Attached is a recap of the past three years of the real estate market at
Lake of the Ozarks broken down by categories. From all indications it appears
we have hit the bottom and are headed in a positive direction. I have also
included a summary of the national forecast over the next 2 years. While every
market is unique most of the overall trends will probably apply to the lake
market.
If you would like to take advantage of the great interest rates check out
the properties that are available by logging into my web site at www.condasells.com. Or if you would like
to consider selling your lake property, the inventories are very low. Feel free
to call or email if you have any specific questions or comments or if you would
like a market analysis of your property.
Thanks!
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3 year
Recap
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2010
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2011
|
2012
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|||
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Total
Sold Volume
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$157,499,198
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$172,720,400
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$186,927,759
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|
Total
Sold Transactions
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513
|
584
|
671
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|
Average
List Price
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$335,419
|
$323,904
|
$298,883
|
|
Average
Sold Price
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$307,016
|
$295,754
|
$278,581
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|
% of
Avg. List Price vs. Avg. Sold Price
|
91.5%
|
91.3%
|
93.2%
|
|
Average
Days on Market
|
170
|
176
|
173
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|
# of
Foreclosure Sales
|
51
|
56
|
44
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|
All
Homes not Lakefront
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|||
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Total
Sold Transactions
|
612
|
610
|
687
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Total
Sold Volume
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$67,646,152
|
$59,746,375
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$76,065,196
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|
Average
List Price
|
$118,204
|
$105,756
|
$118,151
|
|
Average
Sold Price
|
$110,533
|
$97,945
|
$110,721
|
|
% of
Avg. List Price vs. Avg. Sold Price
|
93.5%
|
92.6%
|
93.7%
|
|
Average
Days on Market
|
133
|
146
|
153
|
|
# of
Foreclosure Sales
|
232
|
230
|
217
|
|
Original
Sale Condominiums
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|||
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Total
Sold Transactions
|
64
|
63
|
47
|
|
Total
Sold Volume
|
$13,440,893
|
$12,453,534
|
$9,751,695
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|
Average
List Price
|
$209,927
|
$196,826
|
$202,746
|
|
Average
Sold Price
|
$210,014
|
$197,675
|
$207,483
|
|
% of
Avg. List Price vs. Avg. Sold Price
|
100.0%
|
100.4%
|
102.3%
|
|
Average
Days on Market
|
452
|
528
|
215
|
|
# of
Foreclosure Sales
|
5
|
0
|
4
|
|
Resale
Condominiums
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|||
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Total
Sold Transactions
|
386
|
376
|
473
|
|
Total
Sold Volume
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$59,541,156
|
$57,813,805
|
$70,505,572
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|
Average
List Price
|
$164,025
|
$163,905
|
$157,217
|
|
Average
Sold Price
|
$154,252
|
$153,760
|
$149,060
|
|
% of
Avg. List Price vs. Avg. Sold Price
|
94.0%
|
93.8%
|
94.8%
|
|
Average
Days on Market
|
168
|
172
|
172
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|
# of
Foreclosure Sales
|
54
|
34
|
33
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|
Villas
and Townhomes
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|||
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Total
Sold Transactions
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19
|
40
|
37
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Total
Sold Volume
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$5,964,580
|
$9,897,098
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$9,782,620
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|
Average
List Price
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$339,093
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$263,661
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$278,632
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|
Average
Sold Price
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$313,925
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$247,427
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$264,395
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|
% of
Avg. List Price vs. Avg. Sold Price
|
92.6%
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93.8%
|
94.9%
|
|
Average
Days on Market
|
252
|
160
|
173
|
|
# of
Foreclosure Sales
|
4
|
9
|
11
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|
Lakefront
Lots and Land
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|||
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Total
Sold Transactions
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41
|
35
|
51
|
|
Total
Sold Volume
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$5,063,196
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$3,792,500
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$6,966,650
