Sunday, July 19, 2015

Delavan Lake 2015 First Half Update

     The real estate market around Delavan Lake showed signs of strength in the first half of 2015 as the overall economy improved and interest rates remained low.
Home Sales
     Over the first half of the year, there were seven lakefront properties sold and 20 lake access properties sold.  This compares to four lakefronts sold by this time in 2014 and 20 lake access properties sold.  The range of homes on the water spanned from a $210,000, four bedroom, two bath bungalow located on Browns Channel to an elegant six bedroom, eight bath Victorian on the North Shore that changed hands for $1.35 million.
Condo Sales
     Lake access condo sales are down slightly with eight units sold in the first half of 2015 compared to nine that sold by this time last year.  Prices ranged from a $43,000 two bedroom condo/hotel unit to a $214,700 two bedroom, two bath lakefront unit in Geneva Landings.
Recent two bedroom sale in Geneva Landings for $214,700.
Current Market Homes
     Inventory is up slightly for lake properties with 83 homes on the market with lake frontage or lake access compared to 71 at this time last year.  Prices range from $68,000 for a two bedroom, one bath cottage in the Delmar Subdivision off of South Shore Drive to $3.4 million for a six bedroom, eight bath estate on 200 feet of frontage on South Shore.  12 of the homes listed for sale already have accepted offers.
Interior view of 3307 South Shore Drive, Delavan Lake.  Offered at $3.4 million.
Current Market Condos
     The number of condo units available for sales has grown dramatically with 29 lake access condos being offered compared to only 18 at this time last year.  The units available range from $65,000 for a condo/hotel unit to $399,000 for a remodeled four bedroom stand alone unit in the Windtree Association that includes a deep water boat slip and waterfront deck.
Spacious interior of 1600 Windtree Lane offered for $399,000.
Best Value Condo
     The best values for condos are in the Delavan Club Complex.  Right now there are four one bedroom units offered, all for around $139,000.  This association includes a swimming pool, club house, boat launch, tennis courts, basketball court, sauna, steam room and additional amenities that make lake life alluring.
Best Value Lake Access
     The best value for a lake access home is at 2816 Mabie Street.  Listed for $129,900, this three bedroom property includes new laminate flooring, a large 2.5 car garage, spacious yard and lake rights of a swimming pier, boat launch, beach and two parks.
Lake access home at 2816 Mabie Street ready for summer activity.
Best Value Lakefront
     The best value lakefront home on Delavan is located at 4146 Blue Gill Road.  This three bedroom, three bath waterfront has 50 feet of private frontage, a large deck off an enclosed porch, first floor master suite and multiple entertaining areas.  Offered at only $489,000, this property has more for the owner than some that are priced over $100,000 higher.
The view from the enclosed porch at 4146 Blue Gill takes in the entire lake.

4146 Blue Gill with wrap around front deck overlooking the water.

Saturday, July 11, 2015

Prices Continue to Push Higher on Delavan Lake

     With the sale of two new lakefront homes on Delavan Lake this month, prices are showing upward pressure not seen since 2007.  That is not to say that prices have returned to the market highs, just that we are seeing solid support for quality homes on the water.
     The last two sales include a stunning five-bedroom East Coast-style water front property with sweeping views of the entire lake and architectural input that can be felt from nearly every room.  This home was designed for the lake with multiple entertaining spaces that look out on the water and flow from one to the next.  The main level greets guests with an open great room, formal dining area, gourmet kitchen and living room all looking towards Delavan Lake. 
Views from the front sun room at 2611 South Shore Drive, Delavan Lake

     Each bedroom is a separate suite with a private bath.  The master suite includes two separate walk in closets, two lakefront balconies, garden tub, walk-in shower and cathedral ceiling.

2611 South Shore Drive recently sold for $1,440,000

     Listed for $1,595,000 the home sold for $1,440,000.  While only on 63 feet of frontage, the property also featured two separate garages, outfitted with electric car charging stations, an over-sized pier system, and a separate sail room for storage of yachting supplies.
     The second sale was located at 3525 South Shore Drive and included 166 feet of level, prime lakefront.  This was one of the largest lakefront parcels sold in the last five years.
3525 South Shore Drive with 166 feet of private lakefront

     The four bedroom Tudor was listed for $1,495,000 and sold for $1,350,000.  The property encompassed two tax parcels and 2.31 acres of land.  Every element of this home was in excellent condition with all bedrooms sporting lake views and a massive waterfront deck and gazebo just begging for guests to come visit.