Friday, October 4, 2019

Delavan Lake Real Estate Update

     The Delavan Lake real estate market picked up over the first nine months of 2019 compared to the previous year, but sales were still held back by the lack of inventory in all areas.

LAKEFRONT SALES

     Lakefront home sales for the first nine months of 2019 totaled 13 units compared to only seven sales for that time period in 2018.  Prices this year started at $270,000 for a cute two-bedroom on the Delavan Lake Inlet and topped out at $1.4 million for a distressed six-bedroom North Shore property that included 453 feet of frontage and 8.7 acres.  The North Shore property was initially listed for $3.3 million.

Recently sold for $1.4 million, this Delavan Lakefront deteriorated over the years.

LAKE ACCESS SALES

     Homes with lake access on Delavan also saw increased activity with 2019 nine month totals coming in at 37 compared to 32 sales last year.  The homes ranged in price from $90,000 for a two-bedroom cottage in the Inlet Oaks Subdivision to $510,000 for a four-bedroom custom home in the Windtree Association located off of North Shore Drive.

CONDO SALES

     Sales of lake access condominiums also improved with sales through the first nine months coming in at 22 units compared to only 15 sold in 2018.  The prices for condos began at $46,000 for a condo/hotel room in the Lake Lawn Resort and topped out at $350,000 for a three-bedroom 2,200 square foot unit in Delavan Gardens.  Delavan Gardens is located on the North Shore, near the Delavan Lake Yacht Club and includes a boat slip and private boat launch for owners in the complex.


WHAT IS LEFT FOR SALE?

     Currently, there are only 16 lakefront properties available on Delavan Lake.  The homes begin at $299,900 for a “tear-down” at the end of Bennett Street off of South Shore and graduate to $1,885,000 for a seven-year-old, 7,104 square foot home at the end of Borg Road.  Last year, there were 15 lakefront options available.

     If you are seeking a lake access property, there are 27 currently available, which is down from 31 at this time last year.  The lake access homes range from $90,000 for a two-bedroom cottage in the Inlet Oaks to $469,900 for a remodeled four-bedroom in the Windtree Association.

     There are only 11 lake access condos available at this time.  This is less than the 15 we saw last year at the start of October and 18 the year before.

BEST VALUES

     The best value lakefront home is now located at 3010 North Shore Drive.  This four-bedroom, Prairie-style home includes a 100 foot lakefront park, boat shed and screen porch overlooking a wooded landscape.  The home is listed for $700,000.

3010 North Shore rests in a wooded setting.
Lakefront park and boat shed that is included with 3010 North Shore Drive.
Click here to tour this home.

     The best value for a lake access home in located at 2908 Jones Street in the Delmar Subdivision.  This two-bedroom cottage has a fenced back yard and detached two car garage.  The property is offered at $149,900.

     The best value for a Delavan Lake condo is located at 1402 Delavan Club Drive.  This unit looks over the water with a private balcony, has a soaring cathedral ceiling and a one-car garage.  The unit is available for $199,900.


1402 Delavan Club on Delavan Lake, WI

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