FALL, 2016 Real Estate Report
Grand Lake, OK
Real Estate activity has been stable for the 1st nine months of 2016. Total sales were 673 units, a decrease of 2.7% from the same period in 2015. That difference is made up by the 88 pending sales that were 15.8% ahead of the same total Sept. 30, 2015.
The listing market continues to tighten and selections are down. There were 891 listing available at the end of September compared to 1013 in 2015. That is a decrease of 12%.
Average list price of all homes on the market is $271,195. This # is on par with 2015. The average home sold was priced at $160,041, again on par with 2015.
For homes sold in the 1st nine months of 2016 the average DOM, Days on Market, was 177 days…..the same as 2015.
In all price ranges there is 12.6 months of inventory based on Homes sold and homes on the market. In the $250,000 to $500,000 range the inventory level goes to 19.6 months and in the $500,000 to $1,000,000 price range there is a 2 year supply of homes available based on the 1st nine months of sales in 2016.
We should see an increase in activity at the lake in the coming year. New businesses being built, a new casino and the new hotel and convention center on Monkey Island should introduce more potential buyers to the “Grand” life at Grand Lake, OK.