Your Hot Springs Real Estate Blog

Your January Real Estate Update

Rob — Thu, 12 Jan 2012 15:49:51 +0000

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

Your November Real Estate Update

Rob — Fri, 11 Nov 2011 16:39:18 +0000

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

Your October Real Estate Update

Rob — Tue, 11 Oct 2011 16:17:54 +0000

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

Your September Real Estate Update

Rob — Fri, 09 Sep 2011 15:32:26 +0000

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

Your July Real Estate Update

Rob — Mon, 11 Jul 2011 15:40:53 +0000

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

Your June Real Estate Update

Rob — Sun, 12 Jun 2011 13:41:56 +0000

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

Your May Real Estate Update

Rob — Thu, 12 May 2011 20:14:24 +0000

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

Your April Real Estate Update

Rob — Tue, 12 Apr 2011 19:01:32 +0000

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

Your March Real Estate Update

Rob — Thu, 10 Mar 2011 17:41:09 +0000

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

Your February Real Estate Update

Rob — Thu, 10 Feb 2011 20:07:03 +0000

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