when we are talking over 350 total sales...so I am guessing that 1700 s/f is not in the "average, but probably lower in Hot Springs Homes for sale. Keeping it at 1700 on the smaller end, we have:

 
LIST PRICE:
SOLD PRICE:
HIGH LOW AVERAGE MEDIAN TOTAL PRICE
$319,900
$59,900
$147,781
$135,000
$6,650,187
$296,500
$54,000
$139,664
$133,500
$6,284,899

Once again, this data is not available on the big box sites...you might THINK it is... but it is not. Why is having this data important? 1) asking prices are usually what homes are NOT selling for. You might be looking for a home (or selling a home for that matter) in say, Pine Meadows subdivision. When you look at the "zestimate" or some other "auto-valuation" tool on a big box site, the robot will pull a few "comps"...which are normally NOT comps at all. Here is some info that you might need to know before either making an offer on a home in Pine Meadows, or if you are wanting to market a home in Pine Meadows...
This is what a Realtor® can tell you.... 3 homes sold in the last 6 months, 2 of them were forclosures. Keeping these in the mix, the average $/sf of the home sales was $68.53. Av. sq. footage of those sales was: 1521. Taking the oldest home out of the mix (34 years old), leaves 2 homes, 1999 and 2004 the sold price per sf bumps up to a little over $81/sf.  Data is a good thing...at least accurate data is.