Grand Lake OK 2008 to 2012 Full Year Real Estate Market Analysis
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Looking at the last five years, we had our second best overall sales at $155 million, best Residential water front homes at $70 million, and best Luxury Home sales ($500,000 or more) at $32 million. Also surprisingly good were water front lots and farm & ranch sales. Almost every category I track was up double digit percentages.
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Grand Lake OK 2008 to 2012 Full Year Real Estate Market Analysis
- 1. 2012 Grand Lake Area Real Estate Trends PRESENTED BY: Jeff Savage Realtor - CRS, E-Pro, SRES RE/MAX Grand Lake
- 2. 2012 Grand Lake Area Real Estate Trends www.SlideShare.net/JeffSavage01
- 3. Real Estate Acronyms, Terminology and Definitions DOLLAR VOLUME Total dollars spent in that property category. AVERAGE SOLD PRICE Total Dollars Spent divided by number of units sold in that property category. Luxury Home Market In this instance, we will simply use the price point representing the upper 5% of the market, or $500,000+
- 4. Source of Information • Based on information from the Northeast Oklahoma Board of Realtors® For the period January 1, 2008 through December 31, 2012
- 5. All Property Sales Dollar Volume $171,559,949 $155,397,922 $127,567,682 $125,457,074 $119,843,085 2008 2009 2010 2011 2012
- 6. Residential Waterfront Dollar Volume $69,526,355 $66,767,086 $58,060,405 $49,067,635 $46,299,150 2008 2009 2010 2011 2012
- 7. Residential Waterfront Average Sold Price $358,963 $345,902 $333,793 $335,609 $291,190 2008 2009 2010 2011 2012
- 8. Residential (not Water Front) Dollar Volume $69,200,646 $60,092,708 $57,998,163 $53,220,825 $53,327,813 2008 2009 2010 2011 2012
- 9. Luxury Home Market Dollar Volume $31,054,400 $32,289,500 $23,839,600 $19,508,210 $15,868,500 2008 2009 2010 2011 2012
- 10. Water Front Lots Dollar Volume $6,421,999 $5,995,737 $3,411,375 $2,808,850 $2,835,300 2008 2009 2010 2011 2012
- 11. Condos and Townhomes Dollar Volume $7,011,516 $7,108,232 $6,185,500 $5,990,000 $5,694,525 2008 2009 2010 2011 2012
- 12. Farms and Ranches $11,467,820 $7,817,380 $7,995,861 $4,828,470 $4,228,334 2008 2009 2010 2011 2012
- 13. Commercial Dollar Volume $5,648,400 $3,047,500 $2,897,900 $2,290,000 $1,686,000 2008 2009 2010 2011 2012
- 14. Number of Sold Transactions Total # Sales 1,159 969 957 803 830 2008 2009 2010 2011 2012
- 15. All Property Listings Active Listings During the Year 4,974 4,769 4,484 4,379 4,232 2008 2009 2010 2011 2012
- 16. Residential Sales Dollar Volume $135,967,732 $127,524,518 $111,388,218 $106,391,858 $102,288,460 2008 2009 2010 2011 2012
- 17. Conventional Loans Dollar Volume $63,289,586 $61,306,542 $56,430,899 $51,062,943 $48,401,234 2008 2009 2010 2011 2012
- 18. Cash Sales Dollar Volume $34,857,391 $32,731,016 $33,173,688 $32,421,082 $26,034,680 2008 2009 2010 2011 2012
- 19. In Conclusion • The numbers show a recovering local real estate market. • Water Front Homes bring buyers to Grand Lake, and continue to be the strongest segment of the area market. • Real estate is local, and Oklahomans are not buying or selling their homes in a national housing market.
- 20. 2012 Grand Lake Area Real Estate Trends www.SlideShare.net/JeffSavage01
- 21. 2012 Grand Lake Area Real Estate Trends PRESENTED BY: Jeff Savage Realtor - CRS, E-Pro, SRES RE/MAX Grand Lake
Notes de l'éditeur
- For the entire Real Estate Trends slide show, go to SlideShare.net/JeffSavage01
- Here are a few terms we will use today:Dollar Volume – TOTAL dollars spent in that categoryAverage Sold Price - TOTAL dollars spent divided by number of units soldLuxuryHome Market – We took the upper 5% of the market, which in this case was $500,000 and up
- Based on information from the Northeast Oklahoma Board of Realtors for the period January 1, 2005 through December 31, 2011This study includes MOST but NOT ALL real estate activity
- For ALL Real Estate, let’s look at area market performance for the last 5 years - 2008 to 2012We will often focus on the last 3 years – 2010, 2011 & 20122012 was $155 million – up 22 % from 2011Dollars spent on homes is up 15%Dollars spent on waterfront homes up 20 %
- When we look at Water Front Homes, we see Dollar Volume is HIGHEST in last 5 yearsThe average for the last three years is $59 million now 45 % of ALL market activity up 20 % over 2011
- If we continue to look at Water Front Homes, we see Average Sold Price numbers are on the rise, after a drop in 2009
- When we look at theNON-Water Front homes,The average for the last three years is $55 million now 37 % of ALL market activityAverage Sold Price forNON-Water Front homes,is just over $100,000
- Luxury Homes ($500,000 or more) have performed wellThey are on the rise and now 21 % of the total marketIn 2011 we sold 33 Luxury Homes, 2012 sold 43 up 21 % over 2011
- Looking at Water Front LOTS we see a lot of fluctuationThey are a small segment of market activity or 4 % of the market
- Condos and Townhouses now represent 4 % of the market
- Farms and Ranches now represent 7 % of the market
- Commercial Property now represent 2 % of the market
- Looking at the Number of SOLD Transactions for ALL Property Types, we see a pattern similar to Total Market VolumeTotal Number Sold jumped 126 this year.
- Looking at the Number of Listings for ALL Property Types, we see that they have dropped off steadilyThe average for the last three years - around 4365 listings / year.
- Now, let’s look at our Financing SourcesLooking at Residential Home SalesConventional and CASH make up 75 % of Residential salesFHA is the next largest at 5 %Residential Sales represent 82 % of Total Dollar Volume, & 81% of Total Transactions
- Conventional Financing has dropped off since 2008 andhas almost returned to 2008 levelsrepresents 48 % of ALL Residential Financing Transactions
- CASH has remained relatively constant throughout the last 5 years and represents around 27 % of ALL Residential Financing Transactions
- So . . . . The numbers show us that Residential Sales Dollars are up 15 %, Waterfront homes are up 20 %, and the overall market is up 21.7 %,Water Front Homes bring buyers to Grand Lake, and seem to have faired better in recent years“Real Estate is LOCAL . . . And Oklahomans are not buying or selling these homes in a national housing market.”
- For the entire Real Estate Trends slide show, go to SlideShare.net/JeffSavage01