Saturday, April 7, 2012

Delavan Home Sales Increase 19 Percent Over Last Year

     Delavan single family homes sales are up 19 percent this year according to the Multiple Listing Service.  Sales for 2011 through the first week of April totaled $4,039,000 while sales for 2012 total $4,802,000.
     Unit sales are also higher. There were only 23 sales in 2011 by this time of the year while for 2012 we have a total of 35 sales.  As a result, the average sale price has fallen from $176,000 in 2012 to $137,000 in 2011.
     These sales include both the city and the town of Delavan. 

Friday, April 6, 2012

Delavan Lake First Quarter 2012 Summary

Delavan Lake property activity is up slightly in the first quarter of 2012 compared to 2011.  While showings have increased, sales have been slow to materialize and foreclosures have seen most of the action.

     For the first quarter, there were two lakefront properties sold and three lake access property sold.  Last year, there were two lakefronts sold in the first quarter and no lake access sold.  The sales ranged from a $550,199 foreclosure on the South Shore to a $41,000 foreclosed cottage on South Shore Drive.   Six properties have accepted offers compared to 12 that had accepted offers this time last year.

     There have been three condo sales with lake rights in the first quarter.  This compares to only one last year.  The sales ranged from a Lake Lawn Condo/Hotel foreclosure at $30,000 to a three bedroom, three bath Geneva Landings Garden unit which sold for $224,200.  Three condos with lake access currently have accepted offers.

     There are 97 single family homes on the market with lakefront or lake access on Delavan Lake.  This is up from 94 last year.  The lake access properties start at $44,500 for a two-bedroom cottage and increase to $499,000 for a three bedroom home with no lake views and a boat slip.  Lakefront homes start at $319,000 for a two-bedroom home on Delavan Inlet and progress to $2,199,900 for a six-bedroom home with 132 feet of frontage on North Shore Drive.  The latter has been on the market since 2008 when it was listed for $2,700,000.

     There are 46 condo units for sale, which is down from 56 last year.  The properties range from a $31,900 one-bedroom condo/hotel to $334,900 for a three-bedroom unit with a pier, boat lift and boat launch.

     The best value for a lake access property on Delavan is located at 4214 Poplar Street.  Listed at
$181,500, this new construction three-bedroom home has a boat launch, park, and beach area along with 2-car garage and screened in patio.
New construction with stone fireplace.
Association beach with great lake views.

     The best value for a Delavan lakefront is 2229 South Shore Drive.  This five bedroom, four bath home has 75 feet of lakefront, excellent views, and a detached three car garage.  It is currently listed for $849,000 compared to the assessed value of $1,128,000.
Open deck and screened in deck to enjoy the summer.
Lake views from 75 feet of private South Shore frontage.