July Lake of the Ozarks Real Estate Update

This month I’m going to review a breakdown of the property sales so far this year.  This will include property types as well as location.  Obviously within any given property type there are still a lot of variables so if you have questions on how a specific property fits in the whole scheme of things as far as what is selling, please contact me with the details.

Through June 15, 2014 there have been 934 properties sold via the Bagnell Dam/Lake of the Ozarks MLS system.  62.8% Homes, 22.6% Condos, 11.1% Lots/Vacant Land, 13.3% Commercial,.  As you can see, 85.5% of sales were residential dwellings.

The home sales breakdown is as follows:  43.1% lakefront homes, 13.4% lakeview and/or lakeaccess homes, 39.8% offwater homes and 3.5% Villas. 

Lots & Vacant Land Sales:  25% lakefront lots, 15.3% lakeview and/or lakeaccess, 59.6% offwater lots.  In reviewing the offwater lot sales; the majority of these were acreages ranging from 5-80 acres but sales also included small building lots, 14.5% were golf course lots and one larger tract with 205 acres sold at $229,250 and had a couple of cabins, ponds and was a hunting retreat.

Condo sales were concentrated in the Lake Ozark (includes Horseshoe Bend/Four Seasons and some Northshore), Osage Beach and Camdenton areas totaled 89.5% of the market.  With Lake Ozark and Osage Beach each accounting for 33.1%  of total condo sales and Camdenton with 23.2% of sales.

In general, I saw a slow down in activity in May and the beginning of June.  The middle of June, I am seeing more activity primarily in the lower price condo range.  Sellers and buyers are beginning to come together better in negotiations.  Some are still on opposite poles with sellers holding out based on prior values and buyers are still looking at the decrease in the market and trying to make a deal.   In general, I see more educated buyers and sellers in regards to the market values and I feel that I and my fellow Realtors are doing a good job of taking the time to help them see the true picture.

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  cme@yourlake.com  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