Grand Lake Area Real Estate Symposium for 2013 was held Friday, November 8 starting at noon at the Grove Community Center. A light lunch was served at 11:30.
Speakers included Xavier Neira the Oklahoma Director of Development at Manhattan Construction Company, Dan Sullivan of GRDA, and DR. Doug Cox our State Representative. I presented Real Estate Trends – Market Statistics.
From the Grand Lake Area Real Estate Symposium for 2013, here is my presentation on Market Statistics.
Grand Lake Area Real Estate Symposium 2013-Market Statistics
1. 2013 Grand Lake Area
Real Estate Symposium
PRESENTED BY:
RE/MAX Grand Lake
SPONSORED BY:
2. 2013 Grand Lake Area
Real Estate Symposium
Grand Lake Real Estate
Market Statistics
Jeff Savage
3. Real Estate Acronyms,
Terminology and Definitions
DOLLAR VOLUME
Total dollars spent in that property category.
AVERAGE SOLD PRICE
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. Source of Information
Based on information from the Northeast
Oklahoma Board of Realtors®
For the period January 1, 2008
through September 30, 2013
Through THIRD Quarter for Each Year
5. All Property Sales
Dollar Volume
$134,232,070
$118,901,036
$118,271,029
$102,793,746
$94,755,552
$85,390,575
2008
2009
2010
2011
2012
2013
6. All Property Sales
Average Sold Price
$164,734
$146,222
$167,231
2011
2012
$162,684
$143,514
$129,447
2008
2009
2010
2013
7. All Property Sold Transactions
Total # Sales
918
732
711
727
624
595
2008
2009
2010
2011
2012
2013
29. Water Front Lots
Dollar Volume
$5,961,999
$2,288,000
$1,869,500
$2,118,050
$1,780,300
$1,224,000
2008
2009
2010
2011
2012
2013
30. Water Front Lots
Average Sold Price
$170,343
$161,845
$143,000
$116,844
$105,903
$102,000
2008
2009
2010
2011
2012
2013
31. In Conclusion
• TOTAL Dollars Spent on Real Estate for
2013 is the same as
2012,
2012 was UP 21.7 %
over 2011, 2011 was UP 6.5 %
over 2010 Sales are 87.5 % of ALL sales
• Residential
• Conventional Loans are 50 % of HOME sales
• Grove Area sales are 50 % of ALL sales
• South County sales are 35 % of ALL sales
32. 2013 Grand Lake Area
Real Estate Market Statistics
www.SlideShare.net/JeffSavage01
33.
34. National Housing Report
September 2013
• Home sales and prices in September
SEASONABLY lower than
August,
but higher than
September 2012 of year-over-year increase:
• Consecutive month
• 27th month for INCREASE in home sales
• 20th month for INCREASE in median price
• 16th month for days on the market
average below 90 days
• Inventory continues to decline at a slower
rate – 13.4 % lower than last year
35. 2013 Grand Lake Area
Real Estate Symposium
PRESENTED BY:
RE/MAX Grand Lake
SPONSORED BY:
Hinweis der Redaktion
We’ve heard about the NATIONAL real estate market and what has been going on . . . . .But . . . . Real Estate is LOCAL, so let’s focus on the LOCAL market – our 4 counties in Northeast Oklahoma – Delaware, Ottawa, Craig and Mayes.
Here are a few terms we will use today:Dollar Volume – TOTAL dollars spent in that categoryAverage Sold Price - TOTAL dollars spent divided by number of units soldLuxuryHome Market – We took the upper 5% of the market, which in this case was $500,000 and up
Based on information from the Northeast Oklahoma Board of Realtors for the period January 1, 2008 through September 30, 2013This study includes MOST but NOT ALL real estate activityThis is looking through the THIRD QUARTER for each year
For ALL Real Estate, let’s look at area market performance for the last 6 years - 2008 to 2013We will often focus on the last 3 years – 2011, 2012 & 20132013 was $118 million – same as 20122012 UP 21.7 % from 20112011 UP 6.5 % from 2010
For ALL Real Estate, let’s look at area market performance for the last 6 years - 2008 to 2013We will often focus on the last 3 years – 2011, 2012 & 20132013 was $118 million – same as 20122012 UP 21.7 % from 20112011 UP 6.5 % from 2010
Looking at the Number of SOLD Transactions for ALL Property Types, we see a pattern similar to Total Market VolumeThe average for the last three years - around 690 transactions / year.
