Current Residential Lot Market

Hot Springs Village, Arkansas

April 1, 2009

Today’s market – as indicated by Central Arkansas Multiple Listing Service

There are currently 1,162 lots (up 65 units) on the market with prices ranging from $750 to $329,900. The average number of days on the market is 309. There are 181 lots listed at less than $5,000; 369 lots listed at less than $8,000; 501 lots listed at less than $10,000 and 665 lots listed at less than $15,000. These numbers are up significantly in all four categories.

There are 65 lake-front and lake view lots (up 1 unit) with an average asking price of $105,398 (down 0.4%)
200 golf course frontage lots (up 22 units) with an average asking price of $42,675 (down about 0.3%)
105 mountain-view lots with an average asking price of $35,470 (down 0.3%)
812 interior wooded lots with a median asking price of $9,000 (down 5.3%).

Lots sold and closed from February 1, 2009 through March 31, 2009

There were 18 lots sold (unchanged) in this time period ranging in sales price from $2,500 to $95,000 and a median sold price of $12,250. The average number of days on the market before being sold was 180.

There was 2 lake lots sold in the last 60 days with an average sales price of $81,250
4 golf course frontage lots sold with a average sold price of $35,250
no mountain view lots sold
12 interior wooded lots sold with an average sold price of $9,250.

Lots sold and closed from February 1, 2008 through March 31, 2008

There were 33 lots sold in this time period ranging in sale price from $1,250 to $115,000 and a median sold price of $7,800. The average number of days on the market before being sold was 191.