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Delavan Lake, WI 3Q Update

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  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 the Lake Lawn devel
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Delavan Lake, Wisconsin 2024 Real Estate Update

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  Delavan Lake, Wisconsin property sales continue to be consistent with well-priced homes selling quickly and inventory of both Lakefront and Lake Access Homes in short supply. For the first six months of 2024, there were three lakefront homes sold and 28 homes with lake access  sold.   The lake access homes were bolstered by sales of the new Lake Lawn Harbor Club development which saw prices range from $822,192 to $1,249,234.   These units share access to the water, but do not have a dedicated boat slip.   The three homes with a dedicated boat slip and their own private frontage sold at prices that ranged from $920,000 to $1,525,000. Recent Delavan Lake Condo sale at 2159 Landings Lane. During the first half of the year, there were 11 condos sold with lake access.   Of these sales, three were condo/hotel rooms that cannot be lived in full time.   Those sales ranged from $59,900 to $175,000.   The standard full-time condos ranged from $210,000 for a one-bedroom unit in the Delavan
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Delavan Lake, WI 2023 Real Estate Summary

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  Delavan Lake Property sales held steady in 2023 as inventory remained limited for all home types. For 2023, there were 55 lake access homes sold with 12 of them being lakefront properties.   This compares to 55 lake access homes also being sold in 2022 with 10 of those having private frontage. The lake access homes ranged from $73,000 for a three-bedroom cottage that was in the middle of an extensive remodeling project, to $448,000 for a five-bedroom walk-out ranch in the Highlands Subdivision on the west end of the lake. The least expensive lakefront home sold for $565,000 for a small two-bedroom in the Ravenswood Subdivision while the highest priced sale was $4,125,000 for a furnished five-bedroom two-story on 76 feet of South Shore waterfront.   We also saw the first Lake Lawn Harbor Club sale in 2023 as the newly constructed five-bedroom brought in $1,126,811. 2023 saw the first sale of a Lake Lawn Harbor Club unit. Currently, there are only 12 lake access homes for sale wi
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Delavan Lake First Half 2023 Real Estate Update

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      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
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2022 Delavan Lake Real Estate Summary

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  Delavan Lakefront sales struggled in 2022 while lake access homes and lake access condos showed strong results compared to the prior two years. There were only eight lakefront sales on Delavan Lake compared to 17 in 2021 and 2020.   The lack of sales was due to limited inventory as prices shot to record levels. Lakefront sales ranged from $575,000 for a two-bedroom, two-bath home on the Inlet and progressed to $3,125,000 for a six-bedroom, seven-bath home on 111 feet of prime South Shore frontage. This Delavan Inlet home sold for $575,000 in 2022. The most expensive sale in 2022 was for $3,125,000 Lake access homes started at $95,000 for a fixer-upper in the Delmar Subdivision and topped out at $618,000 for a three-bedroom ranch with an in-ground pool and boat slip. Lake condo sales were sharply higher with 41 sales compared to 20 in 2021 and 24 in 2020.   Most of the activity was due to Condo/hotel liquidations (22 units) that ranged from   $25,000 to $150,000. Condos that can
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Delavan Lake Sales Fall in First Half of 2022

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  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 ranged from $45,000 for
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Lake Geneva Real Estate Market Shifts Drastically

      The market share break down for real estate in the Lake Geneva area has shifted drastically over the past 10 years.  Top player Keefe Real Estate sold out to Compass, based in New York and has seen sales plunge as a result.      For the first quarter of 2012, Keefe had a market share of 53.93% of the sales in Walworth County.  For 2022, this fell to only 22.24%.  Rival Shorewest Realtors saw their market share fall from 13.14% to 5.61% while new comers Geneva Lakefront Realty and @Property muscled in at 20.21% and 7.52% respectively.      The change in technology and the ease of individuals to find homes on their own has lessened the stranglehold that large real estate companies used to have.  Now, market share goes to the nimble, smaller firms that show they can compete on a personal level and react to market changes more swiftly than corporate controlled companies.
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