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Market Update on Garland County Residential Sales

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.

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