Delavan Lake 3Q Real Estate Summary

Sales of Delavan Lakefront and Lake Access properties came to a crawl in the third quarter of 2010.

HOME SALES

From July 1 to September 30, not a single lakefront property sold. Last year, there were three sales during this period. Year to date, there have been nine sales of Delavan lakefront properties compared to seven in 2009.

Sales of Delavan lake access properties fared better with nine sales for the three month period. Nine were also sold during the same time frame last year. Year to date, there have been 19 lake access sales compared to 23 last year by this time. The sales for the quarter ranged from a $40,500 foreclosure to a $210,000 four-bedroom in Assembly Park.

CONDO SALES

The lakefront condo market declined in the third quarter. There were only two sales this year compared to four last year. Year to date, sales were 13 compared to only five last year. The sales for the quarter consisted of one two-bedroom, two-bath Delavan Club unit and one two-bedroom, three-bath Geneva Landings unit.

CURRENT MARKET HOMES

There are 99 single family homes on the market with lakefront or lake access on Delavan Lake. This is up from 91 last year. The lakefront properties start at $335,000 for a three-bedroom home on Brown’s Channel and progress to $2,499,900 for a six-bedroom home on the north shore.

CURRENT MARKET CONDOS

In the condo arena, there are 43 units for sale, which is down from 55 last year. The properties range from a $59,500 one-bedroom condo/hotel to $399,000 for a completely remodeled three-bedroom with a pier, boat lift and boat launch in Delavan Gardens.

BEST VALUE LAKE ACCESS

The best value for a lake access property on Delavan is located at 4325 East Drive. Reduced from $165,000 to $129,900, this two-bedroom home has a pier, boat launch, park, and beach.

BEST VALUE LAKEFRONT

The best value for a Delavan lakefront is 2510 Manor Lane. This four-bedroom, two-bath lakefront, has 100 feet of level frontage, a wrap-around deck and a 2.5 car garage. It has been reduced from $999,000 to $949,000.

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