Branson area's home sales figures buck national trend

Despite an overall slip in existing-home and new-home sales on the national front, residential home sales in Stone and Taney counties rose in the first two quarters of the year.

According to Chris Cooper of Cooper Appraisal in Branson, data compiled by the Tri-Lakes Board of Realtors shows that home sales were up 5.9 percent in the second quarter of 2000 compared to the same period last year. The first six months of 2000 boasted an even larger increase of 13.2 percent compared to sales for the same period in 1999.

Cooper said 1999 had been the best year ever for residential home sales in the Tri-Lakes area.

Residential permits for new construction issued by the Planning and Zoning departments of Stone and Taney counties are also up compared to last year. Year-to-date records show there have been 442 residential construction permits issued by Taney County this year, compared to 409 permits for the same period in 1999.

Stone County has issued 285 new residential permits and 93 manufactured home permits for the first eight months of the year compared to 271 new residential permits and 68 manufactured home permits issued January-August 1999. Kimberling City has issued 11 new residential construction permits this year compared to four permits at this time a year ago.

On the national level, the National Association of Realtors' chief economist, David Lereah, said he predicts existing-home sales will slip 3.5 percent, with new-home sales forecast to drop 6.9 percent and housing starts to decline 5 percent compared to last year.

Branson real estate broker Kelly Grisham, co-owner of Remax Associated Brokers, attributes much of this year's growth to first-time home buyers. "A lot of local residents have been renting. Rents have started going back up, and you can buy a brand- new house for what you're renting," Grisham said. "People who are living in condos are going into homes."

Grisham said another reason for the growth is the number of people who continue to move to the Tri-Lakes area. "There's ... a migration of people moving here, and it's not just working people it's also retirees and vacation home buyers. That's why the Kimberling City numbers are good," he said.

According to the Cooper Appraisal analysis of the ratio of homes sold to homes listed, the top three residential home markets for the second quarter included the Missouri Highway 86 area for homes under $50,000, and Kimberling City for homes in the ranges of $90,000 to $129,999 and $50,000 to $89,999.

Ranking fourth and fifth was Branson in the ranges of $50,000 to $89,999 and $90,000 to $129,999. Branson was the most active market in the Tri-Lakes area, accounting for 29 percent of all homes sold in the area since the first of the year.

Grisham also confirmed those figures, saying that the average selling price of a home through his company was $105,000 with "a lot of entry-levels buyers (purchasing homes) at $80,000 to $120,000." He said increased interests rates, which went up 1 percent to 1.5 percent locally, also have not deterred buyers.

"All estimates indicate (interest rates) are going to back down after the first of the year," Grisham said. He said he expects a near-boom year for his own company, estimating that his real estate associates will produce about $50 million in sales, 98 percent of which will be residential properties.

New residential subdivisions in the Tri-Lakes area include three under development by Missouri Partners Inc. in Taney County, according to the company's vice president, Roland Douglas.

Meadow Ridge Estates, a 300-acre development north of Branson on Sycamore Church Road, offers 1,600-square-foot speculation and custom-built homes in the cost range of $90,000 to $130,000. Model homes are on display with about 60 houses already built and plans for 60 more to be constructed.

Country Club Heights, located on Missouri Highway 76 east of Branson, offers 1,300-square-foot, single-family homes starting at $79,900. Twenty-five homes have been built with plans for 30 more to be constructed.

Stonington Ridge, located on Maple Street in Hollister, offers 1,300-square-foot, single-family homes with three bedrooms and two baths. Missouri Partners plans to build 30 homes on sites there, with prices starting at $79,900.