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 Seller's Market.
Key Takeaway
Hot Springs is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Hot Springs, AR
How much do homes in Hot Springs, AR cost?
Median Sold Price
$160,000
$109/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Hot Springs have sold for 32.3% less than they did a month ago.
Summary: The median home sold price in Hot Springs was $160,000 in May 2024, down 32.3% from last month, and the median price per square foot was $109.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $240K | +29.7% |
| 2 Bedrooms | $168K | $82K | -51.2% |
| 3 Bedrooms | $280K | $166.5K | -40.5% |
| 4 Bedrooms | $256.5K | $101.5K | -60.4% |
| 5+ Bedrooms | - | $362.5K | N/A |
Summary: Hot Springs housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes increased by 29.7%, 2 bedroom homes decreased by 51.2%, 3 bedroom homes decreased by 40.5%, 4 bedroom homes decreased by 60.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lake Hamilton Township | $344.7K | $397K | +15.2% |
| Whittington Township | $339K | $345K | +1.8% |
| Hot Springs National Park | $282.5K | $261.5K | -7.4% |
| Hot Springs | $236.5K | $160K | -32.3% |
| Hot Springs Township | $265K | $174K | -34.3% |
Housing Supply in Hot Springs, AR
How many homes are available in Hot Springs, AR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 254 | 263 | +3.5% |
Summary: The Hot Springs real estate market had 263 homes for sale in May 2024, a 3.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 5 | -28.6% |
| 2 Bedrooms | 89 | 99 | +11.2% |
| 3 Bedrooms | 111 | 108 | -2.7% |
| 4 Bedrooms | 33 | 33 | 0.0% |
| 5+ Bedrooms | 14 | 18 | +28.6% |
Summary: The Hot Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes increased by 11.2%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 51 | 42 | -17.6% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
11 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. 58.5% of homes here sold below asking price last month.
Summary: A total of 42 homes were sold or pending in Hot Springs in May 2024, down by 17.6% month-over-month. Of the 41 sold homes, 59% were sold under asking, 15% were sold at asking, and 27% 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.