Real Estate Market Update for 1st Quarter of 20174/10/2017
The Numbers Are In!
Closed Sales from 1/1/2017 to 3/31/2017 - Based on information from the Bagnell Dam Assoc of Realtors and Lake of the Ozarks Board of Realtors shared MLS. * Days on the market are reflective on present listing only and don't show prior listing activity.
Lakefront Homes Sales: There has been strong movement in this catagory of property with units closed at 160 compared to last year same time period where 108 transactions we closed. Property Days on the Market is 175 Days for Lakefront Homes.
All Homes Not Lakefront: The market has remained flat at 181 transactions closed and the same amount last year. The big movement was in 2015 at 152 units to 181 in 2016. Days on the market 155.
Condo Sales: There was a reasonable increase from 110 units sold for the first quarter last year to 130 units closed in 2017. This number is reflective of New construction and Re sale units. Days on the market are 148 for this time period Villas and Townhomes flat with 13 units closed.
Lakefront Lots and Land: We have seen a significant increase in the number of units closed from 9 last year to 18 this year. As prices of existing homes and availability tightens up, I expect this trend to continue.
Non Lakefront Land: Units closed in 2017 were 35 compared to 66 in 2016 and 50 closed in 2015. Days on the market 208. I expect as builders jump back into the market this will be a growth area for the Lake area.
Commercial: The sale of commercial property is about half of what it was last year for the same time period. These number are often not accurate as Commercial sales often aren't reported to the MLS.
Total Transactions: The trend continues up with sales increased by 37 closed units bringing the total sold to 547. Prior year of 2016 was 510 closed and 2015 closed units were 467.
There are hot price ranges and areas in each of these catagories. Give me a call if you have interest in the numbers in your neighborhood or complex 573 302-2328. firstname.lastname@example.org All Real Estate Markets are Local!