The 2nd quarter and first half of 2014 Real Estate market analysis for Grand Lake, courtesy of Jeff Savage with RE/MAX Grand Lake, has been released and it’s safe to say that Real Estate at Grand Lake is going very strong right now.
Whether you are in the Grove area or South Grand Lake, now is a great time to be considering selling your home because people are buying and the demand for real estate at Grand Lake seems to be as strong as it ever has been.
Basically, every key real estate statistic for the Grand Lake area is up so far in 2014, with the exception of commercial real estate.
Among the two big residential indicators for the Grand Lake real estate market:
– Total dollars spent on homes is up 22.7% from last year (2013).
– Total number of homes sold is up 9.9%.
And yes, waterfront real estate at Grand Lake is doing very, very well right now.
Here are some of the key metrics for Grand Lake waterfront homes:
– Dollars spent on Waterfront Homes is up 28.3%
– Dollars spent on Luxury Homes ($500,000 +) is up 54.7%
– The Number of Luxury Homes sold is up 47.4%
This should indicate to anyone considering selling the lakefront home at Grand Lake right now, in the summer of 2014, that the buyers are out there and are ready, willing and able to by your waterfront home.
And to break things down by general location, we find that:
– Dollars spent on Grove area homes is up 22%
– Dollars spent on ‘South’ counties homes is up 41.7%.
But it’s not just the homes market that is seeing positive trends so far in 2014.
Vacant land and lots, waterfront lots and farm sales are all well outpacing their 2013 numbers.
One more thing…as you’d expect with the number and dollar amount of residential sales being so strong, both conventional financing and cash sales are strong, with the number of cash sales up a staggering 73.2%.
And don’t let the commercial sales being down fool you.
It’s important to remember that commercial real estate historically rallies after residential real estate, with the influx of home buyers, potential customers and potential employees driving commercial investors and business owners to jump back in to commercial real estate.
And that same thing holds true here in the Grand Lake area and Northeast Oklahoma.
So with residential trends being so strong, expect the commercial indicators to begin rallying in the 2nd half of 2014 and in 2015.
You can see the SlideShare that Jeff put together with more complete statistics at this link: http://www.slideshare.net/JeffSavage01
All of these statistics have been compiled by Jeff Savage with RE/MAX Grand Lake in Grove and are based on information from the Northeast Oklahoma Board of Realtors from the period January 1, 2104 through June 30,2014.
The Northeast Oklahoma Board of Realtors covers the Grand Lake area, and does include Miami and Ottawa County as well as pulling in some sales and data from rural areas of Craig, Mayes and Delaware Counties.
Make sure to call Jeff for all of your real estate needs at (918) 791-1039 or visit his website at www.sellinggrandlake.com.