2010 Grand Lake Area MLS  Statistics   www.SlideShare.net/JeffSavage01
Real Estate Statistics Jeff Savage 2010 Grand Lake Area
Source of Information <ul><li>For the period January 1, 2005 - through June 30, 2010 </li></ul><ul><li>FIRST HALF OF EACH ...
All Property Types
All Property Types
Residential Waterfront
Residential Waterfront
Residential   (not Water Front)
Residential  (not Water Front)
Luxury Home Market
Luxury Home Market
Number of Sold Transactions
 
Source of Information <ul><li>For the period January 1, 2005 - through December 31, 2009 </li></ul><ul><li>FULL YEAR COMPA...
Farms and Ranches
Condos and Townhomes
Commercial
Water Front Lots
FINANCING  Sources <ul><li>Conventional, CASH, & FHA </li></ul><ul><li>Residential Homes Sales </li></ul><ul><li>OTHER – c...
ALL Finance Types – Residential Sales
CONVENTIONAL  Financing
CASH  Financing
FHA  Financing
In Conclusion <ul><li>Water Front Homes and Lots bring buyers to Grand Lake. </li></ul><ul><li>The numbers show a </li></u...
2010 Grand Lake Area  MLS Statistics www.SlideShare.net/JeffSavage01
 
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Grand Lake OK 2005 - 2010 First Half of Year Real Estate Market Analysis

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Grand Lake Oklahoma Real Estate Statistical Analysis. Focused on the first half performance 2010 compared to first HALF for preceeding 5 years. Also analyzed the areas with biggest change looking at FULLyears for the last five years.

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  • Don’t try to make notes, I am covering a lot of information in a very short time – it’s all on SLIDESHARE I am Jeff Savage with RE/MAX Grand Lake MLS Chairperson 2003 to 2008 – the MLS expert
  • I Presented Real Estate Statistics at the Grand Lake Area Real Estate Symposium in 2008 – I have updated that presentation for 2005 to 2009 - &amp; 2010 O.K. Do you want to hear the “good” news, or the “bad” news. Lately the “bad” news wins out. Let’s try to find some “good” news to share. . . . . . . . . . Real Estate is LOCAL, so let’s focus on the LOCAL market – our 4 counties in Northeast Oklahoma – Delaware, Ottawa, Craig and Mayes.
  • Based on information from the Northeast Oklahoma Board of Realtors for the period January 1, 2005 through June 30, 2010 This study looks at FIRST HALF OF EACH YEAR - ONLY
  • Let’s look at first HALF activity for each of the last 6 years - 2005, 2006, 2007, 2008, 2009 &amp; 2010 All Property Sold – Total Dollars Spent After a VERY SPECIAL year in 2006, we have come back back to near 2005 levels
  • After some pretty consistent years, Average Sold Price decreased in 2009 &amp; returns to normal levels in 2010
  • When we look at Water Front Homes, we see Dollar Volume decreased in 2009 after some fairly stable years &amp; a turn toward 2005 levels in 2010 Represent 39% of Total Sales – 42% in 2008
  • If we continue to look at Water Front Homes, Average Sold Price numbers declined in 2009 &amp; a return to more normal levels in 2010
  • Looking at NON-Water Front homes, we see a pattern similar to ALL Property Types with Dollar Volumes decreasing Represent 49% of Total Sales - Down from 55% in 2009
  • When we look at the Average Sold Price for NON-Water Front homes, the average has shown some slight increases over the years
  • Luxury Homes ($500,000 or more) have performed well in 2006, 2007 &amp; 2008 We see some nice recovery in 2010 - after a decline in 2009 Represent 15% of Total Sales up from 8.5% last year – down from 19% in 2008 2005 – 7 2006 – 22 2007 – 17 2008 – 19 2009 – 6 2010 – 12 – double 2009 levels in number and increased dollar amount
  • The Average Sold Price for Luxury Homes, dropped a bit this year We have an artificial floor of $500,000 – we are closer to that BIG sales are less frequent
  • If we look at the Number of Transactions for ALL Property Types, we see decreases similar to the trends we saw with Total Market Volume We continue our search for buyers
  • This is not our time for Q &amp; A – we will get to that at the end. Let’s take some common Questions for us to answer: What does all of this mean ? What is effected most in this market? Let’s treat 2006 as a “SPECIAL” year. We have seen since 2006 that we have been adjusting back to 2005 levels. Let’s shift our focus to the FULL YEARS 2005, 2006, 2007, 2008 &amp; 2009 &amp; look at a couple of elements in our market TYPES of SALES – Farms &amp; Ranches, Condos, Commercial &amp; Water Front Lots, ( non-Residential types of property) TYPES of FINANCING – for Residential we will look at Conventional, CASH &amp; FHA
  • Based on information from the Northeast Oklahoma Board of Realtors for the period January 1, 2005 through December 31, 2009 FULL YEAR COMPARISON
  • For Farms and Ranches we see decreases in 2008 &amp; 2009 They now represent 6% of the market up from 4.6% in 2008
  • For Condos and Townhouses after four years of increases we see a decrease in 2009 They now represent 5% of the market – down from 10% in 2008 Unit ownership, HOA dues, common areas &amp; facilities, gate, caretaker
  • For Commercial Property we see a decrease in 2008 &amp; a further decline in 2009 They now represent 2% of the market – down from 3.3% in 2008 – down from 6% in 2005
  • Looking at Water Front LOTS we see a decline after four pretty solid years a small segment of the market – 1% of the market – down from 3% in 2008
  • Now, let’s look at our Financing Sources for Residential Home Sales Conventional, CASH &amp; FHA make up the largest segments OTHER Financing Sources include VA, “Other”, “Owner Carry” &amp; “Private”
  • For ALL Finance Type Transactions for Residential Sales, the pattern looks much like the Total Sales for ALL Property Types Residential Sales represent 85% of Total Dollar Volume, &amp; 78% of Total Transactions –pretty consistent %age over the years
  • Conventional Financing has dropped off in 2008 &amp; 2009 and 46% of ALL Financing Transactions down from 61% in 2006
  • CASH has remained relatively constant throughout the last 5 years 27% of ALL Financing Transactions – up from 21% in 2006
  • FHA Financing has dropped off in 2009 – NOT the big increase that so many assumed 12% of ALL Financing Transactions – down from 14% last year But up from 8% in 2006
  • So . . . . The numbers show us we have a slightly weaker local real estate market, closer to 2005 levels Water Front Homes &amp; Lots bring buyers to Grand Lake. Non-Water Front homes are still around 50% of the market “ Real Estate is LOCAL . . . And Oklahomans are not buying or selling these homes in a national housing market.”
  • Remember, it is all on SlideShare Full Year 2003 to 2007, Full Year 2005 to 2009 and First Half 2005 to 2010
  • Transcript of "Grand Lake OK 2005 - 2010 First Half of Year Real Estate Market Analysis"

