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Showing posts from July, 2020

Shrinking Inventory Drive Up Delavan Lake Prices

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     Sales of Delavan Lake properties slowed and prices rose during the first half of 2020 compared to last year due to a lack of inventory and increased demand.   Many buyers are frustrated that they cannot find suitable homes to purchase which is driving up the price of ones that are for sale.      For the first half of the year, there were five lakefront sales compared to seven last year.   Lake access homes showed 20 sales compared to 22 last year.   Lake condo sales fell to five for the first part of 2020 compared to 16 sales in 2019.      Sales for the lakefront properties ranged from $395,000 for a one bedroom cottage on the South Shore to $1,475,000 for a custom built five bedroom home on 120 feet of South Shore frontage.      The range for lake access homes was $99,000 for a two bedroom home in the Delmar subdivision that needed some repair work to an incredible $427,000 for a four bedroom Delmar home that sold for $150,000 over the assessed value.      Lake access con