Lake of the Ozarks Real Estate Blog

There is reason for optimism at the Lake of the Ozarks.  After the first six months of 2011 the overall sales outlook has improved.  The number of sales for the following property types has increased; Lake Front Homes, Resale Condominiums, Villas and Townhomes and Commercial.  In addition the overall sales volume in dollars for the following property types has increased; Lake Front Homes, Resale Condominiums, Villas and Townhomes and Farms.  This is real good news for Sellers in the lake area of these types of properties.

The good news for Buyers is that the average sales price for the following property types has decreased; Lake Front homes, Offshore homes, Resale Condominiums, Villas and Townhomes, Non Lakefront lots and Commercial.  In addition we have seen an icrease in the number of foreclosure sales from last year 171 in 2010 and 194 in 2011 (this combines all property types).

In my opinion we may be seeing a stabilizing of the real estate economy at the Lake of the Ozarks.  Overall the number of properties sold has increased and the sales volume for some key property types has increased but we have seen a decrease in the average sales price of properties at the lake.  This provides some good news for both buyers and sellers.  Ultimately the market at the lake is still a Buyers Market due to the large number of inventory available and decreasing values but it is a very good time to take advantage of these decreased prices.