grand lake area real estate symposium 2013-market statistics

PRESENTED BY:

RE/MAX Grand Lake

SPONSORED BY:

2013 Grand Lake Area Real Estate Symposium

Grand Lake Real EstateMarket Statistics

Jeff Savage

2013 Grand Lake Area Real Estate Symposium

Total dollars spent in that property category.

Real Estate Acronyms, Terminology and Definitions

DOLLAR VOLUME

AVERAGE SOLD PRICE

Total Dollars Spent divided by number of units sold in that property category.

Luxury Home MarketIn this instance, we will simply use the price point representing the upper 5% of the market, or $500,000+

Source of Information

For the period January 1, 2008 through September 30, 2013

Based on information from the Northeast Oklahoma Board of Realtors®

Through THIRD Quarter for Each Year

All Property Sales

2008 2009 2010 2011 2012 2013

$134,232,070

$94,755,552

$85,390,575

$102,793,746

$118,901,036 $118,271,029

Dollar Volume

All Property Sales

2008 2009 2010 2011 2012 2013

$146,222

$129,447

$143,514

$164,734 $167,231$162,684

Average Sold Price

All Property Sold Transactions

2008 2009 2010 2011 2012 2013

918

732

595624

711 727

Total # Sales

All Property Inventory

2008 2009 2010 2011 2012 2013

4,429

4,210

4,017

3,841

3,962

3,710

Active Listings

ALL Residential Sales

2008 2009 2010 2011 2012 2013

$112,149,121

$81,183,511$75,252,425

$90,753,678

$98,975,018$103,508,943

Dollar Volume

ALL Residential Sales

2008 2009 2010 2011 2012 2013

$156,197

$135,986

$151,413

$172,208 $173,336 $171,089

Average Sold Price

ALL Residential Sales

2008 2009 2010 2011 2012 2013

718

597

497527

571605

Total # Sales

Residential Waterfront

2008 2009 2010 2011 2012 2013

$57,955,586

$34,025,225 $35,338,150

$51,168,035

$57,520,455 $58,862,725

Dollar Volume

Residential Waterfront

2008 2009 2010 2011 2012 2013

$362,222

$278,895

$315,519

$345,730 $350,734 $354,595

Average Sold Price

Luxury Home Market

2008 2009 2010 2011 2012 2013

$26,657,400

$10,037,500

$12,733,000

$21,449,600

$26,090,600 $27,136,000

Dollar Volume

Luxury Home Market

2008 2009 2010 2011 2012 2013

$833,044

$772,115

$749,000$739,641

$767,371

$822,303

Average Sold Price

Residential (not Water Front)

2008 2009 2010 2011 2012 2013

$54,193,535

$47,158,286

$39,914,275 $39,585,643$41,454,563

$44,646,218

Dollar Volume

Residential (not Water Front)

2008 2009 2010 2011 2012 2013

$97,121

$99,281

$103,673$104,448

$101,854 $101,700

Average Sold Price

Conventional Loans

2008 2009 2010 2011 2012 2013

$48,649,036

$43,052,074

$36,748,059

$41,971,103

$46,433,365$49,314,616

Dollar Volume

Conventional Loans

2008 2009 2010 2011 2012 2013

296

271

222233 242 247

Total # Sales

Cash Sales

2008 2009 2010 2011 2012 2013

$27,149,281

$18,626,090

$23,707,656

$28,236,988 $28,576,651

$32,795,856

Dollar Volume

Cash Sales

2008 2009 2010 2011 2012 2013

185

161 151

169

186

232

Total # Sales

FHA Sales

2008 2009 2010 2011 2012 2013

$7,785,904

$7,086,255

$5,111,410 $4,995,987 $5,003,510

$3,801,426

Dollar Volume

FHA Sales

2008 2009 2010 2011 2012 2013

99

70

56

44 46

38

Total # Sales

VA Sales

2008 2009 2010 2011 2012 2013

$763,600

$922,400

$826,000

$1,266,300

$1,481,000

$1,052,400

Dollar Volume

VA Sales

2008 2009 2010 2011 2012 2013

7

6 6

9

10

8

Total # Sales

Condos and Townhomes

2008 2009 2010 2011 2012 2013

$6,183,066

$4,377,525$4,728,500

$5,439,732 $5,246,500$5,754,100

Dollar Volume

Farms and Ranches

2008 2009 2010 2011 2012 2013

$5,836,880$6,086,236

$2,189,170

$3,045,198

$10,195,320

$4,346,000

Commercial

2008 2009 2010 2011 2012 2013

$4,893,900

$1,886,500

$1,334,900$1,616,000

$2,121,000

$3,228,500

Dollar Volume

Water Front Lots

2008 2009 2010 2011 2012 2013

$5,961,999

$1,224,000

$1,869,500 $1,780,300

$2,288,000 $2,118,050

Dollar Volume

Water Front Lots

2008 2009 2010 2011 2012 2013

$170,343

$102,000

$116,844

$161,845

$143,000

$105,903

Average Sold Price

In Conclusion

• TOTAL Dollars Spent on Real Estate for 2013 is the same as 2012, 2012 was UP 21.7 % over 2011, 2011 was UP 6.5 % over 2010

• Residential Sales are 87.5 % of ALL sales

• Conventional Loans are 50 % of HOME sales

• Grove Area sales are 50 % of ALL sales

• South County sales are 35 % of ALL sales

2013 Grand Lake Area Real Estate Market Statistics

www.SlideShare.net/JeffSavage01

Q & A

National Housing Report September 2013

• Home sales and prices in September SEASONABLY lower than August, but higher than September 2012

• Consecutive month of year-over-year increase:

• 20th month for INCREASE in median price• 16th month for days on the market

average below 90 days• Inventory continues to decline at a slower

rate – 13.4 % lower than last year

• 27th month for INCREASE in home sales

PRESENTED BY:

RE/MAX Grand Lake

SPONSORED BY:

2013 Grand Lake Area Real Estate Symposium