November Lake of the Ozarks Real Estate Update

         Year to Date Market Comparison

      Lake of the Ozarks’ year to date home and condo market data indicates a mostly positive outlook as we head toward 2017.  On a year-over-year basis, waterfront homes sales declined while non-waterfront home sales and condo sales both increased.  Average home sales prices were up and average condo sales prices were slightly down.

      Waterfront, single-family home sales year to date totaled 603, down 7.2 percent from October 2015.  The average sales price climbed 6.5 percent to $328,427, the 2^nd highest in 5 years with 2013 the highest at $388,224. Days on Market (DOM), or the number of days it took the average home to sell, tightened to143 days versus 152 last year.
     Broken out by home location, Year to Date Waterfront Home sales performed as follows:

      Totals for all 2016 home and condo sales show an increase of 2 percent in units sold with the average sales price remaining steady at less than 1 percent increase over 2015.

      I have also compiled data for non-waterfront home sales.  Total non-waterfront home sales were 734; up 8.1 percent over 2015.  The average sales price rose 4.2 percent to $132,899.

      Data for condominium sales shows an increase of 5.3 percent with 608 units selling year to date versus 577 a year earlier. The average price fell 2.6 percent to $155,715.  

         I anticipate the 2016 housing market to finish out overall with moderate but solid growth. I foresee the 2017 market looking very similar to the current year.

     Lake area sales data has been obtained from the Lake of the Ozarks MLS based on all property type sales over the time frame from January 1, 2015 to October 24, 2016 and all other times represented in the data.

    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 cme@yourlake.com  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