Grand Lake Real Estate Symposium Facts and Figures on Real Estate SalesSaturday, June 28th, 2008
June 19, 2008 a Grand Lake Real Estate Symposium was held at the Royal Bay Theater by Sailboat Bridge in Grove, Oklahoma. Jeff Savage of RE/MAX Grand Lake in Grove and Monkey Island present the Northeast Board of Realtors facts and figures on real estate sales in the Grand Lake area. The figures may surprise you. A recap of the presented numbers is–
Total Sales by Dollar Volume
2004 $135,612,678 2005 $180,984,207 2006 $215,821,577 2007 $199,346,217
Residential Waterfront Homes
2004 $46,263,069 2005 $58,573,476 2006 $78,829,160 2007 $69,725,986
Average Waterfront Home Sale Price
2004 $221,354 2005 $251,388 2006 $306,728 2007 $311,277
Luxury Home Market Total Sales
2004 $5,764,500 2005 $9,512,900 2006 $28,120,161 2007 $26,832,000
Average Luxury Home Price
2004 $632,850 2005 $764,577 2006 $776,123 2007 $741,763
Average Days on Market for Sale
2004 145 2005 131 2006 131 2007 121
The numbers show a strong local real estate market.
Waterfront Homes and Lots bring buyers to Grand Lake and continue to be the strongest segment of the market
Real Estate is local and the Oklahoma market remains strong despite problems from California, Nevada, Florida and Arizona were prices shot up sometimes at the rate of 25-50% a year until they busted. The Oklahoma market has trended up modestly and remains with steady to slightly higher prices.
Chuck Perry of RE/MAX Grand Lake reported that while neither he nor Jeff Savage, who reported the above numbers, had figures for 2008 that the RE/MAX Grand Lake sold numbers totals were off 3% from 2007 numbers for the first 5 months of 2008. Much of this can be attributed to bad spring weather in 2008, Mr. Perry reported.
The numbers don’t lie, Grand Lake real estate sales numbers and prices are holding up nicely in a poor national market. The Oklahoma market did not go up as fast or as much as the east and west coast markets nor are they declining. Real Estate is a good long term buy in Oklahoma.
For information on the real estate market or to get assistance in finding your place at Grand Lake call Aaron Hughes at 918 801-5645 or Joe Neill at 918 640-3300. We are the Grand Lake Team at RE/MAX Grand Lake.