Wednesday, January 6, 2021

2020 Delavan Lake Real Estate Wrap Up

 

     What a unique year 2020 was for Delavan Lake property sales!  The drastic reduction in homes available pushed prices close to record highs and most of the real estate that was available saw multiple bids when it came on the market.

     In 2020 we had 17 sales of lakefront homes compared to 20 in 2019 and 15 in 2018.  There were 52 homes with lake access purchased compared to 49 and 45 the prior two years.

     Prices for lakefront homes ranged from $299,000 for a remodeled two-bedroom on Browns Channel to $3,700,000 for a North Shore lakefront estate with over 1,000 feet of water frontage.

The least expensive sale with direct lake access was this two-bedroom home
on Browns Channel that leads directly into Delavan Lake


     Lake access homes ranged from $78,500 for a tear-down in the Delmar Subdivision off of South Shore (the floor of this home was not even connected to the wall!), to $700,000 for a four-bedroom two-story with lake views in the Viewcrest Association. (This home had an assessed value of only $347,000).

The most expensive sale in 2020 was the Villa Clare Estate on 
the North Shore of Delavan Lake.  The property has 1058 feet of lakefront.

     Condominiums with lake access were also in hot demand for 2020.  There were 24 units sold compared to 28 in 2019 and 20 in 2018.  There would be higher numbers, but we ran out of inventory.  The sale price of condos started at $39,900 for a double queen loft in the Lake Lawn Resort and increased to $420,000 for a three-bedroom, three-bath unit in Delavan Gardens on the North Shore that had sold for $110,000 less in 2018.

     The stock of homes is completely depleted with only 11 lakefront and lake access homes available compared to 18 last year and 24 the year prior.  There are only two homes for sale on the main body of Delavan Lake. One is priced at $1,275,000 and the other at $1,400,000. All of the 12 lake access condos on the market are condo/hotel units.  There are not any standard condos available with access to Delavan Lake.

The starting point for a lakefront home is this two-bedroom on
Browns Channel.  It is on the South side of Delavan Lake.

     Usually, I list the best values currently on the market.  However, three of the four lakefronts are under contract, and there are no condos available.  If you are considering selling… now is the time.

Friday, October 30, 2020

Delavan Lake Sales Fall As Prices Rise

 

     What a crazy year it has been for Delavan Lake property sales.  The tight inventories and multiple offers have pushed up prices to near record levels and the remaining homes are extremely limited and often priced at a rich premium.

     There have been 11 lakefront home sales through the first nine months of 2020.  This compares to 13 homes sold by this time last year.  Prices ranged from $299,000 for a two-bedroom on Browns Channel off of the South Shore to $3,700,000 for a 34 acre estate on over 1,000 feet of North Shore lakefront.

This two-bedroom on Browns Channel sold for $299,000 in 2020.


     Sales of lake access homes dropped to only 28 units this year compared to 37 last year.  The decrease was primarily due to lack of inventory.  Prices started at $78,500 for a three-bedroom cottage in the Delmar Subdivision and rose to $700,000 for an updated four-bedroom in the Viewcrest Subdivision at the west end of the lake.

     Lake access condos sales this year have fallen to 14 units compared to 22 sales last year.  Sales started at $39,900 for a Lake Lawn Resort condo/hotel unit and rose to $420,000 for a Delavan Gardens three-bedroom, three-bath unit.

CURRENTLY ON THE MARKET

     There are only eight lakefront properties still available for sale on Delavan Lake.  This is half of what was available at this time last year.  All but two have accepted offers.  The starting point for a waterfront home is $425,000 for a four-bedroom on Browns Channel and prices cap out at $1,950,000 for a three-bedroom on 1.4 acres of North Shore frontage.

One of eight lakefront homes still available on Delavan Lake.
This one is listed for $1,600,000.

     Lake access home supply has shrunk even more with only nine units available compared to 27 available last year.  Prices range from $114,900 for a two-bedroom fixer-upper in South Shore Manor to $525,000 for a three-bedroom in Viewcrest Subdivision that sold for $416,000 just a year ago.

     Condos are in the shortest supply with only one year-round unit available.  It is located in Geneva Landings for a price of $260,000 and went under contract as soon as it hit the market.

Thursday, July 30, 2020

Shrinking Inventory Drive Up Delavan Lake Prices

     Sales of Delavan Lake properties slowed and prices rose during the first half of 2020 compared to last year due to a lack of inventory and increased demand.  Many buyers are frustrated that they cannot find suitable homes to purchase which is driving up the price of ones that are for sale.

