Aren’t you curious to find real stories of real estate rather than the sky falling media version of things that make you want to curl up in the fetal position and regret waking up in the morning? Me too. I came across some positive news that I thought was worth sharing.
I talked to some folks from Las Vegas over the weekend and I asked them how things were going. They said, it was still bad in Las Vegas as home prices were still declining. They asked how we were doing here in Branson and I gave them the typical Realtor answer that we never had the super high increase that Las Vegas had so we didn’t have as dramatic of a low but we did have some drama.
I like to work with facts rather than opinions so it inspired me to check the real numbers.
I keep a running tab of my own data that I process year after year to keep track of the Branson Real Estate Market and what I found was two years of recovery!
If you look at the number of transactions (closed sales) from 2005 until today you’ll see that 2005 was an amazing year for real estate in Branson with 13% to 15% appreciation in values from the previous year. Then 2006-2008 were declining years, not only in the number of transactions, but also in the average price of a home. The market bottomed in 2009 and has had two years of an increase in the number of transactions from the previous year in both 2010 and 2011.
The decline in the average sales price has leveled off to $141,169 from $143,169 in 2010 and $147,000 in 2009. The foreclosure inventory is being absorbed and as it continues to do so, we should see an increase in that average home price.
But the good news is, buyers are out there and want real estate. Interest rates are still at historic lows and so are average home prices. People love a sale, and that’s evident an increase in the number of buyers to Branson Real Estate for the past two years.
Contributed by:
Jeramie Worley, GRI
Broker / Assoc
The Community Real Estate Group, LLC
140 Canyon Crossing, Hollister, MO 65672
Branson Real Estate Blog by Jeramie Worley 