Lake of the Ozarks Real Estate Market Trends and Insights for March 2023
...it's right NOW! ⌛
Yes, this could be could be the opportunity you've been waiting for. Despite the increase in interest rates, our local real estate market at the Lake of the Ozarks is still going strong.
To better understand what's going on, let's dive deep into 4 basic stats...
1️⃣ Number of Homes on the Market
Last month, we had 778 homes available, and this month it increased to 844. This tells us how much inventory is available for a buyer on the market.
2️⃣ Average Sales Price
This tells us what the average home is selling for month over month. The average sales price has dropped month over month to $356,000.
3️⃣ Number of Homes Sold
Last month, we had 86 sales, and this month it increased significantly to 134. This tells us that the spring market is here, and buyers are active and looking for properties.
4️⃣ Average Sales Price vs. List Price
At the Lake of the Ozarks, this number adjusts significantly because we have a wide array of properties available, including Lakefront, Lake View, and off of the water properties.
Last month, it was 94, and this month it is 96, which is still pretty steady. This means that on average over the last month, the average house sold for 96% of what it was listed for.
✅ If you're a buyer, you have a little bit of negotiating room
✅ If you're a seller, it's crucial to price your home appropriately because of what the market is demanding at this time.
The spring real estate market is here. Don't wait for the market to get better or for the weather to improve!🌸
Our team at Matt Smith Real Estate Group is here to help. We have access to the top tools and marketing strategies, which continue to make us the #1 Team in the state of Missouri and the #8 team in the nation.
We would love to navigate with you through this process because buying or selling a home is one of the most important financial decisions of your life.
Ready to get started? Click the link in the comments to get access to our FREE Home Evaluation.