Total number of property sales increased
9.1% year-over-year and increased 44.7% compared to 2011. Total dollar volume closed was up 11%
compared to 2014 and 55.8% compared to 2011.
Foreclosures dropped again with a decrease of 20% year-over-year and a
substantial decrease of 48.9% compared to 2011.
Total foreclosures accounted for just 6% of all sales.
2015
Lakefront home sales increased in number by 3.47% above 2014 and were up 36%
over 2011. The average sales price increased by 3.55%
above 2014 and 4.75% above 2011. Total
dollar volume increased 7.13% above 2014 and 42.6% compared to 2011.
Offwater homes sales saw a healthy
increase of 7% in homes sold, a 6.2% increase in the average sales price and
13.6% increase in total dollars sold compared to 2014. 2015 Offwater home sales saw a tremendous
increase compared to 2011 with a 35.7% increase in number of homes sold, 31.7%
increase in average sales price and 78.9% increase in total dollar volume sold.
Condo sales also saw healthy increase in the
number of units sold of 16% and the total dollars sold increased 14.4% compared
to 2014. Compared to 2011, 2015 total
condo sales increased 47.2% and total dollars sold increased 48.3%. While the number of condo sales have
increased greatly, the average sales price in each of the past 5 years has
remained within a 6% range and 2015 when compared to 2011 average sales price
saw only a half percent increase.
Commercial sales were at 67 units in 2015
and 70 units in 2014. 2015 units closed
represent an 86.1% increase, average sales price a 19.5% increase and total
dollars sold a 122% increase when compared to 2011. Commercial
investors and individual business owners are continuing to show confidence in
the lake area.
The number of Lakefront lot sales increased
year-over-year by 8.7% and the average sales price was up 63.5%, the total
dollars sold increased 78%. 2015 numbers
compared to 2011 saw huge increases; 86.1% increase in number of sales and 122%
increase in total dollars sold as well as 34.7% increase in the average sales
price.
My
outlook for 2016 is more of the same healthy increases in sales. As I
said last year: I am seeing good,
consistent increase in the market numbers.
I project that as the lake home sales and values continue to rise and
good inventory lowers even more; more buyers will turn to lakefront lots. This will include both individuals looking to
build their personal home as well as more builders looking to get back into the
spec home market.
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, 2011 to December 15,
2015 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
