Lakefront
Home and Condo Sales
During the first 8 months of this year, the number of
lakefront home sales increased by by15.7% compared to 2014 and 2013. The average sales price increased 3.6% this
year over 2014 however 2013’s average sales price was 2.1% higher than
2015. The median sales prices remained
about the same in homes priced under $500,000 with the $500,000 and up market
showing increases however the higher price range showed a decrease of about 50%
in the number of sales. I have been seeing
a great deal of activity in the upper end market homes under contract and I
think we will see some “catching up” in the upper price range over the next
30-60 days.
Condo Sales increased by 27.4% in 2015 with a total of
446 sales. The average sales price was
down 3% over last year but showed a 1.4% increase in price over 2013 as well as
an 18.9% increase in the number of units sold in 2013.
The overall market is seeing a nice, steady
increase. The Fall market indicators
look good. I am also seeing an increase
in lot sales and interest in building.
There are a large number of buyers who are already second homeowners
looking to either build a new home or purchase a larger home as well as buyers
making the switch from a condo to a home.
Sales data represents January 1 through August 20 of
each year reported and was obtained from the Lake of the Ozarks/Bagnell Dam AOR
MLS.
I realize that this data combines all property types
and locations of lakefront homes and condos.
There are many areas and price points that I see decent value increases
while other still continue to remain steady; I am seeing very little decrease
in values compared to the last two years.
If you would like a detailed sales report and value for your specific
property type or neighborhood, please contact me.
Michael has been selling real estate at 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 C. Michael Elliott &
Associates at 573.365.SOLD. You can also
view each month’s article, ask questions and offer your opinion on his blog at www.AsTheLakeChurns.com and Search and view thousands of lake area
listings at www.YourLake.com
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