     For the first half of the year, there were five lakefront sales compared to seven last year.  Lake access homes showed 20 sales compared to 22 last year.  Lake condo sales fell to five for the first part of 2020 compared to 16 sales in 2019.

     Sales for the lakefront properties ranged from $395,000 for a one bedroom cottage on the South Shore to $1,475,000 for a custom built five bedroom home on 120 feet of South Shore frontage.

     The range for lake access homes was $99,000 for a two bedroom home in the Delmar subdivision that needed some repair work to an incredible $427,000 for a four bedroom Delmar home that sold for $150,000 over the assessed value.

     Lake access condos ranged from $187,000 for a two bedroom in the Delavan Club complex to $244,000 for a two bedroom in the Geneva Landings Association.  The Geneva Landings unit had a desirable first floor master suite.


This two bedroom condo sold in the first half of 2020 for $244,000.

     Current inventories of lakefront and lake access homes continue to shrink.  There are only 28 homes to choose from compared to 41 last year and 49 in 2018.  If you want a lakefront property, there are only two on the main body that do not have accepted offers.  Prices of lakefronts range from $299,000 for a two bedroom on Browns Channel to $3.7 million for a four bedroom on North Shore with 1056 feet of lakefront.  Lake access homes range from $89,900 for a three bedroom in the Delmar Subdivision to $469,000 for a three bedroom in Assembly Park that is selling for 82% more than its fair market value.

     Condo units are up from last year only because a number of units in the Lake Lawn Resort have been put on the market.  There are 22 lake access condos available compared to 10 last year and 18 in 2018.  Without the condo/hotel units, there would be only eight units available.  Offerings range from a $47,900 condo/hotel room to $425,000 for a three bedroom unit that was purchased for $310,000 less than two years ago.

     The best value for a lakefront home is located at 1617 Cedar Point Drive.  This five bedroom, three bath home sits on 66 feet of North Shore frontage and features English gardens, spacious sun room and an oversized pier.  The home is listed for $1,095,000.

Best Lakefront Value - 1617 Cedar Point Drive, Delavan Lake, WI

     The best value lake access condo is located at 2137 Landings Lane.  This is a one bedroom unit with lake views, boat launch and outdoor swimming pool.  It is listed for $157,500.

     The best value lake access home is…  there isn’t one.


Thursday, April 30, 2020

Delavan Lake Real Estate Report


     Real estate sales around Delavan Lake slowed for the first quarter of 2020.  For the first three months of the years, there were only nine sales of homes and condos with lake rights.  This compares to 15 sales in the first quarter of 2019.  Two of the sales this year were lakefronts.  One was a four bedroom, three bath walk-out ranch on 75 feet of frontage that sold for $900,400 and the other was a new construction on 120 feet of frontage that sold for $1,475,000.
     The inventory of homes remains very tight if you want something that is on the lake or has access to it.  There are ten homes with water frontage available and 22 with lake access.  The availability of condos is even tighter with only nine units on the market.  Six of those are condo/hotel rooms and cannot be lived in full time.
     For a lake access home, prices start at $105,000 for a small two bedroom home in the Inlet Oaks Subdivision and progress up to $385,000 for an A-Frame that includes a boat slip in Lakewood Estates.
     If you want to be directly on the main body of Delavan Lake, the starting price point is $599,999 for a small three bedroom on the South Shore that sits on 40 feet of lakefront.  The most expensive offering is on North Shore and is a 7,104 sq ft home with six bedrooms and seven bathrooms.
     The best value on Delavan Lake is located at 2316 Lake Shore Drive.  This home is in the South Shore Manor subdivision and includes a private pier.  Priced at $599,999, it is also the least expensive home on the water.
2316 Lake Shore Drive

     The best value for a lake access home is at 2549 Tilden Avenue.  This Delmar Association home has four bedrooms, two full baths and a two car garage.  The home is priced at $178,500 and includes the use of a boat launch and swim pier.
 
2549 Tilden Avenue


Wednesday, February 5, 2020

Carefree Living in Geneva Landings

     When you come up to Delavan Lake, what do you want to do?  Relax.  One of the best ways to do that is with a Condo in the Geneva Landings complex, located on the outlet of Delavan Lake.
     With a unit in Geneva Landings, you have access to an outdoor pool, private club house, exercise room, piers, and a boat launch.  Best of all, there isn't any lawn mowing or snow shoveling.  Those terrible tasks are taken care of for you.
Inviting pool at the Geneva Landings complex

     Right now, there are two great units available in the complex.  The first is at 2205 Landings Lane.  This two bedroom, two bath unit is being sold as a turn-key vacation spot with furniture, dishes and electronics all included.  It is currently being offered for $249,000.
2205 Landings Lane on Delavan Lake.
Click here to tour the property

