Well, the market seems to be heating up somewhat, at least in my little corner. The unthinkable happened this weekend. One of my listings that had been on the market for 6 days had 3 showings and three offers!!! Now the work starts of keeping timetables up on various contingencies in the contract and such... and you guys just thought all we did was put a sign in the yard. BIG credit goes to an amazing team of sellers, in that they kept the property picture perfect, well staged and priced compellingly!!!! But that's not the thrust of this post....
Market snapshot for today!! As always, this is going to be reporting on the Hot Springs Board of Realtors® Multilist's offerings in Garland County for homes for sale currently, and I am now including contingent homes, as their data, I beleive is appropriate to include. I do not include contingent properties in a property search for people, but for the purposes of this report, The data is good.
Residential Single Family Homes:
There are 540 current listings for non-lakefront Hot Springs homes for sale. They range in asking price from $1,600,000 to $19,000, with an average price of $206,328 and a median price of $165,000, indicating that there are more homes priced below the average $$ than above it.
New data set!!!: SOLD residential in the last month. In the last month, 68 Hot Springs Homes sold, with an average selling price of about $145,000 and median selling price of around $135,000. Average days on the market in these sales was showing as 129. Looking at asking price total vs. selling price total, Homes sold at about 95% of asking price.
Now on to the LAKE!!!
Lakefront single family home data.... thisalso includes manufactured homes that are located on lake frontage.
Currently listed Lakefront Hot Springs Homes for Sale:
Currently there are 204 active and active/contingent listings on the MLS®, ranging from a whopping $3.975M estate to a modest $89,500 cottage (see how data can screw up a good thing???) which gives us an average Lakefront listing value of $557,914 and a median of $425,000...note that gap???
Loking at sold info for Lakefront Hot Springs Homes for sale, there were 13 that closed in the last 30 days, Average selling price was$537,384 and the median was $381,000. Again, note that gap. Average days on market was 241, indicating to me that lakefront owners might not be as motivated to get rid of that beautiful view!!!
Comparing the total sales $$ asking/selling price, we get 92.5% of asking price.
Enjoy the confusion!!! Holler at me if you need me to customize a report for your particular needs in our real estate market.