Thursday, April 30, 2020

Delavan Lake Real Estate Report

     Real estate sales around Delavan Lake slowed for the first quarter of 2020.  For the first three months of the years, there were only nine sales of homes and condos with lake rights.  This compares to 15 sales in the first quarter of 2019.  Two of the sales this year were lakefronts.  One was a four bedroom, three bath walk-out ranch on 75 feet of frontage that sold for $900,400 and the other was a new construction on 120 feet of frontage that sold for $1,475,000.
     The inventory of homes remains very tight if you want something that is on the lake or has access to it.  There are ten homes with water frontage available and 22 with lake access.  The availability of condos is even tighter with only nine units on the market.  Six of those are condo/hotel rooms and cannot be lived in full time.
     For a lake access home, prices start at $105,000 for a small two bedroom home in the Inlet Oaks Subdivision and progress up to $385,000 for an A-Frame that includes a boat slip in Lakewood Estates.
     If you want to be directly on the main body of Delavan Lake, the starting price point is $599,999 for a small three bedroom on the South Shore that sits on 40 feet of lakefront.  The most expensive offering is on North Shore and is a 7,104 sq ft home with six bedrooms and seven bathrooms.
     The best value on Delavan Lake is located at 2316 Lake Shore Drive.  This home is in the South Shore Manor subdivision and includes a private pier.  Priced at $599,999, it is also the least expensive home on the water.
2316 Lake Shore Drive

     The best value for a lake access home is at 2549 Tilden Avenue.  This Delmar Association home has four bedrooms, two full baths and a two car garage.  The home is priced at $178,500 and includes the use of a boat launch and swim pier.
2549 Tilden Avenue

Wednesday, February 5, 2020

Carefree Living in Geneva Landings

     When you come up to Delavan Lake, what do you want to do?  Relax.  One of the best ways to do that is with a Condo in the Geneva Landings complex, located on the outlet of Delavan Lake.
     With a unit in Geneva Landings, you have access to an outdoor pool, private club house, exercise room, piers, and a boat launch.  Best of all, there isn't any lawn mowing or snow shoveling.  Those terrible tasks are taken care of for you.
Inviting pool at the Geneva Landings complex

     Right now, there are two great units available in the complex.  The first is at 2205 Landings Lane.  This two bedroom, two bath unit is being sold as a turn-key vacation spot with furniture, dishes and electronics all included.  It is currently being offered for $249,000.
2205 Landings Lane on Delavan Lake.
Click here to tour the property

     The second unit is located at 2236 Landings Lane.  This condo has been completely remodeled and is most likely the nicest unit in the complex.  Wood floors, walk in shower, Onyx counters, two master suites and a balcony overlooking the water are included.  Listed for $259,000 you can purchase before spring and be ready for summer activities.
2236 Landings Lane on Delavan Lake.
Click here to tour the property

Tuesday, January 14, 2020

Strong 2019 Delavan Lake Real Estate Sales Deplete Inventory

     The sales of Delavan Lake properties in 2019 has caused a shortage of homes available for the start of 2020.  For 2019 there were 20 homes on Delavan Lake that sold compared to 15 in 2018 and 25 in 2017.  Sales of lake access properties were also strong with 49 sales in 2019 compared to 45 in 2018 and 46 in 2017. 
     Sales of Delavan Lakefronts ranged from $247,500 for a tattered five bedroom cottage off of Bennett Street on the south shore to $1,586,304 for a custom new construction home just a short distance away.
     Lake access properties that sold in 2019 ranged from $42,000 for a decaying four bedroom on Orchard Street in South Shore Manor to $510,000 for a four bedroom two-story in Windtree Acres on the north side of the lake.  The Windtree property featured lake views from a wrap-around deck and a deep water boat slip.
     The sales of lake access condominiums also soared last year with 28 units sold compared to 20 in 2018 and 21 in 2017.  The units ranged from $47,000 for a one bedroom condo/hotel room in the Lake Lawn Resort to a gorgeous three bedroom unit with lake views in Delavan Gardens off of North Shore Drive.
1606 Wesbank Circle on the north shore of Delavan Lake, WI

     The strong sales over the last year have left the inventory of homes in a very weak position.  There are only five condominiums for sale compared to 10 at this time last year and 13 in 2018.
In regards to lakefront and lake access homes, there are only 18 currently on the market compared to 24 in 2019 and 33 in 2018.  This limited supply has pushed up prices across the board with many home owners holding out for top dollars.
Best Value Lakefront
     The best value for a Delavan Lakefront home is located at 2920 North Shore Drive.  Set on nearly two acres of wooded lakefront, this four bedroom, three bath walk-out ranch delivers privacy and excellent lake views.  The property is listed for $995,000 and includes both an attached two car garage and a detached four car garage.
2920 North Shore Drive, Delavan Lake, WI
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Best Value Lake Access
     The best value for a Delavan Lake access property is at 4601 Highland Drive.  This newer four bedroom home has wood floors, a lake view and a boat slip in the Viewcrest Estates.  The home is offered for a price of $339,900.
Best Value Condo
     For the best value condo, there is only one choice.  That is because there is only one unit listed for sale that is not part of a condo/hotel.  The unit is located at 2236 Landings Lane in the Geneva Landings complex which is on the Delavan Outlet.  The two bedroom unit, has been completely updated with two master suites a waterfront balcony and short waiting list for a boat slip.  The unit is available for $259,900.
2236 Landings Lane is the best value condo on Delavan Lake
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