This report covers the current activities against the same timeframe last year. In this case, November of 2022 against November of 2023. It also reflects the 2022, 2021, 2020 & 2019 annual results. I also break down sales for single-family properties by county and provide some additional granular data based on the current month.

Hot Springs Village

Single Family properties closed in November 2023

  • 38 closed in November – 506 for YTD 2023
  • Available for sale = 89 (As of Dec. 5, 2023)
  • Average selling price – $368,946
  • Median selling price – $292,250
  • Average selling price per square foot – $156.79
  • Average days on the market – 42
  • Under Contract – 26
  • Taking Backup Offers – 21

One (1) of the homes that closed in November 2023 was a new build, making the total closings for 2023 at 60. The selling price of this home was $455,000 or $196.71 per square foot.

There are 16 new builds in the current MLS inventory of homes available for sale.

Single Family properties closed in November 2022

  • 38 closed – 581 for YTD 2022
  • Average selling price – $327,919
  • Median selling price – $305,000
  • Average price per square foot – $158.07
  • Average days on the market -13

On a YTD 2023 basis, 466 single-family homes have closed, compared to 543 that closed in 2022. Of the 466, 224 were closed in Saline County at an average selling price of $433,128 or $175.25 PSF. Two hundred forty-two (242) have closed in Garland County at an average selling price of $272,599 or $139.87 PSF.

State of HSV Market

1) On a YTD 2023 basis, we have closed 75 fewer single-family homes and 12 fewer townhomes, which results in total closings being down 87 properties year-over-year.
2) The current selling price to the listing price is 95.4%, further indicating that the escalation in selling prices we experienced are, for the time being, a thing of the past.
3) 60.5% of all closed properties were cash transactions in November 2023.

NOTE: Keep in mind that these numbers only include transactions that have gone through the MLS and, as such, will not include those where lot owners have contracted directly with a builder, or someone has sold FSBO.

Condos/Townhome Sales

Five (5) townhomes were closed in November 2023 at an average selling price of $203,300 or $148.71 psf. As noted above, year-over-year, townhome sales are down 12 properties.

Lot Sales

In November 2023, there were 12 lots closed through the MLS.

The overall inventory of available MLS lots is now 478 (up 15 from last month), whereas last year, at this time, it was 619. The good news is that we have closed 25 more lots than were closed in YTD 2022. This does not include the 5,474 lots that are owned by the POA. There are also another 6,200 that are in the Delinquent/Unproductive category, which is down 71 from last month.

Information provided comes directly from the MLS (Cooperative Arkansas Realtors MLS – CARMLS) and contains only information from within the Village boundaries. Other sources may be providing their statistics based on zip code, and most of them also contain lot and townhome information, which this report breaks out as their own categories. It is also worth noting that these numbers are provided several days after the month has closed, which may result in differences down the road due to data not having been updated timely by the real estate community. This report is effective with data available 9/3/2023.

Arkansas Real Estate Market*

  • According to Redfin, home prices in Arkansas were up 3.2% year-over-year in October. At the same time, the number of homes sold fell by 7.7%, and the number of homes for sale rose by 9.7%.
  • The median sales price in Arkansas is $245,200 compared to HSV’s median of $292,250.
  • In October 2023, 18.1% of homes in Arkansas sold above list price, down 4.5 points year over year. There were only 24.8% of homes that had price drops, up from 19.0% of homes in October last year. There was a 97.3% sale-to-list price, down 0.34 points year over year. HSV number is 95.4%, listing to sales price.
  • 2023 is considered by many to be a balanced year for housing supply and demand. This is ideal for purchasers and rental property investors. We are no longer a “seller’s” market but more of a balanced market.

National Real Estate Market*

  • Home prices nationwide were up 3.4% year-over-year in October. At the same time, the number of homes sold fell 8.6% and the number of homes for sale fell 9.98%.
  • The direction and pace at which home prices are changing are indicators of the strength of the housing market and whether homes are becoming more or less affordable. The median price of a home in the United States is currently $413,504.
  • National Median Sales Price – $413,504 in September of 2023 vs current HSV of $292,250.

*Data on an AR and National basis tend to lag by one month, whereas data regarding HSV is available through the end of the current month.

Feel free to reach out to me at if I can answer any questions for you. For disclosure purposes, I am a Realtor® and the numbers reported here come directly from the MLS.

By Lloyd Sherman, Associate Broker, Trademark HSV Real Estate

Lloyd Sherman

Author & Real Estate Agent