December Lake of the Ozarks Real Estate Update

Sales Report

Sales of all property types year to date at of the end of October 2018 are up just slightly over one half percent compared to 2017.  The total number of new listings on the market is down by 10.69 percent so far this year.  The average sales price has increased 1.09 percent and the overall average days on the market has decreased 4.45 percent.

     Lakefront home new listings have decreased 13.6 percent in 2018 and the number of homes sold has also fallen by 8.64 percent.  The average sales price has continued to rise, with a 5.59 percent increase from 2017.  Average days on the market has decreased by 8.92 percent from 2017.  In 2018 the average time on the market is at just four months.

     The average time on the market for offshore homes has also decreased by 9.75 percent and is currently at three months and three weeks.  2018 average sales price has increased 2.88 percent and the number of homes sold increased 7 percent in 2018.

     The amount of new condo listings hitting the market in 2018 has decreased by 15.7 percent from 2017 with the amount of sold units also falling 3.7 percent.  The average sales price has increased 5 percent and the time on the market has reduced by 9.64 percent.

     Lakefront lots saw an increase of 6.7 percent in average sales price this year with the number sold falling 4.9%.  New lakefront lot listings has decreased 9 percent from 2017 and the average days on the market increased by 7 percent.

     Offshore lot sales increased substantially by 45 percent in 2018 with just a 2 percent increase in the amount of new listings made available.  The average sales price also increased by 5 percent and the average time on the market rose 18 percent and is slightly over six months.    

     Sales of farms increased 5.9 percent in 218 with a 20 percent increase in new listings on the market.  The average sales price increased by almost 3 percent and the time on the market rose 39 percent but is still low at about a three and a half month average.

     I have compiled this data from the Lake of the Ozarks Board of Realtors Multiple Listing System for the time frame beginning January 1, 2017 and ending October 31, 2018.

     Michael Elliott 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, or have interest in a career in real estate, contact him at 573.365.SOLD or cme@yourlake.com  or stop by C. Michael Elliott & Associates, 3738 Osage Beach Parkway.  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