Early last November, I reported one the "current" homes for sale in our market here. I thought it might be an interesting comparison to what is going on today in the real estate market here in beautiful Hot Springs, Arkansas.
The main text will be a copy/paste from that November blog post, and NEW data will be in red.
From Nov. 7, 2015: From Oct.2,2016
POSTED ON NOVEMBER 7, 2015 - 09:44 AM BY BILL SAUNDERS
Let's look at the Hot Springs / Garland County Arkansas Real Estate Market Statistics as of today, 11-7-2015. today, 10-2-2016 around 10 am
This will include current data from the Hot Springs Board of Realtors® Multiple Listing Service, and will be filtered to include homes for sale and sold in Garland County, Arkansas ( Hot Springs is the County Seat).
LISTED FOR SALE:
Residential Single Family Homes (stick built, NON lakefront)
565 Listings (Range: $9,900- $2,300,000) 519 Listings ($17,000-$1,850,000)
Average Listing Price: $213,415 $218,212
Median Listing Price: $ 160,000 $169,900
Lakefront Single Family Homes (can include mfg./modular)
190 Listings (Range: $80,000- $4,950,000) 207 listings ($80,000-$4,950,000...yes, the same range)
Average Listing Price:$567,065 $606,221
Median Listing Price: $459,450 $460,000
RECENT SOLD INFO:
Data will include CLOSED sales for the last 3 months last 3 months(not currently under contract or pending...ONLY sales that have CLOSED)
Residential Single Family Sales:
197 Sales (Range: $10,000- $1,020,000) 244 sales ($10,000-$990,000)
Average Sold Price: $158,593 $147,204
Median Sold Price: $139,900 $136,087
Average Days on Market**:127 121
Median Days on Market**: 95 83
Longest DOM**: 639 762
----------so, more sales, but selling for less on an average
Lakefront Homes Sold (last 3 months):
56 Sales (Range: $90,000- $1,600,000) 40 sales ($125,000-$1,125,000)
Average Sold Price: $430,123 $423,112
Median Sold Price: $ 364,000 $379,400
Average Days on Mkt**: 149 150
Median Days on Mkt.** : 135 116
Longest DOM** 417 501
** Days on Market is never accurate when dealing with averages, etc. To get a more accurate picture of DOM, you need to look at individual listings in a history. Need to call me for an explanation on this.
As always, there are as many stats for home sales as there are neighborhoods... real estate is a LOCAL thing, and in most cases is hyper-local. Please don't get caught up in the hype of national and regional statistics. Make the call; accurate data is what you need to make a measured decision. As always, I'd be happy to help with your initial searches, and help YOU decide if buying or selling is the right option for YOU, and if it is, I'll be with you every step of the way.