Delavan Lake 2014 Real Estate Summary


Delavan Lake real estate activity was mixed during 2014 with sales on the main body at five year lows while lake access homes were up 20 percent over the prior year. Inventories continued to fall and the market may be setting up to show an increase in lake home pricing in 2015 as demand picks up along with the general economy.
 
HOME SALES
For 2014, there were only ten homes that sold on the main body of Delavan Lake.  If properties on the Inlet and Outlet are included, sales were a respectable 17 properties.  This is down from 19 sales in 2013.  The lakefront sales ranged from $430,000 for a three bedroom, three bath home on the South Shore with 50 feet of lakefront to a $1.325 million property near the Community Park.  The million dollar sale featured seven bedrooms, seven baths, a guest cottage at the water front and 158 feet of private shoreline.
South Shore property that sold for $1.325 million in 2014
 Lake access homes ranged from a $26,000 three bedroom cottage in the Delmar Subdivision to a newer three bedroom, three bathroom Cape Cod in Assembly Park that sold for $385,000.
 
Sale in Assembly Park featured newer construction and lake access.
CONDO SALES
There were 15 Delavan Lake condos sold in 2014 which is the same amount that was sold in 2013.  The sales were nearly identical to 2013 with the lowest price sale consisting of a $17,000 unit in the Delavan Lake Resort and the highest being a $285,000 unit in Delavan Gardens that featured three bedrooms, three baths, an attached garage and a boat slip.
 
CURRENT MARKET HOMES
The inventory of homes for sale with Delavan Lake frontage or lake rights continued to fall in 2014.  At the end of the year there were only 43 properties available.  This compares with 53 in 2013 and 60 in 2012.  The price range for lakefront homes ranges from $450,000 for a tear-down cottage on 50 feet of frontage off of the North Shore to $1.595 million for a magnificent brick Tudor with four bedrooms, three baths, billiard room, spacious deck and 166 feet of level lakefront.  Lake access homes start at $72,000 for a smart two bedroom starter in Delmar Subdivision to an overpriced $724,900 three bedroom in Assembly Park.  For the price of the Assembly Park home, you can be on the main body with 50 feet of private frontage.
 
CURRENT MARKET CONDOS
Currently, there are 15 condos for sale with lake access to Delavan.  The range of those units is $75,000 for a condo/hotel in Lake Lawn Resort to $279,000 for the same unit.
You are correct.  That does not make sense, but someone is trying to sell the same unit for $200,000 more.  The range of non-hotel units is $139,900 for a one-bedroom in the Delavan Club complex to $240,000 for a two bedroom unit in Geneva Landings.
 
BEST VALUE LAKE ACCESS
The best value for a lake access property on Delavan is located at 2700 Mason Street off of South Shore Drive. Listed at only $72,000 this is the least expensive lake access home currently available.  The home contains two bedrooms, a remodeled bath, large back yard with fire pit, and an attached garage.
Best value lake for a lake access home is this two-bedroom cottage.
 
BEST VALUE LAKEFRONT
The best value for a Delavan lakefront is a three bedroom, two bath ranch on South Shore.  Located at 3207 South Shore Drive, this home has 50 feet of private frontage, nearly an acre of land, a wooded drive and a detached garage.  It sits next to a Frank Lloyd Wright home and is offered for only $739,000.
 
Best value lakefront features breathtaking lake views and sunsets.
BEST VALUE CONDO
The best value for a lakefront condo is a two-bedroom, two-bath unit in the Delavan Club.  Listed for $199,000, the unit has a main floor bedroom, guest room and views of the Delavan Outlet.  The complex contains an outdoor pool, club house, boat slips, and a fitness room.
Delavan Club condos include a spacious club house and outdoor pool.
 
 

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