What the 3rd Quarter Stats Say About Our Market

The Lake Ozark third quarter statistics are in, and the numbers show that the market is doing quite well across the board. Buyers are out and willing to pay, but inventory is low.
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Curiosity about what's going on in the market is high, so today I wanted to talk about the third quarter market statistics.

Lakefront homes are actually doing very well right now. The average sale price is up $10,000 from $311,000 last year to $321,000 this year. If you're looking to sell, it's a great time to hit the market. Similarly, the average list-to-sale price last year was 94.4%, and this year it's up to 95.5%.

The average days on market dropped from 155 last year down to 142 this year. The biggest problem we have in the Lake Ozark market, though, is a lack of good inventory. Last year we sold 509 homes, and we have sold 469 this year.

The only reason for this is that we just don't have the homes to sell. Buyers are out there and they're willing to pay more. Days on market are good, too. If you price your home properly when selling, you're going to get people looking to buy it.

Buyers are out there and they're willing to pay more.

Non-lakefront homes are becoming more important here as more people decide it's a great place to live. In our market last year, 548 homes were sold. This year, 607 homes were sold.

The average price on these non-lakefront homes rose slightly from $130,000 to $131,000, and list-to-sale ratio also rose slightly from 94.9% to 95.3%. Days on market for off-water homes went from 85 to 60. It's a great time to sell these homes as well.

Condos sales are up slightly this year, too; 461 units sold this year compared to 446 last year. Condos have a 95.8% list-to-sale price ratio, so it's a great market. All in all, it's a great market across the board. The only thing I see down are lots, because we're seeing some hesitation in builders. That's mostly because you can buy a lakefront home cheaper than you can build one in today's market.

If you'd like a copy of any of the market statistics or you have questions about the Lake Ozark market, feel free to give us a call or send us an email. We'd be happy to hear from you.

How to Practice Good Dock Safety

Karen McFarland, one of our great agents, is here today to talk about dock safety, an important issue here at the lake. Thousands of people come here each year, and we want to keep our lakes safe, happy, and wonderful by spreading the word on dock safety.

If you are coming to the lake, you will likely be on a dock at some point. As a responsible dock owner, there are a few things you should keep in mind to keep you, your friends, and your family safe.

First off, you should have a visual inspection of your dock done each year. Especially in places with rough water, there can be hazardous situations when docks move around too much. It’s also a good idea to get a GFCI tester to make sure your GFCI works.

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If you feel a shock, swim away from the dock.

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You should also keep an eye on your neighbors’ docks and make sure that they are being inspected on a regular basis. You should know how to shut off the electricity on their dock if there is any.

If you have young people swimming around your dock, have them keep this in mind: “If you feel a shock, swim away from the dock” and “If in doubt, shut it down.” Practicing good dock safety means making sure everyone is as safe as possible. You don’t want anything bad to happen.

If you have any questions for us about your dock, don’t hesitate to reach out. We would love to hear from you via phone or email. Hope to hear from you soon!

Tools for Simplifying the Lake Ozark Market

Looking to buy in Lake Ozark? Get a full Home Search 
Looking to sell in Lake Ozark? Get a free Home Price Evaluation

I'm happy to be joined today by a fellow agent, Nicol O'Sullivan.

She's a graduate of the University of Missouri with a degree in marketing, and while she's relatively new to real estate, her family has been in the construction and home building business for years and years, so she's well-versed in the field. I'm proud to say her team is number 15 right now in the whole Lake of the Ozarks in total sales.

As an agent, one of the biggest issues Nicol has with new buyers is that they're not familiar with the lake, and it can be very confusing. There are some really useful tools available to you to help navigate the lake, so to speak. On our website, we have a map search that allows you to narrow in on certain areas and see all the listings in that area. It'll also tell you nearby things like popular restaurants.

Say you're out boating and you see a house you like. You can use our mobile app and find out any information about the house. If it's something you like, you can mark the listing as a favorite on the app, and it will alert the agent. They can then send you more info on the property.

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Our mobile app lets you see info on any house at any time.

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When looking at the lake, you need to think about what you're looking for in a house. If you like quiet water, fishing, and peacefulness, or maybe you want to be in the hustle and bustle, the busy parts of the lake are probably the six-mile marker to about the 26-mile marker. To the west side, you have areas that aren't quite as developed just yet, but are coming along. There is a brand new grocery store and pharmacy nearby, for example. Then you have the Osage beach area, which is more developed with shopping, stores, and go-karting, to name just a few things.

It's important to know exactly what you're looking for so we can find you the best possible spot for your wants and needs!

If you have further questions about the lake and what each area has to offer, give us a call. We'd love to share our expertise with you. You can reach Nicol at 816-985-5888, or email her at nicolosullivan10@gmail.com.