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Total sales in 2015 rose 3%, while sales volume increased 5%. We saw an increase in prices and in the number of units sold, which is great for sellers. However, this is bad news for buyers, as there are fewer listings on the market to choose from.
The Lake of the Ozarks has seen significant growth in off-shore residences, as we saw the volume of sales increase by 14% and the number of units increase by 9%. For waterfront properties, we saw a 3% increase in units and a 71% increase in value! The demand for waterfront properties is off the charts, so you can expect some new construction to hit the market soon. For off-water lots, we saw a 65% increase in volume and 28% increase in units. Lastly, for condos, we've seen a 15% increase in units and a 14% increase in value. Prices just continue to go up!
In 2014, there was a little over $460 million worth of real estate sold in Lake of the Ozarks; in 2015, there was a total of $504 million! We've seen a year-over-year increase in real estate sales since 2012, and we expect this growth to continue here in 2016! We predict to see a 3-5% increase in value and a similar increase in units sold, so there is a lot to look forward to this year.
If you have any questions about how you can take advantage of our strong market, please don't hesitate to reach out to us. We would love to hear from you!
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