What's New in Lake of the Ozarks Real Estate? February 2024 Market Update
Your February 2024 lake of the Ozarks market update 📊
Let's start by taking a look at average sales price...
This year, we've witnessed an approximate 8% increase with the current average sitting around $447,000.
This is huge for anyone considering selling their home as there could be hidden equity... click the link in the comments to check on your home value!
The next stat we look at is the number of new listings, this tells us over the last 30 days how many homes have hit the market...
The good news... our market is picking up with an INCREASE of 15% year over year...
This is massive for buyers struggling with low inventory! So if you haven't looked at what's available in a while, now may be the perfect time with 266 new listings on the market in the last 30 days.
and if you're wondering what the overall inventory looks like - there are at total of 846 homes on the market!
You may be asking... ok, but how many of those homes are actually closing and how long are they sitting on the market? Well... more good news... there was a 31 % increase to 114 closed sales AND homes are sitting on the market for an average of 50 days.
So.... why is all of this good news? The market has kind of been like a Los Angeles grid-locked traffic jam for the last few months with very little wiggle room for buyers and sellers alike.
These stats show us that the market is gaining massive momentum... and if it's gaining momentum at the beginning of February... just imagine what it'll be like this summer!!
If you're even considering buying or selling, it's never too early to start planning. It's so important to speak with a trusted Real Estate Agent.
Our agents are engrained in our marketplace, with a deep knowledge and understanding of local conditions.
We'd love to get you started with a FREE home valuation. Check in on where your value is at, and who knows... maybe the number will shock you!