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 |
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