Friday, January 7, 2011
Delavan Lake 2010 Year End Update
Sales of Delavan Lakefront and Lake Access Properties showed a slight improvement from 2009 to 2010. The start of the year was strong, slowing down during the summer and fall and finishing with a few more sales.
For the full year, there were 13 lakefront properties sold and 21 lake access properties sold. The least expensive lakefront sale was a $300,000 four-bedroom home on the Delavan Inlet while the most expensive sale was a $1,400,000 five-bedroom, five bath, newer construction on South Shore Drive. The lake access properties ranged from a $40,000 foreclosure in Delmar Subdivision to a $290,000 three-bedroom home in Lakewood Estates. Last year, there were 11 lakefronts sold and 34 lake access properties sold. In 2008 there were 12 lakefront sales.
The Delavan Lake condominium sales improved significantly from the prior year. There were 14 sales in 2010 compared to six in 2009. The sales range from $57,900 for a condo/hotel unit at Lake Lawn to a two-bedroom, two-bath Geneva Landings unit for $221,467.
CURRENT MARKET HOMES
There are 75 single family homes on the market with lakefront or lake access on Delavan Lake. This is up from 69 at the beginning of last year. The lake access properties start at $50,000 for a two-bedroom cottage and increase to $595,000 for a four bedroom home with a deeded boat slip and shared pier. Lakefront homes start at $459,900 for a three-bedroom home on 60 feet of North Shore frontage and progress to $2,499,900 for a six-bedroom, five-bath home on Cedar Point Drive.
CURRENT MARKET CONDOS
In the condo arena, there are 45 units available with lake access on Delavan. This is down from 50 at the beginning of last year. The properties range from a $57,900 one-bedroom condo/hotel in the Lake Lawn Resort to $375,000 for a three bedroom unit on North Shore with a boat slip and 2-car garage.
BEST VALUE LAKE ACCESS
The best value for a lake access property on Delavan is a 2-bedroom ranch located off of South Shore. Listed at $129,900, this home has private boat ramp access, a swim pier, beach and a one car garage.
BEST VALUE LAKEFRONT
The best value for a Delavan lakefront is a three-bedroom, two-bath foreclosure on 60 feet of level frontage. The home features a large lakeside deck, excellent views, and a private pier. Listed at $459,900, this home is selling for $240,000 less than the assessed value.
BEST VALUE CONDO
The best value for a lakefront condo is a one-bedroom, one-bath unit in the Delavan Club listed for $169,900. The unit is completely remodeled with wood floors, granite counters and a gas fireplace. The complex features an outdoor pool, tennis courts, basketball court, and fitness room.