Happy Monday!!! Uh huh...
Here is your snapshot from the Hot Springs Board of Realtors® multiple listing data for today 7-28-2014.
The following data set will include Residential Single family Homes currently active in Garland County, Arkansas. Hot Springs is located in Garland County.
Residential single family homes are stick built homes (not manufactured or modular), and not located on lakefront. It will also not contain condos (most national averages will contain condos...this does not. If you are interested in Condo stats and information, feel free to contact me... there is never an obligation for a free consult)
Today, there are 664 active listings This also includes homes that are contingent). The average price of a home for sale in Hot Springs is $197,500, and the median price is $159,900.
Taking out the Hot Springs homes that are active/contingent, There are 596 listings, $200,439 being the average price and $161,525, indicationg that less expensive homes are selling... this would drive the median price upward, and by removing less expensive homes from the pool, drive up the average price as well. Let's see, shall we??
Now if we ONLY look at Active/contingent homes, those that have an accepted contract but there is a contingency that must be met to move towards closing...we have 68 properties, average being $171,741 and median of $153,700. There was one $500,000 put under contract. had that not been in the mix, the average price would have been less.
This is a restricted data set on purpose. Normal buyers and seller HAVE a restricted data set... even far more restricted that this, but this is something to go on about our very LOCAL real estate market picture today.