Lake of the Ozarks MLS 3rd Quarter Report
Thursday, October 7th, 2010Again, we’re pleased to present a summary of the Lake of the Ozarks MLS real estate transactions for the quarter ending 9/30/2010. This report shows how the market performed compared to 2009 and a chart showing YTD transactions by price range and real estate category.
There have been 3 predictions we have made that appear to be taking place … 1) A decline in lakefront home inventory 2) A decline in condo inventory 3) An increase in lakefront lot sales. The inventory of LF homes has declined by 136 homes or 11% since June 30, 2010 and condo inventory has declined by 124 or 11.5%.
We believe that lakefront lots will soon start to move for 3 reasons … 1) There have been a very limited amount of new homes built the last 3.5 years 2) In some cases, it will be cheaper to build than buy what is currently on the market 3) As the inventory of lakefront homes declines, prices will firm up and make building a more attractive alternative.
When you review the luxury home market stats (price ranges from $1,000,000 and up) the inventory has increased since June by 7 homes, and the number of $1,000,000 + homes that have sold this year are only 7. So the luxury home market is not recovering as quickly as the other market segments.
The handwritten numbers to the right of the LF and Condo stat sheets show sales by price category, represents the decline in inventory for that price range. Although the active numbers by area and price range appear to be high, keep in mind those numbers represent 1,200 miles of LF shoreline, so the supply may not be as abundant as one may first think.
I will look forward to your email or calls with questions about the mls lake of the ozarks real estate statistics (linked to in this sentence). We are in an interesting time and I firmly believe that we will see a continued decline in inventory that will result in a sellers market within 6 to 12 months.
One last thing…the jump in LF home sales in September 2010 compared to 09 is a 41% jump!!!


