Monday, July 18, 2016

Delavan Lake 2016 Mid-Year Real Estate Update

     Sales activity has been extremely slow on Delavan Lake for the first half of 2016.  For the first six months, there have been only five waterfront properties sold compared to seven in 2015.  The numbers look even weaker when we exclude the two property sales that were on the outlet and Brown’s Channel.
     Sales prices on the main body ranged from $537,000 for a four-bedroom tear-down on the North Shore to $740,000 for a well-groomed four-bedroom on 50 feet of frontage also on the North Shore.  All three sales on the main body were on the north side of the lake.
Tear down sale on Delavan's North Shore sold for $537,000
     For lake access properties, the market was much stronger with 22 sales in 2016 compared to 20 in 2015.  Prices of lake access homes ranged from $57,000 for a one-bedroom starter in the Delmar Subdivision to $325,000 for a completely remodeled three-bedroom A-Frame in the Viewcrest subdivision that included a boat slip and all the furnishings.
Top end of the Lake Access Sales on Delavan Lake sold for $325,000
Condo Sales
     Sales of lake access condos increased slightly year-over-year with 10 sold in 2016 compared to eight in 2015.  Values ranged from $67,500 for a two-bedroom condo-hotel in the Delavan Lake Resort to $230,000 for a furnished two-bedroom in Geneva Landings.  Four of the sales were one-bedroom units with buyers taking advantage of discounted prices.
Current Market Homes
     The level of inventory has fallen with only 72 lakefront and lake access properties available compared to 83 at this time last year.  Prices range from $56,500 for a shabby two-bedroom off of Fleming Drive to $2,950,000 for a magnificent six-bedroom estate on the South Shore.  Nine homes have accepted offers compared to 12 last year.
Prairie-style six-bedroom estate available on Delavan's South Shore
Current Market Condos
     Inventory levels for lake access condos is also lower with only 24 units on the market compared to 29 at this time last year.  Prices range from $49,000 for a one-bedroom condo hotel room to $349,000 for a three-bedroom, three-bath unit in Delavan Gardens that includes an attached two-car garage, boat slip and lakeside patio.
Best Value Condo
     The best value condo on the market is a two-bedroom unit in Geneva Landings listed for $207,900.  While a little rough on the inside, the unit is listed for over $22,000 less than the sale of a similar unit and includes a $2000 flooring allowance for the new owner.
Best value condo is located in Geneva Landings on Delavan Lake
Best Value Lake Access
     The best value lake access property on Delavan is located at 4117 Chestnut Ave. in the Delavan Highlands.  This remodeled two-bedroom has an extra-large lot, over-sized two-car garage and includes the best beach on Delavan Lake.  The home is listed for only $139,900 and is ready to enjoy.
Remodeled and ready for summer at 4117 Chestnut Avenue.
Best Value Lakefront

     There are many great values right now for Delavan Lakefront Properties.  The winner of the “Best Buy” award is located at 2524 North Shore Drive.  Recently reduced to $699,000, this four-bedroom lakefront includes 80 feet of frontage, a charming front porch and a waterfront deck to take in all the action.  While in need of a little maintenance and repair, the home offers a solid value for lake enthusiasts. 
2524 North Shore Drive has been reduced to only $699,000 for 80 feet of frontage

Friday, July 1, 2016

Delavan Lake Fireworks Saturday, July 2, 2016

     The Town of Delavan will hold their annual Independence Day Celebration with fireworks over Delavan Lake on Saturday, July 2, 2016.  Residents and guests can enjoy the show from both land and sea.

     On land, the Town Park, located at the intersection of South Shore Drive and Hwy 50, will be holding a day of events with music featuring Cedric Square and the New Image.  The pavilion will open at 4 pm and the music will start at 6 pm.  Food and beverages will be offered for purchase throughout the day.
     The fireworks will blast off at dusk and can also be viewed by boat.  Many watercraft will be anchored in front of the peninsula off of the Town Park creating a bay of celebration on the water.