The real estate business for 2011 in Hot Springs looked very similar to 2010.   Based on MLS data taken from the Hot Springs Board of Realtors,  2011 residential home sales were fairly flat with 2010 numbers.  Overall, sales were off about 2%.  The waterfront condo segment had the biggest drop, off about 20%.  Single-family homes were about even with last year.  Waterfront home sales were up slightly.

                                        Units Sold             Total Sales         Avg Sales Price

All  Homes/Condos

LYTD                                     1131                          $187m              $165,378

YTD                                       1109                         $183m              $164,977

Non-Lake Homes

LYTD                                      887                         $116.5m               $131,384

YTD                                       886                         $115.7m               $130,645

Lake Homes

LYTD                                      128                         $48m                 $373,825

YTD                                        135                          $49.4m             $366,021

Lake Condos

LYTD                                     116                        $22.6m               $195,304

YTD                                       88                          $18m                 $202,226

After a weak September, the market picked up in October.  Based on figures from the Hot Springs Board of Realtors, MLS sales of residential homes were 15% higher versus the same period last year.  Low interest rates and an ample supply of inventory fueled the growth.  We are still below our year-to-date numbers so far this year, but have closed the gap a little.  Below are the YTD numbers.

                                     Units Sold             Total Sales         Avg Sales Price

All  Homes/Condos

LYTD                                     956                          $157.6m              $164,863

YTD                                       925                         $148.1m              $160,129

Non-Lake Homes

LYTD                                      745                         $98.1m               $131,599

YTD                                        736                         $93.6m               $127,204

Lake Homes

LYTD                                      112                         $40.9m                 $365,307

YTD                                        107                          $37.6m               $351,599

Lake Condos

LYTD                                     99                         $18.7m                   $188,418

YTD                                       82                          $16.9m                   $205,856

Residential home sales for the month September did not keep pace with last September.  According to the Hot Springs Board of Realtors MLS figures September sales were off over 26% vs the same month last year.  We are now tracking about 8% below last years sales as of September 30, 2011.  Below is how the numbers break down.

                                              Units Sold             Total Sales         Avg Sales Price

All  Homes/Condos

LYTD                                     883                          $145.1m               $164,385

YTD                                       843                          $133.3m              $158,103

Non-Lake Homes

LYTD                                      690                         $91.9m               $133,150

YTD                                        675                          $85.8m               $127,061

Lake Homes

LYTD                                      102                         $36m                 $352,852

YTD                                         93                          $31.8m               $341,579

Lake Condos

LYTD                                     91                         $17.3m                   $190,071

YTD                                       75                          $15.7m                   $209,969

Residential homes sales in August were down slightly versus the same month last year.  More units were sold, however, the total sales volume was down about 6%.  Through August 2011 overall residential home sales are tracking about 6% below last years sales volume.  Below is how sales breakdown YTD according to the Hot Springs MLS.

                                          Units Sold             Total Sales         Avg Sales Price

All  Homes/Condos

LYTD                                     774                          $126.5m               $163,106

YTD                                       755                          $118.6m             $157,046

Non-Lake Homes

LYTD                                      608                         $80.7m               $132,673

YTD                                        609                        $77m                   $126,523

Lake Homes

LYTD                                       85                         $33.2m                 $356,514

YTD                                        78                          $27m                    $346,844

Lake Condos

LYTD                                     81                         $15.2m                   $188,541

YTD                                      68                          $14.5m                   $212,701

We are halfway thru the year 2011.  It ‘s been an interesting 6 months.  We felt like we had some momentum coming out of 2010.   Residential sales were up slightly last year versus 2009.   However,  we started the year off slow and have not caught up with last year’s sales.  Residential sales based on the Hot Springs Board of Realtors MLS are down 11% year-to-date vs last year. 

These numbers do not reflect most of the bank auctions on lake condos the past year.

Here is how the sales break down:

                                            Units Sold             Total Sales         Avg Sales Price

 All  Homes/Condos

LYTD                                     585                          $93.5m               $159,996

YTD                                       542                          $81.8m             $150,973

Non-Lake Homes

LYTD                                    470                           $61.9m               $131,726

YTD                                       445                          $54.5m               $122,432

Lake Homes

LYTD                                     57                         $20.7m                 $364,098

YTD                                       41                          $13.6m               $342,905

Lake Condos

LYTD                                   58                         $10.9m                   $188,165          

YTD                                     48                          $10.5m                 $219,645

 

 

 

 

 

Posted in Uncategorized

« Your May Real Estate Update

 

It appears some of the negative sentiment in the overall economy is having an effect on real estate sales.  As we have seen in the news real estate sales have been slowing some what nationally.  If May is any indication Hot Springs is not immune.  MLS sales were off 28% for May vs. May of 2010.  Part of the reason is the expiration of the first-time buyers tax credit last year.  However, the overall numbers were lower this May than they have been in many years.  That’s put us a little behind the sales pace last year.