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|
Average
List Price
|
$153,287
|
$134,429
|
$166,230
|
|
Average
Sold Price
|
$123,493
|
$108,357
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$136,601
|
|
% of
Avg. List Price vs. Avg. Sold Price
|
80.6%
|
80.6%
|
82.2%
|
|
Average
Days on Market
|
183
|
192
|
201
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|
# of
Foreclosure Sales
|
4
|
8
|
8
|
|
All
Non-Lakefront Land
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|||
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Total
Sold Transactions
|
129
|
99
|
124
|
|
Total
Sold Volume
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$6,481,194
|
$2,928,201
|
$5,012,179
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|
Average
List Price
|
$56,931
|
$38,763
|
$46,235
|
|
Average
Sold Price
|
$50,242
|
$29,578
|
$40,421
|
|
% of
Avg. List Price vs. Avg. Sold Price
|
88.3%
|
76.3%
|
87.4%
|
|
Average
Days on Market
|
177
|
194
|
243
|
|
# of
Foreclosure Sales
|
11
|
12
|
16
|
|
Commercial
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|||
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Total
Sold Transactions
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33
|
39
|
36
|
|
Total
Sold Volume
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$11,317,151
|
$7,639,375
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$7,086,500
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|
Average
List Price
|
$411,426
|
$239,640
|
$233,689
|
|
Average
Sold Price
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$342,944
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$195,881
|
$196,847
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|
% of
Avg. List Price vs. Avg. Sold Price
|
83.4%
|
81.7%
|
84.2%
|
|
Average
Days on Market
|
189
|
257
|
338
|
|
# of
Foreclosure Sales
|
7
|
11
|
12
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|
Farms
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|||
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Total
Sold Transactions
|
7
|
12
|
17
|
|
Total
Sold Volume
|
$915,250
|
$3,577,200
|
$4,747,900
|
|
Average
List Price
|
$142,521
|
$352,113
|
$307,565
|
|
Average
Sold Price
|
$130,750
|
$298,100
|
$279,288
|
|
% of
Avg. List Price vs. Avg. Sold Price
|
91.7%
|
84.7%
|
90.8%
|
|
Average
Days on Market
|
88
|
213
|
209
|
|
# of
Foreclosure Sales
|
1
|
1
|
2
|
|
Totals
|
|||
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Total
Number of Transactions Sold
|
1,804
|
1,858
|
2,143
|
|
Total
Sold Volume
|
$327,868,770
|
$330,568,488
|
$376,846,071
|
|
Total
Foreclosures Sold
|
369
|
361
|
347
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Data from
Bagnell Dam Board of Realtors MLS
Homes
Market activity continues to improve at Lake of the
Ozarks. According to MLS data the total
number of transactions increased 19%
since 2010 while the number of foreclosures dropped 6% during the same time
frame showing market stability.
Lakefront home sales volume increased by 30% while the
average sales price declined by 9% from 2010 to 2012. Non-lakefront homes sales volume increased
slightly while average sales price remained steady. The number of foreclosures for both
waterfront and non-waterfront decreased slightly.
Condos
The number of original (new construction) condo unit sales
decreased slightly showing that the over-supply is depleting. The average sales price remained steady. Resale condos unit sales increased
substantially up 22% with the average sales price remaining relatively steady.
Villas/Townhomes
The number of villa/townhome units sold did increase but
still remains a small number due to the limited number of units available.
Lots and
Land
Lakefront lots increased in both transactions and average
sales price while non-lakefront remained relatively steady.
Commercial
The number of commercial transactions remained steady while
average sales price fell 43%.
Farms
Farms show the highest gain with number of transactions
increasing 143% which is exaggerated due to the small quantity of sales. The average sales price also increased
substantially at 114%.
Overview
The total number of transactions across all categories
increased by 19% while foreclosures decreased 6% from 2010 to 2012. Low interest rates continue to drive the real
estate market as buyers scramble to take advantage of low prices and low rates
as the inventory continues to decrease.
What the Future Holds--Real Estate Forecast
According to the National Association of Realtor
January/February 2013 issue, the real estate future looks bright. They are
predicting that the average sales price will increase from $177,000 in 2012 to
$193,000 in 2014; existing home sales will increase from 4.64 million to 5.3
million and housing starts will almost double.
Interest rates are predicted to increase from 3.7% to 4.8% while
distressed sales will decrease from 25% of total sales to 8%. In the commercial market vacancy rates are
predicted to decrease and rental growth will almost double from 2011 to the end
of 2013.
If you own property at the lake and would like a market
analysis give me a call or send me an email and I will happy to send you
comparative data that is more specific to your type of property. Also, if you have property and you would like
something different let me know so I can enter you in my property match
spreadsheet. I have a number of owners
that want to move from a condo to a home or from a large home to smaller home
or from smaller home to larger home. I
did complete several transactions where trading property was involved in
2012. If you would like any property
analyzed just give me a call.
Conda
5732160553
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