    1. 1. 2010 Grand Lake Area MLS Statistics www.SlideShare.net/JeffSavage01
    2. 2. Real Estate Statistics Jeff Savage 2010 Grand Lake Area
    3. 3. Source of Information <ul><li>For the period January 1, 2005 - through June 30, 2010 </li></ul><ul><li>FIRST HALF OF EACH YEAR - ONLY </li></ul><ul><li>Based on information from the Northeast Oklahoma Board of Realtors® </li></ul>
    4. 4. All Property Types
    5. 5. All Property Types
    6. 6. Residential Waterfront
    7. 7. Residential Waterfront
    8. 8. Residential (not Water Front)
    9. 9. Residential (not Water Front)
    10. 10. Luxury Home Market
    11. 11. Luxury Home Market
    12. 12. Number of Sold Transactions
    13. 14. Source of Information <ul><li>For the period January 1, 2005 - through December 31, 2009 </li></ul><ul><li>FULL YEAR COMPARISON </li></ul><ul><li>Based on information from the Northeast Oklahoma Board of Realtors® </li></ul>
    14. 15. Farms and Ranches
    15. 16. Condos and Townhomes
    16. 17. Commercial
    17. 18. Water Front Lots
    18. 19. FINANCING Sources <ul><li>Conventional, CASH, & FHA </li></ul><ul><li>Residential Homes Sales </li></ul><ul><li>OTHER – covers all other sources, including VA, “Other”, “Owner Carry” and “Private” </li></ul>
    19. 20. ALL Finance Types – Residential Sales
    20. 21. CONVENTIONAL Financing
    21. 22. CASH Financing
    22. 23. FHA Financing
    23. 24. In Conclusion <ul><li>Water Front Homes and Lots bring buyers to Grand Lake. </li></ul><ul><li>The numbers show a </li></ul><ul><li>local real estate market slowdown. </li></ul><ul><li>Real estate is local, and Oklahomans are not buying or selling their homes </li></ul><ul><li>in a national housing market. </li></ul>
    24. 25. 2010 Grand Lake Area MLS Statistics www.SlideShare.net/JeffSavage01
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