Continuing the Upward Trend
Lake area sales continue the rapid pace we have been seeing since Spring of this year. Contracts written keep exceeding new listings coming on the market. As I write this near the end of October, the previous seven day’s activity remains strong. A total of 73 new listings became available via the Lake’s Multiple Listing System, 118 properties have had contracts accepted and 125 property transactions closed.
I am currently working with developers who
are planning a new lakefront condo project in one of the Lake’s most desirable
locations. Over the next couple of
months, I will be able to share more information on size, pricing, finishes and
options. It’s an exciting time as we see
more people become aware of all that the lake has to offer.
All property types and all price ranges
have benefited from the surge of activity created by the pandemic. At the start
of the year, luxury home sales had lagged behind the recovery enjoyed by more
moderately priced homes but have now regained traction and are generating more
interest than I have ever experienced in that price point. I recently listed a lakefront home at just
under $1.2 million and had eight showing appointments scheduled within two
hours. The home was sold within 24
hours.
Here’s a snapshot of sales across all
property types. Year to date in 2020 vs.
2019, lakefront homes sales have increased by 38.6 percent. Non lakefront homes sales have increased by
10.4 percent. Condo sales have increased
by 23.4 percent. Non lakefront lots
sales have increased by 18.4 percent and lakefront lots have increased a
whopping 130 percent.
All sales data obtained from the Lake of the
Ozarks Board of Realtors Multiple Listing System for the years 2019 and 2020.
C. Michael Elliott and Associates is a
boutique, privately owned office with a great group of knowledgeable, topnotch
agents and staff that will work in your best interest and are enjoyable to work
with. Please give us a call if you are
considering buying or selling, we’ll explain our services in detail and you can
decide if we are a good fit for you.
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.
