Third Quarter Sales; Recovery Continues
Buyer interest is still high and we are experiencing a continuance of the strong fall market.
Inventory continues to drop and as excitement builds in seeing ongoing relief in the market recovery; the inventory of accurately priced homes is in even greater demand.
Residential building permits in Camden County made a huge jump to 70 so far this year from 32 in 2014. Information is based on reports from Camden County with data available thru September 30, 2015.
Total 3rd quarter sales this year stand at 2,042. This is approximately 9% over the last year at the same time, 2014 total sales were 1,870. However, we show a healthy increase of 25% over 3 years ago in 2012 when total sales where at 1,633. Recovery is looking better every year.
Sales Activity has steadily increased over the last four years in Residential Lakefront, Condominium’s & Homes over a Million. Residential lakefront & offshore homes rose 9% over 2014 and Condominiums rose 12%. This year 44 waterfront lots have sold, about the same as 2014 but the dollar amount almost doubled – higher end lots are selling. 136 Offshore lots have sold this year so far, 17% more than 2014’s 3rd quarter sales of 116. Farm sales went up this year by 42% with total sales so far at 17 whereas 2014 saw sales of just 12.
Commercial movement continues to increase. Some current construction in the works includes the planning of a new waterfront hotel and event space near the KK & Business 54 Intersection, a much needed potential revenue for the Westside Osage Beach economy including up to 300 possible jobs. 55 commercial sales have closed so far this year with an additional 10 properties under contract. This is an increase of 16% over 2014 and a huge 150% increase over 2012 commercial sales.
This year the luxury home market continues to grow with 19 homes priced over a million sold and 5 under contract so far in 2015, the same amount sold last year at this time but the selling dollar volume was 14% higher this year. In 2012 only 6 lakefront homes were sold over the $1 million mark and 14 sold in 2013, a huge 156% increase. 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, 2012 through September 30th, 2015.
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 $1 million plus homes at www.LakeMansions.com You can also view each months’ article, ask questions and offer your opinion on Michael’s real estate blog, www.AsTheLakeChurns.com