Delavan Lake First Half 2023 Real Estate Update

     Sales of Delavan Lake properties remained constrained for the first half of 2023.  The lack of inventory was the main culprit along with home owners reaching for excessively high valuations.

     For the first half of the year, we saw three lakefronts sold compared to only one last year.  Interestingly enough, the value of the one sold last year exceeded the total sales price of the three sold this year.

     Lake access sales were equal with 19 homes being sold this year and 19 being sold last year as well.  The price range for lake access homes sold this year started at $124,000 for a small cottage in the Delmar subdivision and increased to $460,000 for a three bedroom ranch in the Ravenswood subdivision at the west end of the lake.  The home in Ravenswood originally listed for $545,000.

     Lake Access Condo sales slowed to 13 in 2023 compared to 20 in 2022.  Units ranged from $43,400 for a condo/hotel room in the Lake Lawn Resort to $410,000 for a two bedroom condo in Geneva Landings that included a large storage unit valued at approximately $70,000.

This two bedroom condo in the Geneva Landings complex sold for $370,000 in 2023

     Currently, there are 15 lakefront and lake access homes available for sale.  This is the exact same number as there was last year at this time.  Prices start at $99,900 for tear down in The Highlands Subdivision to $3,900,000 for a South Shore estate with 2.4 acres, 9,960 square feet of living space and an indoor swimming pool.


     There are nine lake access condos currently for sale.  They start at $46,900 for a condo/hotel room in the Lake Lawn Resort and graduate up to $425,000 for a three bedroom garden unit in Geneva Landings.  Last year, there were 17 units available for sale.

                           

View from 2209 Landings Lane, Delavan, WI.  Currently available for $425,000.

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