Is Hot Springs, AR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Hot Springs was a Neutral Market.
Key Takeaway
Hot Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hot Springs, AR
How much do homes in Hot Springs, AR cost?
Median Sold Price
$224,000
$142/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Hot Springs have sold for 2.5% more than they did a month ago.
Summary: The median home sold price in Hot Springs was $224,000 in April 2024, up 2.5% from last month, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $132.5K | $185K | +39.6% |
| 2 Bedrooms | $205K | $168K | -18.0% |
| 3 Bedrooms | $224.2K | $280K | +24.9% |
| 4 Bedrooms | $479.9K | $298K | -37.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: Hot Springs housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes increased by 39.6%, 2 bedroom homes decreased by 18%, 3 bedroom homes increased by 24.9%, 4 bedroom homes decreased by 37.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lake Hamilton Township | $289.5K | $352.5K | +21.8% |
| Hot Springs National Park | $262.5K | $285K | +8.6% |
| Hot Springs Township | $235K | $249.5K | +6.2% |
| Hot Springs | $218.5K | $224K | +2.5% |
| Whittington Township | $370K | $344K | -7.0% |
Housing Supply in Hot Springs, AR
How many homes are available in Hot Springs, AR?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 237 | 260 | +9.7% |
Summary: The Hot Springs real estate market had 260 homes for sale in April 2024, a 9.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 85 | 90 | +5.9% |
| 3 Bedrooms | 98 | 113 | +15.3% |
| 4 Bedrooms | 33 | 34 | +3.0% |
| 5+ Bedrooms | 14 | 16 | +14.3% |
Summary: The Hot Springs housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 15.3%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 53 | +51.4% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hot Springs, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.
Summary: A total of 53 homes were sold or pending in Hot Springs in April 2024, up by 51.4% month-over-month. Of the 48 sold homes, 69% were sold under asking, 21% were sold at asking, and 10% were sold over asking.
Days on Market for Hot Springs, AR
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Cooperative Arkansas REALTORS® Multiple Listing Services, Inc. Real estate listings, held by brokerage firms other than this broker, are marked with the Broker Reciprocity℠ logo and information about them includes the name of the listing brokers. The IDX information is provided exclusively for consumers’ personal, non-commercial use that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by the MLS. Copyright© 2024 Cooperative Arkansas Realtors MLS. All Rights Reserved.