The Berra's Lake of the Ozarks Real Estate Blog

Five months have passed us by in 2010, so let's see what the real estate market is doing at the Lake of the Ozarks.

As of May 31, 2010, there have been 166 closed sales of waterfront homes lake-wide, down just 4% for this period last year. 15 of these sales were bank owned homes.

As of May 31, 2010, there have been 268 off-water home sales, which is a 21% increase from last year at this time. Part of that increase was due to foreclosure sales, which numbered 38 for this period last year and now numbers 97 sales for 2010.

As of May 31, 2010, there have been 144 condo sales which is an increase of approximately 10% from this period last year. Of these 144 closed sales, 15% were bank owned homes.

As of May 31, 2010, 13 commercial properties closed, 67 lots/land and 2 farms. In the same period in 2009, 16 commercial properties closed, 71 lots/land and 10 farms. 

Average values on waterfront homes and condos have been pretty stable. Average values on off-water homes have declined about 10% from 2009. Much of this decline could be attributed to the larger number of smaller homes that were bank owned and sold.

*Data was taken from the Bagnell Dam Association of Realtors.