Hot Springs Village People

Working Together to Improve Our Village Because HSV Matters

Real Estate Market Watchdog – September ’19

By Lloyd Sherman, October 1, 2019

Single Family Residences

The real estate market within the gates of Hot Springs Village remains robust through September 30, 2019, as compared to results for the same time period of 2018. Inventory of houses for sale remains low while both the average selling price and average per square foot cost track ahead of 2018 results. 

Lloyd Sherman, Hot Springs Village Real Estate Market Watchdog

In addition to the various deciding factors why people select HSV as their home, one significant reason is most likely the low cost of living. Our current average selling price of $212,371 and $96.33 per square foot compares very favorably to the national average of $313,000 and $175 per square foot. When working with clients from other locations, it is not unusual for them to be amazed at how much more house they can afford in HSV than elsewhere.

I also often hear from residents that they are considering a move before values of their houses decline. Based on the continuing favorable results we get month after month, I would like to suggest that the numbers DO NOT reflect those concerns. 

Condos/Townhomes

This sector of the market is performing extremely well in particular against 2018 results. Inventory remains low and both average selling price and price per square foot are substantially ahead of last year’s results.  

Lots

Lot sales for 2019 are running slightly behind 2018, however, there are 13 properties in the closing process, so this number will likely normalize within the next couple of months. Keep in mind these are results from the MLS and do not include or track information relative to POA owned lots. 

Attached is this month’s report and feel free to share with those you feel would be interested.  (See the pdf below.)

Comparison – Village Property Activities for 9 months of 2018 vs 9 months of 2019

First-Nine-Months-Comp-2019-2-Sheet1

By Lloyd Sherman, October 1, 2019

Clean PNG website link

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