Sales Activity has increased over the Summer season after a lull in the Spring market. Many reports have attributed it to the severe weather we experienced. Based on the fact that I worked successfully with several clients during the worst of the weather and that the downtrend was nationwide regardless of location, I have a hard time blaming it on climate conditions. I personally feel many buyers and sellers were hesitant to move forward due to the unrest felt in the country and unknown future outcome of various legislation. Whether your opinions are pro or con on the laws enacted, it has affected our marketplace.
Total sales this year stand at 1559. This is slightly below last year at this time, 2013 total sales were 1592. However it is a healthy increase of 36.3% over 5 years ago in 2010.
Commercial movement is increasing. Some current construction includes the new hotel and conference center at Old Kinderhook and excavation is in process at Eagles Landing in Lake Ozark. There is much speculation about what new business will be located there. 42 commercial sales have closed so far this year with an additional 17 properties under contract. This is huge increase of 162.5% over 2010.
Residential building permits in Camden County have steadily climbed from 15 in 2011 to 32 this year. Information is based on reports from Camden County with data available from January 1, 2011 thru July 22, 2013.
The luxury home market is seeing some relief. In 2010 only 6 lakefront homes were sold over the $1 million mark. This year 15 homes priced over $1 million have closed to date with another 4 currently under contract. If you would like to view homes that are available at $1 million and up, you can visit my website at www.LakeMansions.com
Sales data was obtained from the Bagnell Dam and Lake of the Ozarks Board of Realtors MLS from January 1, 2010 through August 25, 2013.
Michael has been selling real estate at the Lake of the Ozarks since 1981. He is one of the most respected brokers in the area. If you would like to work with Michael in the sale or purchase of property, contact him at 573.365.SOLD or firstname.lastname@example.org View thousands of lake area listings at www.YourLake.com. You can also view each months’ article, ask questions and offer your opinion on Michael’s real estate blog, www.AsTheLakeChurns.com