Amid scattered reports of improved boat sales and real estate activity, a lake area realtor said there are some interesting trends when looking at three-year sales at the lake.
Karie Jacobs said there are some surprising bright spots that indicate the real estate market is continuing to improve.
According to Jacob’s findings, the trend continues to move upward with totals sales so far this year for the lake area of 432 units. That’s up seven percent over the same period a year ago and 27 percent over 2011, Jacobs said.
The surprise, she said, is that the increase is in all homes not just lakefront properties or any other single category.
All homes that aren’t waterfront have increased from a low of 137 units in 2011 for the first quarter, to 151 in 2012 and to 168 units in 2013. Condominium sales have increased from a low in 2011 of 60 units, to 84 in 2012 and now 95 units, up 11 percent.
“The desire of people wanting to build again at the Lake of the Ozarks is shown by the increase in land sales,” she said.
Waterfront and non-waterfront sites have both shown increases. In 2011 sales were only 20 for the first quarter. The number of units increased to 29 in 2012 and have shown a significant increase of 40 percent with 48 units closed for this year.
“We have had a great deal of development at the Lake and it is contributing to land and off shore sales for principal residences,” Jacobs said.
The market hasn’t seen prices increase yet, but supply and demand will dictate increase in the near future, she explained.
The listing inventory has remained consistent while buyers have become more serious about owning and purchasing property.