Tri-Lakes home sales up 17.8 percent

Branson/Tri-Lakes area home sales increased 17.8 percent in 2002 from 2001, compared to an increase of 5 percent nationwide, according to year-end figures released by Cooper Appraisal in Branson. With more than 1,300 homes sold in 2002, the latest Tri-Lakes MLS data indicates a new record was set in Stone and Taney counties.

Figures for 2002 include sales of new and existing homes, as well as condominiums and single-family homes, said Chris Cooper, owner of Cooper Appraisal.

The average home sale price in the Tri-Lakes area was at $110,000, according to Cooper, compared to the national average of $158,200. The area's average home sale price was $80,000 to $100,000 three to five years ago, Cooper said.

And 2003 is off to a good start, with about 230 homes scheduled to close in January alone, compared to a total of 247 homes closed in the first quarter of 2002, Cooper said. He expects 2003 home sales to stabilize at or near the 2002 record levels.

Cooper credits affordable home prices, the low tax base, and the Ozarks' environment with drawing new residents to the area.

"A good majority of the people that are coming down here and purchasing homes to retire are coming from larger, more urban areas like Chicago and Kansas City," Cooper said.

The number of first-time home buyers has increased dramatically in the last two to three years due to low interest rates and loan programs that require little, if any, down payment, Cooper said.

Cooper has seen an increase in the purchase of investment property as well.

"Since Sept. 11 and the drop in the stock market below 10,000, there have been a lot more investment buyers purchasing condominiums and rental properties," he said.