Current Residential Lot Market

Hot Springs Village, Arkansas

February 2, 2009

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

• There are currently 1123 lots (down 22 units) on the market with prices ranging from $1,000 to $329,900. The average number of days on the market is 312. There are 321 lots listed at less than $8,000; 465 lots listed at less than $10,000 and 648 lots listed at less than $15,000.

• There are 67 lake-front and lake view lots with an average asking price of $97,553 (up 2.9%)
• 185 golf course frontage lots (down slightly) with an average asking price of $44,025 (down about 10.4%)
• 104 mountain-view lots with an average asking price of $31,964 (down 4.3%)
• 785 interior wooded lots with a median asking price of $9,500 (down about 6%).

Lots sold and closed from December 1, 2008 through January 31, 2009

• There were 14 lots sold (down 5 units) in this time period ranging in sales price from $1,700 to $81,000 and a median sold price of $13,750. The average number of days on the market before being sold was 230.

• There was 2 lake lots sold in the last 60 days with a sales price of $68,500
• 1 golf course frontage lots sold with a sold price of $18,500
• 1 mountain view lots sold with an average sold price of $80,000
• 9 interior wooded lots sold with an average sold price of $10,105.

Lots sold and closed from December 1, 2007 through January 31, 2008

• There were 50 lots sold in this time period ranging in saless price from $2,550 to $97,000 and a median sold price of $11,000. The average number of days on the market before being sold was 186.

• There were 4 lake lots sold with an average sold price of $85,500
• 6 golf course frontage lots sold with an average sold price of $52,650
• 6 mountain view lots sold with an average sold price of $29,616
• 35 interior wooded lots sold with an average sold price of $10,556.