Lake of the Ozarks Real Estate - YEAR IN REVIEW 2019

Dated: January 2 2020

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The Lake of the Ozarks real estate market is STABLE with Average Year-over-Year Price growth of 5 % (similiar to National average).
 
With favorable low mortgage rates around 3.625 %, many homebuyers have been able to afford a more expensive home than they previously thought- even deciding to purchase a house instead of a condo.
 
Inventory shortages across the US also plague the Ozarks. Though we are beginning to see new housing construction (currently 55 properties on the market), we have 1/2 the number of active listings (around 1200) than we had back in 2014 (closer to 2300) at this same time.
 
This shortage is driving up demand and home prices.
 
If you are a potential Seller -- you could see multiple offers but only if you don't have much competition so list your property before season starts! Price your property "realistically" and prepare your home accordinly and you will get offers and it will sell.
 
If you are a potential Buyer -- make sure you are prequalified with your lender (or have bank letter with proof of funds) prior to making your offer. With demand so high, first come first served! If you like it, buy it... don't wait for the next one to come along... life is TOO SHORT ! 
 
Feel free to share this information with your friends
Enjoy !
Susan
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Susan Renda

I am proud to say I am a native St. Louisan and have spent many years marveling at the beauty of Lake of the Ozarks. Much of my career has been in Technology - sales, consulting and management. I e....

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