News Article Header-2.png
The Lake of the Ozarks Real Estate market continues to thrive and provide great gains for homeowners, defying talk of inflation and increased interest rates
white spacer.png
Jane 2-Market Update.pngThrough the Second Quarter of 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) show 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 26% increase in Average Selling Price
  • Off-Water Homes were up 13%
  • And Lakefront Homes were up 17%
Of note, these increases were even higher than comparisons of first quarter gains in 2022.
(more below chart links)
Button-Condos.pngButton-Condos.pngButton-Condos.png
The data above is even more impressive because, to date in 2022, the amount of inventory of homes for sale has decelerated by 10.7% from 2021 numbers.

This lower supply of available homes for sale is good news for sellers. Though the supply of inventory is shrinking, the sales numbers shown above indicate that demand for these homes remains extremely high. Demand exceeds supply causing buyers to offer more to get the home they desire.

Overall, in each home category, the number of homes appears to have decreased through the second quarter of 2022 vs. 2021…but upon further analysis within specific price ranges, they’ve actually increased:

  • Condominiums $300k+ were up 21.6% (197 sold in 2022 vs. 152 in 2021)
  • Off-Water Homes $250k+ were up 6.5% (276 vs. 259)
  • Lakefront Homes 500k+ were up 11.1% (240 sold vs. 216)
What this means2.pngThis data, coupled with sales volume increases in these categories, further verifies that demand for quality Lake homes continues to be strong.


BREAKDOWN BY PROPERTY TYPE

Condominiums

Condominiums priced from $80,000 to $200,000 posted a lower sales volume simply because there were 61.4% less available during this timeframe (66 in 2022 vs. 171 in 2021).

Though the number of condos for sale in this price range was reduced, the average price increased by 6.5%.

What this means2.png Clearly, it’s a seller’s market. Demand is high and buyers are willing to pay more to secure their piece of heaven at the Lake.

It’s a similar situation for condos priced at $200,001 or higher

While the number of available condos was 7.9% lower than in 2021 (315 vs. 342), the total sales volume was up 5.9% even though the number of properties sold was a full 27 fewer units than last year!

What this means2.pngCondo buyers are ready to spend more…much more…than in 2021 to have a place of their own at the Lake.


Off-Water Homes

These homes showed a 4% drop in sales volume comparing this year to date to last year.

This was caused by a 14% reduction in the number of homes sold (599 through the 2nd Quarter of 2022 to 707 in the same time period of 2021).

But, the key number for Off-Water Homes, is the average price of each sale was up 13% from the previous time period (now $270,881 vs $239,888 in 2021)

And buyers are snapping up Off-Water Homes much quicker than in 2021 by 15 days. On average, Days on Market (DOM) decreased by 19% from last year’s numbers (63 vs. 78).

What this means2.png Of our three categories in this report, Off-Water Homes lead in the total number of sales at the Lake (599 vs. 391-Lakefront vs. 381-Condos), indicating the market is strong for sellers of these properties and the opportunity for great gains from their investments.


Lakefront Homes

For Lakefront Homes, the number of properties listed in this period decreased by 21%, contributing to a lower volume, but the overall average price increased 17% (by nearly $100,000 over a year ago).

What this means2.png Demand is high and buyers are willing to pay more to live on the waterfront at our beautiful Lake of the Ozarks.

 
List to Sales Price

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

Through the 2nd Quarter of 2022, List to Sales Price was:
  • 100% for Condominiums and Villas
  • 98% for Off-Water Homes
  • 99% for Lakefront Homes
What this means2.pngSellers are essentially getting what they’re asking for their properties.
This is a direct result of realistic pricing by sellers and buyer demand exceeding supply.


Location Analysis

As shown below, 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.

Lakefront Properties (homes, condos, lots) sold by location through the 2nd Quarter of 2022:
  • Four Seasons/Lake Ozark = 174
  • Osage Beach = 144
  • Camdenton/Linn Creek = 93
  • Sunrise Beach = 84

Off-Water Properties (homes, condos, lots) sold by location:
  • Camdenton/Linn Creek = 142
  • Sunrise Beach = 111
  • Four Seasons/Lake Ozark = 95
  • Osage Beach = 89

In Summary

As we analyze these statistics through the 2nd Quarter of 2022 and review real estate projections from a variety of sources (Zillow, Realtor.com, Fannie Mae, Bloomberg, etc.), we see strong evidence 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.

And to Buyers...Take Heart...we have your back!
Give us your wish list and we will beat every bush, turn over every rock and find your dream property! 
Interest rates below 5% are still available, returning to pre-pandemic rates.



Thanks for reviewing this Market Report.

It’s always great to deliver 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.

And, in this uncertain economic time we live in right now, it’s always good to know where you stand with your assets and investments. Please use the link below to contact us for a FREE HOME VALUATION. A simple click will open an email for you to contact us directly.

Hope to hear from you soon!

Sincerely,

Jane Kelly

FREE VALUATION copy.png
Click to Email Button.png

TJK Logo-white bkd.png
Email Us-White.png Call Us-White.png