Delavan Lake Sales Fall As Prices Rise

 

     What a crazy year it has been for Delavan Lake property sales.  The tight inventories and multiple offers have pushed up prices to near record levels and the remaining homes are extremely limited and often priced at a rich premium.

     There have been 11 lakefront home sales through the first nine months of 2020.  This compares to 13 homes sold by this time last year.  Prices ranged from $299,000 for a two-bedroom on Browns Channel off of the South Shore to $3,700,000 for a 34 acre estate on over 1,000 feet of North Shore lakefront.

This two-bedroom on Browns Channel sold for $299,000 in 2020.


     Sales of lake access homes dropped to only 28 units this year compared to 37 last year.  The decrease was primarily due to lack of inventory.  Prices started at $78,500 for a three-bedroom cottage in the Delmar Subdivision and rose to $700,000 for an updated four-bedroom in the Viewcrest Subdivision at the west end of the lake.

     Lake access condos sales this year have fallen to 14 units compared to 22 sales last year.  Sales started at $39,900 for a Lake Lawn Resort condo/hotel unit and rose to $420,000 for a Delavan Gardens three-bedroom, three-bath unit.

CURRENTLY ON THE MARKET

     There are only eight lakefront properties still available for sale on Delavan Lake.  This is half of what was available at this time last year.  All but two have accepted offers.  The starting point for a waterfront home is $425,000 for a four-bedroom on Browns Channel and prices cap out at $1,950,000 for a three-bedroom on 1.4 acres of North Shore frontage.

One of eight lakefront homes still available on Delavan Lake.
This one is listed for $1,600,000.

     Lake access home supply has shrunk even more with only nine units available compared to 27 available last year.  Prices range from $114,900 for a two-bedroom fixer-upper in South Shore Manor to $525,000 for a three-bedroom in Viewcrest Subdivision that sold for $416,000 just a year ago.

     Condos are in the shortest supply with only one year-round unit available.  It is located in Geneva Landings for a price of $260,000 and went under contract as soon as it hit the market.

Comments

Post a Comment

Popular posts from this blog

Delavan Lake Sales Fall in First Half of 2022

Image
  The first half of 2022 showed a drop in Delavan Lake real estate sales from the prior year due to a lack of inventory. For the first six months of 2022, there was only one lakefront sale compared to eight in 2021.   For lake access properties, there were 19 homes sold in 2022 while there were 25 sold the prior year. The only lakefront property to change hands was a five bedroom home on the South Shore that sold for $2,261,000.   The property had 95 feet of lake frontage and eight garage stalls. The only sale for the first half of 2022 was located on the South Shore of Delavan Lake The sales of lake access properties ranged from $96,000 for a two-bedroom cottage in the Delmar Subdivision on the south side of the water to $580,000 for a large two-bedroom home in Assembly Park on the north side of the lake with expansive views and deck space. For Delavan Lake condos, there were 20 units sold in the first half of 2022 compared to 17 units last year.   Prices rang...
Read more

Delavan Lake, WI 3Q Update

Image
  Real estate sales around Delavan Lake were higher for the first three quarters of 2024 compared to last year.   For the first nine months of the year there were 44 lake access homes sold compared to 33 in 2023. The increase was entirely due to sales of new construction homes in the Lake Lawn Harbor Club development.   There were only six lakefront properties sold this year compared to eight last year. In the condo market, there were 15 lake access condos sold year-to-date compared to 22 last year. Prices of lake access homes ranged from $70,000 for a tear-down in the Delmar Subdivision to $1,348,480 for a four-bedroom new construction in the Lake Lawn Harbor Club.   Lakefront homes sale prices started at $832,500 for a four-bedroom on the Delavan Outlet and rose to $2,039,725 for a five-bedroom Colonial on 60 feet of North Shore frontage. 2140 Blue Heron Drive recently sold for $832,500 Currently there are 17 lake access homes listed for sale with seven being in ...
Read more

Top Five Lakefronts On Delavan Lake, WI

Image
     As the season changes to fall, it is interesting to see what are the five most expensive homes listed for sale on Delavan Lake.  With over 2,000 acres of recreation space, Delavan Lake is an all-sport lake in Walworth County, WI that is less than two hours from Chicago, Milwaukee, and Madison, WI.      #1 - The most expensive listing currently available on Delavan Lake is located at 2938 North Shore Drive.  Listed at $3.3 million, the home sits on 410 feet of steep frontage and boasts one of the most elaborate wine cellars in North America. 2938 North Shore Drive, Delavan Lake View from the Master Suite at 2938 North Shore Drive      #2 - Coming in at number 2 is 3307 South Shore Drive.  Almost directly across the lake from the first home, this 10,000 square foot estate is listed for $2.95 million and includes six bedrooms, eight bathrooms and 200 feet of lakefront. 3307 South Shore Drive, Delavan Lake Loo...
Read more