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Early '22 sales show great gains in home values at Lake of the Ozarks
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Jane 2-Market Update.pngAccording to First Quarter 2022 market statistics accumulated from the Bagnell Dam Association of REALTORS® MLS and Lake of the Ozarks Board of REALTORS® MLS, each of which tracks home listings and sales, the overall Average Selling Price for Condominiums, Lakefront Homes and Off-Water Homes were up substantially from the same time period in 2021.

At the Lake of the Ozarks:
  • Condominiums showed a 21% increase in Average Selling Price
  • Off-Water Homes were up 17%
  • And Lakefront Homes were up 9%
(more below chart links)
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Off-Water Homes showed the greatest rise in sales volume, posting over $6 million more than 2021 1st Quarter numbers even though the number of properties sold decreased by 6%. On average, Days on Market (DOM) decreased by almost two weeks (12 days) from last year’s 1st Quarter numbers. 

For Lakefront Homes, the number of properties listed in this period decreased, contributing to a lower volume, but the average price increased 9% overall. Demand is high and buyers are willing to pay more to live on the waterfront at our beautiful Lake of the Ozarks. 

Condominiums priced from $80-$200k posted a lower volume simply because there were 50% fewer available during that timeframe (38 in 2022 compared to 77 in 2021). 

Consequently, the number of condos for sale was reduced, yet the average price for condos in this price range increased by 6.6%. Clearly, it’s a seller’s market, demand is high and buyers are willing to pay more to secure their little piece of heaven here.

Condominiums priced at $200,001 or higher matched last year’s 1st Quarter number of sales (118). Volume compiled for these 118 condos was up 9.5% in this price range during the 1st Quarter, again, showing the strong demand for property at the Lake. 

Overall, sellers are achieving their financial goals as the List to Sales Price ratio stayed strong.

In the 1st Quarter of 2022, List to Sales Price was:

97% for Off-Water Homes
98% for Lakefront Homes
99% for Condominiums and Villas

There’s no surprise that Lakefront and Off-Water homes are in greatest demand in Four Seasons, Lake Ozark, Camdenton/Linn Creek, Osage Beach and Sunrise Beach. Property owners in these areas have hot commodities in the current market.

In summary, these First Quarter statistics, and real estate projections from a variety of sources (Zillow, Realtor.com, Fannie Mae, Bloomberg, etc.), indicate that homes will continue to grow in value, and, while there will be less on the market, demand will be tremendous—especially through the 3rd Quarter of 2022.

Those who take advantage of this boom in real estate will find this period to be optimum to sell and garner great gains from their investment.

Thanks for reviewing this Market Update.

It’s always great to report good news to homeowners, and we’ve got plenty we can share with you!

For more details, use the links above to dig further into the current statistics for real estate at the Lake, or contact us with your questions at 573-302-2316, or at janekellyteam@janekelly.com.

Sincerely,

Jane Kelly

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