This Month in Real Estate

Every month, we take a look back at how the market is affected by several different factors that take place daily throughout the world, not just within the real estate industry. For Team Andy Gibson, it's essential for us to stay up to date on the current market fluctuations so that we can help our clients make the best decisions for their real estate needs. So, this month, we're taking a look back on the past month to give you an insider's perspective on how the market is holding up today.

December 2018 Market Update
According to the National Association of REALTORS®, existing home sales increased in October after six consecutive months of decline. Buyers are stepping back into the housing market with an increasing number of homes for sale.

Interest Rates
According to Freddie Mac, 30-year fixed rates decreased slightly to 4.81 percent in October from 4.85 percent in September. This rate remains well below the historical average of 8.90 percent.

Home Sales
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.22 million in October, up from 5.15 million in September, and 5.1 percent below the 5.5 million sales pace from a year ago.

Home Prices
The median home price increased to $255,400 in October, up 3.8 percent from October 2017. The median home price has increased by approximately $9,400 in the past year alone.

There was a 4.4-month supply of housing inventory in October, stable since September. The total number of available homes for sale has increased by 12.8 percent compared to October of last year. Particularly, at the Lake of the Ozarks, inventory is low, continuing the seller's market trend. Tight inventory continues to affect home prices, but this also means buyers will likely be more willing to sacrifice luxuries to get a hold on available property.

Your Source for Real Estate Market Information
For more information on the current housing market at the Lake of the Ozarks, contact Team Andy Gibson. We're happy to discuss the current market, complete a comparative market analysis on your home, and share with you our knowledge of what works to get your home sold or to find that perfect property within a market like this! With a combined 30+ years of experience in real estate at the Lake of the Ozarks, we've experienced the market at both the highs and lows and can confidently guide you through your real estate needs!

Keller Williams Lake of the Ozarks Realty
858 Hwy 42
Osage Beach, MO 65065 
573-286-5907 Cell
573-348-9898 Office


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