     The second unit is located at 2236 Landings Lane.  This condo has been completely remodeled and is most likely the nicest unit in the complex.  Wood floors, walk in shower, Onyx counters, two master suites and a balcony overlooking the water are included.  Listed for $259,000 you can purchase before spring and be ready for summer activities.
2236 Landings Lane on Delavan Lake.
Click here to tour the property

Tuesday, January 14, 2020

Strong 2019 Delavan Lake Real Estate Sales Deplete Inventory


     The sales of Delavan Lake properties in 2019 has caused a shortage of homes available for the start of 2020.  For 2019 there were 20 homes on Delavan Lake that sold compared to 15 in 2018 and 25 in 2017.  Sales of lake access properties were also strong with 49 sales in 2019 compared to 45 in 2018 and 46 in 2017. 
     Sales of Delavan Lakefronts ranged from $247,500 for a tattered five bedroom cottage off of Bennett Street on the south shore to $1,586,304 for a custom new construction home just a short distance away.
     Lake access properties that sold in 2019 ranged from $42,000 for a decaying four bedroom on Orchard Street in South Shore Manor to $510,000 for a four bedroom two-story in Windtree Acres on the north side of the lake.  The Windtree property featured lake views from a wrap-around deck and a deep water boat slip.
     The sales of lake access condominiums also soared last year with 28 units sold compared to 20 in 2018 and 21 in 2017.  The units ranged from $47,000 for a one bedroom condo/hotel room in the Lake Lawn Resort to a gorgeous three bedroom unit with lake views in Delavan Gardens off of North Shore Drive.
1606 Wesbank Circle on the north shore of Delavan Lake, WI

     The strong sales over the last year have left the inventory of homes in a very weak position.  There are only five condominiums for sale compared to 10 at this time last year and 13 in 2018.
In regards to lakefront and lake access homes, there are only 18 currently on the market compared to 24 in 2019 and 33 in 2018.  This limited supply has pushed up prices across the board with many home owners holding out for top dollars.
Best Value Lakefront
     The best value for a Delavan Lakefront home is located at 2920 North Shore Drive.  Set on nearly two acres of wooded lakefront, this four bedroom, three bath walk-out ranch delivers privacy and excellent lake views.  The property is listed for $995,000 and includes both an attached two car garage and a detached four car garage.
2920 North Shore Drive, Delavan Lake, WI
click here for more information and pictures

Best Value Lake Access
     The best value for a Delavan Lake access property is at 4601 Highland Drive.  This newer four bedroom home has wood floors, a lake view and a boat slip in the Viewcrest Estates.  The home is offered for a price of $339,900.
Best Value Condo
     For the best value condo, there is only one choice.  That is because there is only one unit listed for sale that is not part of a condo/hotel.  The unit is located at 2236 Landings Lane in the Geneva Landings complex which is on the Delavan Outlet.  The two bedroom unit, has been completely updated with two master suites a waterfront balcony and short waiting list for a boat slip.  The unit is available for $259,900.
2236 Landings Lane is the best value condo on Delavan Lake
Click here for additional information and pictures


Wednesday, October 30, 2019

Year End Delavan Lake Bargains

     Often the end of summer brings some great values on Lakefront and Lake Access homes around Delavan Lake.  This year, there is the opportunity to pick up some projects that need a little remodeling, but represent a great value.
     First is the one bedroom cottage in the Delavan Inlet.  With space inside enough to create two decent size bedrooms, this year-round home could be a cute get away with some new siding and interior remodeling.  The home is located at 307 Breezy Street, is listed for $114,500 and includes a one car garage.
Click here for additional information on 307 Breezy Street, Delavan Lake, WI
     Next is a four-bedroom two-story located across the street from Turtle Lake, WI.  Turtle Lake is a quick 15 minute drive north of Delavan Lake.  It is an all sport lake that has great water quality and good fishing action.  The property, located at N6510 Anderson Drive, has lake views from the lawn and second story deck and two family room spaces for entertaining.  The property is listed for $159,999 and needs minimal updating.
N6510 Anderson Drive could be your lake retreat.
Click here for more details
     Lastly, is a unique lakefront property which is located at 3010 North Shore Drive.  Split off from a larger lakefront home, this four-bedroom, Prairie-style structure offers a large master suite, generous yard space and a 100 foot lakefront park.  The property has its own private pier and boat shed at the waters edge.  Offered at $700,000, this lakefront just needs some updating in the kitchen to be a show piece for family and friends.
3010 North Shore Drive, Delavan Lake, WI offers affordable lakefront enjoyment.
Click here to see the details.