PRESENTED BY:
Jeff SavageRealtor - CRS, E-Pro, SRES
RE/MAX Grand Lake
2014 Grand Lake Area Real Estate Trends
Total dollars spent in that property category.
Real Estate Acronyms, Terminology and Definitions
DOLLAR VOLUME
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+
Source of Information
For the period January 1, 2005
through December 31, 2014
• Based on information from the Northeast Oklahoma Board of Realtors®
All Property Sales
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$180,163,707
$215,513,432
$199,065,317
$171,559,949
$125,457,074$119,843,085
$127,567,682
$155,397,922$156,792,161
$173,198,120
Dollar Volume
Residential Sales
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$137,028,272
$172,290,523
$154,400,339
$135,967,732
$106,391,858$102,288,460
$111,388,218
$127,524,518$137,025,450
$144,812,505
Dollar Volume
Residential Waterfront
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$58,573,476
$78,829,160
$69,725,986$66,767,086
$46,299,150$49,067,635
$58,060,405
$69,526,355
$77,038,246$79,806,222
Dollar Volume
Residential (not Water Front)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$78,454,796
$93,461,363
$84,674,353
$69,200,646
$60,092,708$53,220,825 $53,327,813
$57,998,163$59,987,204$65,006,283
Dollar Volume
Luxury Home Market
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$9,512,900
$28,720,161$26,832,200
$31,054,400
$15,868,500
$19,508,210
$23,839,600
$32,289,500 $32,502,971
$36,446,450
Dollar Volume
Water Front Lots
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$8,793,551
$5,547,820
$14,374,950
$6,421,999
$2,808,850 $3,411,375$2,835,300
$5,995,737
$2,715,300
$4,737,500
Dollar Volume
Condos and Townhomes
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$4,672,950
$6,088,450
$10,082,750
$7,011,516
$5,694,525$6,185,500
$7,108,232
$5,990,000
$8,203,600
$6,251,300
Dollar Volume
Farms and Ranches
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$11,055,540
$15,272,494
$13,118,100
$7,817,380$7,995,861
$4,828,470$4,228,334
$11,467,820
$6,679,400
$11,918,905
Commercial
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$10,349,300
$8,890,375$9,417,500
$5,648,400
$2,290,000$2,897,900
$1,686,000
$3,047,500
$4,685,400 $4,487,000
Dollar Volume
Residential Waterfront
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$251,388
$306,728 $311,277
$358,963
$291,190
$333,793 $335,609 $345,902 $342,392 $338,162
Average Sold Price
Residential (not Water Front)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$88,750
$97,968
$94,503
$96,380 $95,842
$106,018
$101,965 $101,751$100,989 $101,256
Average Sold Price
Luxury Home Market
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$731,762
$718,004
$706,111
$796,267
$721,295
$780,328
$722,412
$750,919
$792,755 $792,314
Average Sold Price
Water Front Lots
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$165,916
$108,781
$266,203
$173,568
$147,834$136,455
$166,782
$249,833
$104,435
$143,561
Average Sold Price
All Residential Sales
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$137,028,272
$172,290,523
$154,400,339
$135,967,732
$106,391,858$102,288,460
$111,388,218
$127,524,518
$137,025,450$144,812,505
Dollar Volume
Conventional Loans
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$93,308,710
$108,443,539
$91,154,139
$63,289,586$56,430,899
$48,401,234$51,062,943
$61,306,542$66,582,745
$75,157,099
Dollar Volume
Cash Sales
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$30,126,964
$36,273,843
$28,711,604
$32,421,082
$26,034,680
$32,731,016$33,173,688
$34,857,391
$42,756,759
$55,987,281
Dollar Volume
FHA Loans
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$6,281,589 $6,313,661
$8,753,299
$10,058,464
$8,832,228
$5,868,310$6,541,987
$6,909,992
$5,228,626
$6,623,375
Dollar Volume
VA Loans
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$401,550
$1,167,020
$528,151
$945,500
$1,456,800$1,695,800
$1,517,300
$1,975,900 $2,026,300
$4,427,010
Dollar Volume
All Property Listings
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
4,6274,847
5,1384,974
4,7694,484
4,379 4,232 4,266 4,085
Active Listings
All Property Sales
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
1,4641,574
1,424
1,159
969
803 830
957981
1,082
Total # Sales
Residential Sales
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
1,117
1,211
1,120
904
786
649696
771819
878
Total # Sales
Conventional Loans
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
649
727
602
383363
286 300327
337 371
Total # Sales
Cash Sales
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
282
249232 239
212194
225
250
316
378
Total # Sales
FHA Loans
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
10395
123 124
91
66 62 64
52
62
Total # Sales
In Conclusion
• Water Front Homes bring buyers to Grand Lake, and continue to be the strongest
segment of the area market.
• The numbers show the
local real estate market is growing.
• Real estate is local, and Oklahomans are not buying or selling their homes
in a national housing market.