Monday, August 5, 2019

Delavan Lake Real Estate First Half Review


     During the first half of 2019, sales of homes around Delavan Lake, WI increased dramatically from the prior year with lake access properties taking the majority of the transactions.  For the January to June period, there were 29 sales of lakefront and lake access properties compared to only 17 by that time in 2018.  This was the highest unit total in four years. 
     The price range for the lake properties ranged from $87,500 for a three bedroom cottage in the Delmar Subdivision off of South Shore, to $750,000 for a four bedroom lakefront on 50 feet of North Shore frontage.
     Sales of lakefront condominiums also saw a healthy increase as 16 units were sold in the first part of 2019 compared to 10 in 2018 and eight in 2017.  The majority of the sales were in the Geneva Landings complex.  Prices of condos sold ranged from $47,900 for a condo/hotel room in the Lake Lawn Resort to $350,000 for a three bedroom unit in the Delavan Gardens complex that included a private boat slip.

Recent sale in Delavan Gardens for $350,000.

     At the start of the third quarter, there were only 41 lake access and lakefront properties on the market.  This compares to 49 in 2018 and 62 in 2017.  The tight inventory is causing prices to increase in all areas. The starting point for lake access homes is $90,000 which will buy you a two bedroom cottage in the Delmar Association.  The most expensive lake access property is $530,000 for a three bedroom in Assembly Park on the north side of the lake. 
     Lakefront homes start at $360,000.  That is enough for a tear down on Bennett Street near American Marine.  The most expensive home on the lake may also be a tear down.  It is a 8,500 square foot, six bedroom home on 450 feet of steep North Shore frontage.  It is currently listed for $1,900,000.
     The supply of lake access condos is also lower compared to prior years.  There are only 10 units on the market compared to 18 in 2018 and 23 in 2017.  Prices start at $89,900 for a one bedroom condo/hotel room and increase to $299,900 for a two-bedroom hilltop unit in the Delavan Club which is on the Outlet of Delavan Lake.
     The best value for a lake access property is located at 4215 Beach Drive.  This three bedroom looks directly down the lake and is part of the well-regarded Highlands subdivision that sports the best beach on Delavan Lake.  The home is available for $247,900.
Lakefront Bargain Hunt Candidate at 1402 Delavan Club Dr.
Click here to take a quick tour

          The best value lake condo is located at 1402 Delavan Club Drive.  Featured on HGTV’s Lakefront Bargain Hunt, this unit has two bedrooms, a lakeside balcony and towering vaulted ceilings.  The unit is currently listed for $199,900.
     The best value for a lakefront home on Delavan is located at 2920 North Shore Drive.  With 75 feet of frontage, this four bedroom two-story has ample deck space, a private pier and a five car “boat garage”.  Listed for $995,000 the property has almost two acres of wooded privacy and water views from most rooms in the house.
The best value for a lakefront home on Delavan is at 2920 North Shore Drive
Click here for more information about this great property