2017 real estate activity for the Grand Lake area.1/15/2018
2017 Sales Analysis for the NE Oklahoma MLS and Selected Areas.
1040 residential sales compared to 918 in 2016, a 13%
increase. $178,400 average price in the 4 county areas.
584 homes sold with an average price of $220,100.
Total residential sales exceeded $128 million in value. 1/4th of all sales
were homes over $300,000. 1/3rd of all sales were homes from
$140,000 to $300,000. 40% of all sales were for cash. 48% sold with
conventional loans and 9% sold either FHA or VA.
313 homes sold compared to 291 in 2016, a 7% increase in sales. Over
$68,000,000 residential sales in Grove during 2017…1/2 of Delaware
counties total sales. The time to sell all active listing in the area (the
absorption rate) has dropped from around 12 months in 2016 to less
than 9 months last year.
The consensus is that homes are selling faster, there is less inventory to
choose from, prices are starting to finally increase and
homes are selling for a higher % of their last listed price.
Now is the time for more new construction in the area. Now is the time
For sellers to get their properties listed so that buyers have a greater
choice. 2018 looks like a great year for buyers and sellers in the Grand
Data by the NE Oklahoma MLS. Not audited, Analysis provided by Wayne Short, Broker, RE/MAX Grand Lake