Lake of the Ozarks is known by many names, The Magic Dragon, The Playground of the Mid-West and the Mid-West Coast. It is growing in popularity across the entire United States and with this growth, real estate at the Lake of the Ozarks has seen an excellent appreciation of value as well as growth in the number of homes and condos around the lake.
The towns of Lake Ozark and Osage Beach are the hub of all the current retail expansion at Lake of the Ozaks. Here is what is going on. With the boom in popularity came a boom in business. New restaurants like Applebees, Chili’s, Panera Bread, Outback, and The Pasta House, just to name a few are all going in along the Highway 54 corridor. Not to mention the long time fine dining favorites like Bentley’s, Domenico’s, J. Bruners, and JB Hooks and of course the many restaurants right on the Lake, The Duck, Franky & Louie’s, Backwater Jack’s and many many more in every category.
Horseshoe Bend Parkway is being expanded to meet Highway 54 and will be the new city of Lake Ozark. The latest press report says there will be nearly 1,000,000 (One Million) square feet of commercial space being planned! There will be a new city built from scratch. The Parkway will connect directly with Hwy 54 and MODOT is starting construction of a new interchange with the new bypass at this intersection.
Lake Ozark’s primary business area has always been “The Strip”. The area of tourist centered attractions and shops that are right by the dam. It has expanded somewhat over the years along Business Hwy 54 with the addition of businesses like Paul’s Market, JB Hooks, and various other retail. But that is soon going to change with the Horseshoe Bend expansion. Lake Ozark will compete head to head with Osage Beach as the Lake of the Ozarks primary shopping destination.
Lakefront homes remain the staple of the real estate business at the lake, but what is the market doing?
Currently there are 2584 homes on the market in the Bagnell Dam and Lake of the Ozarks Multi-List systems. Of these, 216 are considered in the Lake Ozark area, which includes Horseshoe Bend and Four Seasons. The average list price for these is $398,429 and the average Days On the Market (DOM) is 198. As you can see, it is just a small portion of what is available at Lake of the Ozarks.
Those are the numbers, but what does it mean? It means that in my 20+ years of selling Real Estate at the Lake of the Ozarks, NOW is one of the very best times for a Buyer to Buy! Properties are sitting on the market longer, and the inventory is very high by Lake of the Ozarks standards.
Visit our home search feature or www.prulakeozarkrealty.com to find real estate in the Lake of the Ozarks, Missouri area. Find Lake of the Ozarks homes, condos, waterfront and golf real estate for sale today.
Read about the Lake Ozark HH Parkway expansion.
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