Tuesday, April 12, 2016

Grand Lake Real Estate report for March, 2016

Grand Lake Real Estate Report
1st Quarter, 2016

Grove, Oklahoma was just ranked the #1, best town (under 100,000 population) to retire in Oklahoma.  Niche.com did the ranking and they rank and have data with local rankings and stats on virtually every city in the United States.  Vinita was ranked #9.

Rankings are based on Residents over 65, Retiree new comers, monthly housing costs, crime and safety stats, Property tax levels, weather, and access to doctors, golf, grocery stores, libraries, recreation & fitness and places to eat.

The 1st Quarter of 2016 showed a 4.4% increase in residential sales at the lake over 2015.  Pending sales for the same period are up 13.7% showing the lake area has not been hurt too badly by declining oil prices and employment in the energy sector in Oklahoma.

The average price of a home sold in March and the 1st quarter of 2016 was higher than the same period in 2015.  $139,223 for the 1st quarter 2015 compared to an 16.62% increase to $162,360 for this year.  Average days on the market of sold listings has remained constant around 6 months.  There currently is a 12 month supply of homes for sale at the lake compared to 3-5 months in most metro areas in the 4 state areas.  Total listings are down 4% year over year and new listings coming on the market are barely up 2.3% for the 1st quarter of 2016.  These numbers should continue to stabilize prices for the rest of the year.
Contact Wayne "SHORTY" Short for specific real estate information for the Grand Lake area in NE Oklahoma. Cell: 918-218-6011 and wayne.short@remax.net.