Comparison of data is essential for an informed decision, isn't it? Moreover, the data compared must be "apples to apples" data in order to have any validity. I am endeavoring to give you that, but unfortunately, I realized the apples to apples thing a bit late in the game. There's a difference in an "active" listing, and one that is "active-contingent". The active-contingent listings have a signed contract/offer and are hopefully going to the closing table. I honestly cannot remember if I included contingent listings in my earlier reports or not, but I take them out now. The next dataset will include information on the current inventory of condominiums in Garland County (Hot Springs), Arkansas for right now, September 5, 2013 (There is older data below for comparison)
Currently, there are 267 Condominiums for sale in the Hot Springs area (Garland County only). This includes BOTH Residential areas and Waterfront. The average Price of a condo currently is $198,202 with a range in price from $29,500-$895,000. The median price is $169,000.
Separating Residential and Waterfront...
There are currently 63 residential condos (non-waterfront) actively on the market today, ranging in price from $29,500 to $640,000 with an average price of $141,042 and a median price of $94,900.
Concerning Waterfront Condominiums, there are currently 204 Waterfront condos on the market actively listed. Keep in mind, Hot Springs is a resort community. Also keep in mind that a "waterfront" condo can be a few buildings BACK from the lake. The average price of these offerings is $215,855 in a range from $68,000 to $895,000 and a median price of $189,900.
Now, we can compare to the dataset from April to see how the "Inventory" is fairing. Sadly, I cannot remember if I included the contingent listings in the April set, but even so, it will give us a decent idea. In April....
Filtering the data on Hot Springs Condos for sale into the 2 groups:
Residential Condominiums for sale in Hot Springs , Garland County Arkansas show 54 (63 today) active listings, ranging from $49,900 ($29,500 today) to $699,000 (640k today). The average asking price for a residential Condominium in the Hot Springs market today is $133,246 ($141,042 today) with a median price of $89,700 ($94,900 today).
Waterfront Condominiums for sale in Hot Springs, Garland County Arkansas show 185 (204 today) active listings, ranging from $77,900 ($68 k today) to $849,900 ($895k today). The Average asking price for a waterfront condominium in Hot Springs, Garland County Arkansas today is $217,121 (215,855 today) with a median price of $189,000 (189,900 today).
So, do you think that this is headline news??? Not so much ;).