PRESENTED BY:
Jeff SavageRealtor - CRS, E-Pro, SRES
RE/MAX Grand Lake
2016 Grand Lake Area Real Estate Trends
2016 Grand Lake Area Real Estate Trends
www.SlideShare.net/JeffSavage01
Total dollars spent in that property category.
Real Estate Acronyms, Terminology and Definitions
DOLLAR VOLUME
AVERAGE SOLD PRICE
Total Dollars Spent divided by number of units sold in that property category.
Luxury Home MarketIn this instance, we will simply use the price point representing the upper 5% of the market, or $500,000+
Source of Information
For the period January 1, 2007 through December 31, 2016
• Based on information from the Northeast Oklahoma Board of Realtors®
Sales Volumes
• Represented as Dollar Volume in a Category
All Property Sales
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$199,065,317
$171,559,949
$125,457,074$119,843,085
$127,567,682
$155,397,922$156,792,161
$173,198,120$170,274,084
$174,451,405
Dollar Volume
Residential Sales
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$154,400,339
$135,967,732
$106,391,858$102,288,460
$111,388,218
$127,524,518$137,025,450
$144,812,505$142,665,906
$150,099,600
Dollar Volume
Residential Waterfront
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$69,725,986$66,767,086
$46,299,150$49,067,635
$58,060,405
$69,526,355
$77,038,246$79,806,222
$66,065,328
$75,557,645
Dollar Volume
Residential (not Water Front)
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$84,674,353
$69,200,646
$60,092,708
$53,220,825 $53,327,813$57,998,163
$59,987,204$65,006,283
$76,600,578$74,541,955
Dollar Volume
Luxury Home Market
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$26,832,200
$31,054,400
$15,868,500$19,508,210
$23,839,600
$32,289,500$32,502,971
$36,446,450
$28,245,650
$35,002,500
Dollar Volume
Water Front Lots
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$14,374,950
$6,421,999
$2,808,850 $3,411,375$2,835,300
$5,995,737
$2,715,300
$4,737,500
$3,326,500$2,318,600
Dollar Volume
Condos and Townhomes
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$10,082,750
$7,011,516
$5,694,525$6,185,500
$7,108,232
$5,990,000
$8,203,600
$6,251,300
$5,199,056
$8,780,699
Dollar Volume
Farms and Ranches
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$13,118,100
$7,817,380$7,995,861
$4,828,470$4,228,334
$11,467,820
$6,679,400
$11,918,905
$13,363,744
$8,580,200
Commercial
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$9,417,500
$5,648,400
$2,290,000$2,897,900
$1,686,000
$3,047,500
$4,685,400 $4,487,000
$3,612,385
$7,487,350
Dollar Volume
Average Unit Price
• Represented as Dollar Volume / Units in a Category
Residential Waterfront
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$311,277
$358,963
$291,190
$333,793 $335,609$345,902 $342,392 $338,162 $340,543 $338,824
Average Sold Price
Residential (not Water Front)
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$94,503 $96,380 $95,842
$106,018$101,965 $101,751 $100,989 $101,256
$114,843 $111,257
Average Sold Price
Luxury Home Market
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$706,111
$796,267
$721,295
$780,328
$722,412
$750,919
$792,755 $792,314
$706,141$714,337
Average Sold Price
Water Front Lots
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$266,203
$173,568$147,834
$136,455
$166,782
$249,833
$104,435
$143,561
$184,806
$79,952
Average Sold Price
Financing Sources
• Represented as Residential Dollar Volume in a Source Category
All Residential Sales
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$154,400,339
$135,967,732
$106,391,858$102,288,460
$111,388,218
$127,524,518$137,025,450
$144,812,505$142,665,906
$150,099,600
Dollar Volume
Conventional Loans
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$91,154,139
$63,289,586
$56,430,899
$48,401,234$51,062,943
$61,306,542$66,582,745
$75,157,099$67,814,541
$69,847,073
Dollar Volume
Cash Sales
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$28,711,604$32,421,082
$26,034,680
$32,731,016 $33,173,688$34,857,391
$42,756,759
$55,987,281$56,743,172
$59,959,414Dollar Volume
FHA Loans
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$8,753,299
$10,058,464
$8,832,228
$5,868,310$6,541,987 $6,909,992
$5,228,626
$6,623,375
$7,445,575
$8,662,849
Dollar Volume
VA Loans
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
$528,151
$945,500
$1,456,800 $1,695,800 $1,517,300
$1,975,900 $2,026,300
$4,427,010
$5,483,105
$4,705,590
Dollar Volume
Sales Counts
• Represented as Number of Units in a Category
All Property Listings
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
5,138 4,9704,765
4,490 4,458 4,5864,292 4,225 4,170 4,007
Active Listings
All Property Sales
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
1,424
1,159
969
803 830
957 9811,082 1,049 1,098
Total # Sales
Residential Sales
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
1,120
904
786
649 696771
819878 861 893
Total # Sales
Conventional Loans
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
602
383 363
286 300 327 337371 370 352
Total # Sales
Cash Sales
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
232 239212
194225
250
316
378353
372
Total # Sales
FHA Loans
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
123 124
91
6662 64
5262 64
77
Total # Sales
VA Loans
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
6
9 10
12 1113 14
3033 34
Total # Sales
In Conclusion
• Water Front Homes continue to bring buyers to Grand Lake.
• The numbers show thelocal real estate market is strong.
• Real estate is local, and Grand Lake is a unique housing market.
• Non Water Front Homes make a significant contribution to the market.
2016 Grand Lake Area Real Estate Trends
www.SlideShare.net/JeffSavage01
PRESENTED BY:
Jeff SavageRealtor - CRS, E-Pro, SRES
RE/MAX Grand Lake
2016 Grand LakeArea Real Estate Trends