Grand Lake OK 2005 - 2009 Real Estate Market Analysis

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We conducted a Grand Lake Area Real Estate Symposium recently for 100 local business, government and Real Estate people. …

We conducted a Grand Lake Area Real Estate Symposium recently for 100 local business, government and Real Estate people.

The speakers included the Region Vice President for NAR, the Region Department of Commerce representative, the Oklahoma House of Representative member, and me, Jeff Savage.

For that Symposium, I prepared an in-depth study of the local Real Estate market – analyzing the last five years.

This presentation is an updated version covering years 2005 to 2009.

More in: Real Estate
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  • 1. 2010 Grand Lake Area MLS Statistics
  • 2. Real Estate Statistics
    Jeff Savage
    2010 Grand Lake Area
  • 3. Real Estate Acronyms, Terminology and Definitions
    Total dollars spent in that property category.
    Total Dollars Spent divided by
    number of units sold in that property category.
    Luxury Home Market
    In this instance, we will simply use
    the price point representing
    the upper 5% of the market, or $500,000+
  • 4. Signs of a Seller’s Market
    • Inventory is Low
    • 5. Comparable Sale Prices are Lower than Active Listing Prices
    • 6. Median Sale Prices are Increasing
    Days on Market will be Decreasing
  • 7. Signs of a Buyer’s Market
    • Inventory is high
    • 8. Median Sale Prices are Decreasing
    • 9. Comparable Sale Prices are Higher than Active Listing Prices
    Days on Market is Increasing
  • 10. Source of Information
    • Based on information from the Northeast Oklahoma Board of Realtors®
    For the period January 1, 2005
    through December 31, 2009
  • 11. All Property Types
  • 12. All Property Types
  • 13. Residential Waterfront
  • 14. Residential Waterfront
  • 15. Residential (not Water Front)
  • 16. Residential (not Water Front)
  • 17. Luxury Home Market
  • 18. Luxury Home Market
  • 19. Water Front Lots
  • 20. Water Front Lots
  • 21. Condos and Townhomes
  • 22. Farms and Ranches
  • 23. Commercial
  • 24. Number of Sold Transactions
  • 25. Days on the Market
  • 26. FINANCING Sources
    • Residential Homes Sales
    Conventional, FHA, VA & CASH
    • OTHER – covers all other sources, including “Other”, “Owner Carry” and “Private”
  • ALL Finance Types – Residential Sales
  • 27. CONVENTIONAL Financing
  • 28. FHA Financing
  • 29. VA Financing
  • 30. CASH Financing
  • 31. OTHER Financing
  • 32. In Conclusion
    • The numbers show a
    local real estate market slowdown.
    Water Front Homes and Lots bring buyers to Grand Lake, and but non-water front seems to have held on better, recently.
    • Real estate is local, and Oklahomans are not buying or selling their homes
    in a national housing market.
  • 33. 2010 Grand Lake Area MLS Statistics
  • 34. Q & A