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 2nd 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
