Market Update on Garland County Residential Sales

the Kennedy Crew ~ — Fri, 09 Sep 2011 02:17:00 GMT

In comparing the residential sales reports for Garland County, it appears that residential sales in Garland County for the first eight months of the year is down as compared to the same period last year. The first quarter of 2011 started out holding steady and appeared to be a mirror image of the same period in 2010. However, the second quarter of 2011 was the down period – whereas we did not see the spike in sales in our area as we normally do with vacation home sales in the summer months. May and June of this year limped along in summer sales, then we had a nice spike in July with an increase in the number of units sold up 24% over June, however it wasn’t enough to increase our year-to-date figures.

Take a look at the below statistics on residential sales in Hot Springs (information obtained from the Hot Springs Board of Realtors®mls). Click here for more detailed information on the Hot Springs market.

Average Days on Market

1/1/10 – 8/31/10: 172

1/1/11 – 8/31/11: 160

Number of Listings Sold

1/1/10 – 8/31/10: 863

1/1/11 – 8/31/11: 832

Average Price of Sold Listings

1/1/10 – 8/31/10: $150,863

1/1/11 – 8/31/11: $148,988

MLS Sold Volume

1/1/10 – 8/31/10: $130,195,229

1/1/11 – 8/31/11: $123,958,794

While this is one of the toughest markets we have seen, our team is still getting the job done. Did you know that the Kennedy Team is currently ranked as the number ONE listing team in sales for 2011? In addition, the Kennedy Team is holding the number ONE position for total residential sales for the combined 4 year (2008 – Aug 2011) recession in our area, selling more than any other Real Estate Agent or Team in Garland County during one of the toughest markets in recent history. While many might say “Gosh, I bet you really took advantage of the foreclosure market with those sales” … It’s not at all true! In fact, very few of those sales were foreclosures – as the Kennedy Team has never sold a “short-sale” and does not specialize in foreclosures.

If you are thinking about selling a home in the Hot Springs area, or know someone interested in selling, we would be glad to help! Please feel free to give us a call anytime 501.655.6247.

Hot Springs Market Update from the Kennedy Team

the Kennedy Crew ~ — Wed, 06 Oct 2010 02:26:00 GMT

Thought you might be interested in the latest real estate market update, so we would like to share the latest news.

While September is generally the month that we start to see fewer buyers as we face the fall and winter seasons in our market, this September has been a little different this year and sales are holding steady.

Below is an overview as compared to the peak summer season (according to our local mls):

Jun Home Sales: 93

Jul Home Sales: 68
Aug Home Sales: 92
Sep Home Sales: 91

While home sales are holding steady, the better news is that the inventory is dropping – creating less competition for our sellers! Here’s an overview of the inventory (according to our local mls):

Jun 30 Homes on the Market: 1476
Jul 30 Homes on the Market: 1485
Aug 30 Homes on the Market: 1431
Sep 30 Homes on the Market: 1368

For a more detailed report of last month’s activity, please click here.

Another good indication of the buyer activity is the number of web site hits we receive, and again, September was awesome! We received 110,972 hits to our primary website –www.BestofHotSprings.com for the month of September, while we averaged 87,000 hits during the summer months.

Along with the above statistics, the Kennedy Team is also pleased to mention that in spite of this tougher economic state - our team is working hard, performing well, and holding the #4 position in residential sales in our area with $6,365,700 in closed transactions as of this month. So if you or someone you know is thinking about selling a home, we would be happy to help.

We’ll continue to keep you updated on the latest news, and please feel free to call or email us with any thoughts or questions.

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Market Update on Garland County Residential Sales

Hot Springs Market Update from the Kennedy Team