Wednesday, July 9, 2014

June, 2014 Real Estate sales data for the Grand Lake, Oklahoma area.


Real Estate Statistics by Wayne “SHORTY” Short

From data provided by NE Oklahoma MLS

YTD, June, 2014
 
 
A Grand Lake O' Cherokee home
 

 

Listing activity:

The Number of residential listings for the Grand Lake area decreased below 1,000 to 995 on June 8, 2014.  A year ago there were almost 1200 homes for sale.  YTD, June, 2014 there are -6.4% less homes available for sale compared to 2013.

YTD, June, 2014 there were -7.5% less new listing placed on the market and for the month of June, 2014 compared to June, 2013 there were -10.4% less new homes listed.

“SOLD” Activity:

YTD for 2014 there were 414 listings (homes) sold, a 6.4% increase from 2013.  June, 2014 compared to the month of June, 2013 there were 70 closings, a 2.8% decline.

Pending activity:

Pending properties (under contract and waiting to close) show a 8.1% increase YTD for 2014 compared to YTD 2013.  The month of June, 2014 shows a 14.1% increase compared to June, 2013.  It appears the real estate market id finally starting to heat up for 2014 after a slow start.

Summary Grand Lake Real Estate Data

Averages                                 2014YTD             2013YTD             % Change

Absorption Rate                     14.08 MO            15.6 MO              -10.15

Average List Price                  $233,075             $225,085               3.55

Average Sale Price                 $170,281             $151,998               12.03

Average D.O.M.                     177 days              16 Days                  6.63

Activity in Various Price Ranges

All sold listings were up 6.4% YTD for 2014 over 2013.  The $100,000 to $300,000 price range of homes showed a 12% increase in YTD 2014 closings over 2013.  Surprisingly the $300,000 to $399,999 price range was the slowest with a -40% drop in closings YTD.  At the same time, the $400,000 to $499,999 price range was up 100% YTD 2014 over 2013.

28 homes have sold so far in 2014 priced over $500,000.  This is a 47.4% increase over 2013.

Current Mortgage interest rates

30 Year Fixed are 4.28%

15 year fixed are 3.40%

5-1 ARM rates are 3.33%

30 Year Fixed Jumbo rates are 4.29%

 

 

Contact:

Wayne “SHORTY” Short

RE/MAX Grand Lake



918-218-6011, Cell

918-786-9888, Office