Looking at the Number of Listings in Inventory for ALL Property Types, we see that have DECREASED since 2008The average for the last three years - around 3,800 listings / year.
Now, let’s look at our Financing SourcesLooking at Residential Home SalesConventional and CASH make up 80 % of Residential salesFHA is the next largest at 4 %Residential Sales represent 87.5 % of Total Dollar Volume, & 83 % of Total Transactions
If we continue to look at Water Front Homes, we see Average Sold Price numbers have steadily risen, after a drop in 2009
Now, let’s look at our Financing SourcesLooking at Residential Home SalesConventional and CASH make up 80 % of Residential salesFHA is the next largest at 4 %Residential Sales represent 87.5 % of Total Dollar Volume, & 83 % of Total Transactions
When we look at Water Front Homes, we see Dollar Volume ABOVE 2008 levelsThe average for the last three years is $56 million now 50 % of ALL market activity UP slightly over 2012
If we continue to look at Water Front Homes, we see Average Sold Price numbers have steadily risen, after a drop in 2009
Luxury Homes ($500,000 or more) have performed well last 3 yearsThey are on the rise again and now 23 % of the total marketIn 2011 we sold 29 Luxury Homes, and last year sold 33
Luxury Homes ($500,000 or more) have performed well last 3 yearsThey are on the rise again and now 23 % of the total marketIn 2011 we sold 29 Luxury Homes, and last year sold 33
When we look at theNON-Water Front homes,The average for the last three years is $42 million now 38 % of ALL market activityAverage Sold Price forNON-Water Front homes,is down slightly to $101,700
When we look at theNON-Water Front homes,The average for the last three years is $42 million now 38 % of ALL market activityAverage Sold Price forNON-Water Front homes,is down slightly to $101,700
Conventional Financing is ABOVE 2008 levels and represents 48 % of ALL Residential Financing TransactionsUP 6 % from 2012
Conventional Financing is ABOVE 2008 levels and represents 48 % of ALL Residential Financing TransactionsUP 6 % from 2012
CASH has Consistently IMPROVED throughout the last FIVE years and represents 32 % of ALL Residential Financing Transactions
CASH has Consistently IMPROVED throughout the last FIVE years and represents 32 % of ALL Residential Financing Transactions
CASH has Consistently IMPROVED throughout the last FIVE years and represents 32 % of ALL Residential Financing Transactions
CASH has Consistently IMPROVED throughout the last FIVE years and represents 32 % of ALL Residential Financing Transactions
CASH has Consistently IMPROVED throughout the last FIVE years and represents 32 % of ALL Residential Financing Transactions
CASH has Consistently IMPROVED throughout the last FIVE years and represents 32 % of ALL Residential Financing Transactions
Condos and Townhouses now represent 5 % of the market up 10 % over 2012
Farms and Ranches now represent 4 % of the market
Commercial Property now represent 3 % of the market
Looking at Water Front LOTS we see five slow yearsThey are a small segment of market activity or 2 % of the market
Looking at Water Front LOTS we see five slow yearsThey are a small segment of market activity or 2 % of the market
TOTAL Dollars Spent on Real Estate for 2013 is the same as 2012, 2012 was UP 21.7 % over 2011, 2011 was UP 6.5 % over 2010Residential Sales are 87.5 % of ALL salesConventional Loans are 50 % of HOME salesGrove Area sales are 50 % of ALL salesSouth County sales are 35 % of ALL sales
For the entire Real Estate Market Statistics slide show, go to SlideShare.net/JeffSavage01
National Housing Report for September 2013Home sales and prices in September were SEASONABLY lower than August, but HIGHER than September 2012consecutive month for year-over-year increases27th for home SALES20th for median PRICE16th for DAYS on the market average below 90 daysSeptember home sales UP 10.7 % and Median Price was UP 12.2 % above price in September 2012Inventory continues to decline at a slower rate – 13.4 % lower than last yearNumber of months of inventory rose to 5.0, closer to 6-month supply recognized as balanced market with equal number of buyers and sellers