                                     Units Sold             Total Sales         Avg Sales Price

 All  Homes/Condos

LYTD                                     473                          $73m               $154,292

YTD                                       421                          $64.6m             $153,474

Non-Lake Homes

LYTD                                    381                           $48.5m               $127,446

YTD                                       340                          $42.2m               $124,324

Lake Homes

LYTD                                     45                         $15.8m                 $352,955

YTD                                       41                          $13.6m               $332,008

Lake Condos

LYTD                                   47                         $8.5m                   $181,709          

YTD                                     40                          $8.7m                 $218,250

 

 

 

 

The residential real estate sales showed nice improvement in April.  This typically is a good sales volume month.  This April was no different, however, we failed to keep pace with sales versus a year ago.  Last year the tax incentives for first-time homebuyers were expiring so last April was pretty busy with buyers pushing to beat the deadline.  Overall year-to-date sales are slightly off last years pace. 

                                         Units Sold             Total Sales         Avg Sales Price

 All  Homes/Condos

LYTD                                     351                          $54m               $153,817

YTD                                       327                          $50m                 $153,266

Non-Lake Homes

LYTD                                    288                           $36.7m                  $127,412

YTD                                       263                          $32.5m                  $123,625

Lake Homes

LYTD                                     30                         $11m                    $365,836

YTD                                       34                          $11.1m                 $326,000

Lake Condos

LYTD                                   33                         $6.3m                   $191,520           

YTD                                     30                          $6.5m                   $217,336

 

 

                   As the weather improved in March so did the real estate business.     It was nice to see the pick up in business.  We are cautiously optimistic  the business will trend in about the way it did last year.   Below are the sales numbers for the 1st quarter this year vs last year.  As you will notice overall sales are tracking a little below last year.  The first-time buyer tax credit helped with the 1st quarter numbers last year.

                                         Units Sold             Total Sales         Avg Sales Price

 All  Homes/Condos

LYTD                                     231                          $33.1m               $143,423

YTD                                       214                          $32.8m                 $153,500

Non-Lake Homes

LYTD                                    191                           $22.2m                  $116,144

YTD                                       179                          $23.4m                  $130,753

Lake Homes

LYTD                                     20                         $6.9m                    $349,255

YTD                                        18                          $5.5m                   $305,277

Lake Condos

LYTD                                20                         $3.9m                   $198,105           

YTD                                  17                          $3.9m                   $232,852

         This year started off about the same as last year.  There was a very noticeable slow down with the bad weather.  However, once the weather improved business really seemed to pick up.  We feel if the economy continues to improve our local housing market will improve with it.   Prices appear to be stable, although we have seen an increase in foreclosures and short sale listings over the past few months.  Now is a wonderful time to invest in real estate whether as a primary residence or an investment property.

                                Units Sold             Total Sales           Avg Sales Price

 All  Homes/Condos

LYTD                                    135                          $17m                   $126,387

YTD                                       128                          $19m                  $148,182

Non-Lake Homes

LYTD                                    119                           $13.6m                     $114,519

YTD                                       110                          $14.2m                     $128,735

Lake Homes

LYTD                                     9                           $2m                        $231,222

YTD                                        10                        $3m                        $297,500

Lake Condos

LYTD                                 7                         $1.35m                   $193,357             

YTD                                   3                          $1.83m                  $191.250

January is usually the slowest real estate sales month of the year.   You just don’t have that many people shopping for housing before the holidays.  This January was no different.   There were a total of 4 more residential units sold this January vs. last January.  The average price was way up, however that is not a reflection of the market.  There just happened to be many low-priced homes that were sold last January.

Over the past couple of weeks the weather has really hampered the real estate business.  Showings are down, however that should improve once we get the wintry weather behind us. 

                               Units Sold             Total Sales           Avg Sales Price

 All  Homes/Condos

LYTD                                     60                           $7.8m                   $129,641

YTD                                       64                          $10.2m                     $159,148

Non-Lake Homes

LYTD                                    50                           $5.5m                     $109,500

YTD                                       56                          $8.16m                         $145,768

Lake Homes

LYTD                                     7                           $1.76m                      $252,000

YTD                                        5                           $1.47m                     $293,500

Lake Condos

LYTD                                 3                         $539k                   $179,833              

YTD                                   3                          $535K                      $185,000