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2010 Grand Lake Area MLS Statistics
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Real Estate StatisticsJeff Savage2010 Grand Lake Area
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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+
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Signs of a Seller’s Market
• Days on Market will be Decreasing
• Inventory is Low
• Comparable Sale Prices are Lower than Active Listing Prices
• Median Sale Prices are Increasing
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Signs of a Buyer’s Market
• Days on Market is Increasing
• Inventory is high
• Comparable Sale Prices are Higher than Active Listing Prices
• Median Sale Prices are Decreasing
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Source of Information
For the period January 1, 2005 through December 31, 2009
• Based on information from the Northeast Oklahoma Board of Realtors®
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All Property Types
2005 2006 2007 2008 2009
$180,984,207
$215,821,577
$199,346,217
$171,888,448
$126,150,874
Dollar Volume
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All Property Types
2005 2006 2007 2008 2009
$123,286
$136,682
$139,696
$147,417
$129,120
Average Sold Price
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Residential Waterfront
2005 2006 2007 2008 2009
$58,573,476
$78,829,160
$69,725,986 $66,586,086
$46,299,150
Dollar Volume
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Residential Waterfront
2005 2006 2007 2008 2009
$251,388
$306,728 $311,277
$359,925
$291,190
Average Sold Price
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Residential (not Water Front)
2005 2006 2007 2008 2009
$78,454,796
$93,507,208
$84,763,253
$69,697,145
$60,778,608
Dollar Volume
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Residential (not Water Front)
2005 2006 2007 2008 2009
$88,750
$97,913
$94,391
$96,134 $95,865
Average Sold Price
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Luxury Home Market
2005 2006 2007 2008 2009
$9,512,900
$28,120,161$26,832,000
$31,054,400
$15,868,500
Dollar Volume
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Luxury Home Market
2005 2006 2007 2008 2009
$764,577
$776,123
$741,763
$796,267
$721,295
Average Sold Price
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Water Front Lots
2005 2006 2007 2008 2009
$4,334,550 $4,123,000
$5,558,450 $5,386,999
$1,693,850
Dollar Volume
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Water Front Lots
2005 2006 2007 2008 2009
$103,204 $108,500
$146,275
$158,411
$105,866
Average Sold Price
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Condos and Townhomes
2005 2006 2007 2008 2009
$4,672,950$6,088,450
$10,082,750
$17,094,266
$5,694,525
Dollar Volume
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Farms and Ranches
2005 2006 2007 2008 2009
$11,475,540
$15,467,794
$13,293,100
$7,907,380 $7,995,861
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Commercial
2005 2006 2007 2008 2009
$10,349,300
$8,936,375$9,434,500
$5,648,400
$2,290,000
Dollar Volume
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Number of Sold Transactions
2005 2006 2007 2008 2009
1,468
1,579
1,427
1,166
977
Total # Sales
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Days on the Market
2005 2006 2007 2008 2009
131 131
121
160 161
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FINANCING Sources
• Conventional, FHA, VA & CASH
• Residential Homes Sales
• OTHER – covers all other sources, including “Other”, “Owner Carry” and
“Private”
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ALL Finance Types – Residential Sales
2005 2006 2007 2008 2009
1,090
1,177
1,065
870
757
Total # Sales
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CONVENTIONAL Financing
2005 2006 2007 2008 2009
630
715
571
371 347
Total # Sales
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FHA Financing
2005 2006 2007 2008 2009
10395
123 125
94
Total # Sales
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VA Financing
2005 2006 2007 2008 2009
5
9
6
9
10Total # Sales
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CASH Financing
2005 2006 2007 2008 2009
276
243226 236
207
Total # Sales
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OTHER Financing
2005 2006 2007 2008 2009
47 46
28
40
44
Total # Sales
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In Conclusion
• Water Front Homes and Lots bring buyers to Grand Lake, and but non-water front seems to have held on better, recently.
• The numbers show alocal real estate market slowdown.
• Real estate is local, and Oklahomans are not buying or selling their homes
in a national housing market.
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2010 Grand Lake Area MLS Statistics
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Q & A