March 4th, 2012 10:24 AM by Mike and Susie Berra
Here are the real estate sales statistics for the period of January 1, 2012 to March 2, 2012 and a comparison to 2011 for the same period.
Waterfront Homes: There have been 55 waterfront home closings so far this year just 2 ahead of the 53 sales for the same period last year. The median sales price is $198,500 compared to $232,500 in 2011. There were 5 bank owned waterfront home closings so far in 2012, down from 8 in 2011.
Off-water Homes: There have been closings on 88 off-water homes in 2012 compared to 74 closings for the same period last year. The median price in 2011 was $91,500 and is $84,450 for 2012. Bank owned home sales numbered 36 at this point last year and number 40 so far this year.
Waterfront Condos: 2011 saw closings on 30 waterfront condos from 1/1/11 to 3/1/11. There have been 39 closings so far this year. Of those 39 closings, 10 were bank owned properties, up from only 2 for the same period last year. Median price for condos in 2012 is $130,100 vs. $155,750 in 2011.
Off-water Condos: So far this year 5 off-water condos have sold and closed, with none being bank owned. There were 7 off water sales for the same period last year with three of them being bank owned.
Lots and Land: In 2011, there were 9 closings of lots and land in the first 2 months. That number has nearly doubled this year with 17 closed sales. Median price last year was $16,500 and this year is $25,000. There were no waterfront lot sales last year for this period and there are 4 this year. Of the lot sales there were 2 bank owned sales in both 2011 and 2012.
Commercial: 6 commercial properties closed in the first 2 months of 2011 and 7 have closed so far this year. Median price in 2011 was $140,000 and is $187,500 for 2012. Bank owned commercial closings numbered 1 last year an 0 so far in 2012.
Farms: In the first 2 months of 2012, there have been 2 farms sales compared to 1 at this point last year.
All Property Types: In 2012 so far, closings number 216 with a sales volume of $33,217,765. Of these sales 57 were bank owned. In 2011, there were 181 closings at this point with total volume at $31,789,832. There were 52 bank owned sales last year. Average sales price for all types properties combined for 2011 was $175,634 vs. $153,786 in 2012. The biggest jump in activity this year is for off water homes, waterfront condos and land sales. Total number of transactions is up 16%. Bank owned sales were nearly 29% of all sales in 2011 at this time. They are roughly 26% of all sales in 2012.
Just to show you how wild the market was a few years back, in 2006 at this point there were 444 closings with a volume of $76,423,179 (more than double the transactions and volume of this year).
This is info the first 2 months of the year, and our stronger selling season is coming soon. I will keep you updated on what is happening in the real estate market at the Lake of the Ozarks.
*Note: Data taken from the Bagnell Dam Association of Realtors MLS.