Monday, January 15, 2018

2017 residential Real Estate sales at Grand Lake, Oklahoma


2017 Sales Analysis for the NE Oklahoma MLS and Selected Areas.
January, 2018
Grand Lake O'Cherokees



                                                                 Winter at the Lake




Entire MLS:        

1040 residential sales compared to 918 in 2016, a 13%

increase.  $178,400 average price in the 4 county areas.



Delaware County:

584 homes sold with an average price of $220,100.

Total residential sales exceeded $128 million in value.  1/4th    of all sales

were homes over $300,000.  1/3rd of all sales were homes from

$140,000 to $300,000.  40% of all sales were for cash. 48% sold with 

conventional loans and 9% sold either FHA or VA.



Grove:

313 homes sold compared to 291 in 2016, a 7% increase in sales.  Over

$68,000,000 residential sales in Grove during 2017…1/2 of Delaware

counties total sales.  The time to sell all active listing in the area (the

absorption rate) has dropped from around 12 months in 2016 to less

than 9 months last year.

The consensus is that homes are selling faster, there is less inventory to

choose from, prices are starting to finally increase and

homes are selling for a higher % of their last listed price.



Now is the time for more new construction in the area.  Now is the time

For sellers to get their properties listed so that buyers have a greater

choice.  2018 looks like a great year for buyers and sellers in the Grand

Lake area.





Data by the NE Oklahoma MLS.  Not audited, Analysis provided by Wayne Short, Broker, RE/MAX Grand Lake