Small Spaces Back in Demand Around Delavan Lake

     Demand for smaller lake access properties has been increasing in the past few months as some cautious home buyers venture back into the second home market.  After seeing prices plunge by 30 percent or more, value seekers and smart investors are getting the buying bug.
     Properties gaining popularity among the savvy set are one bedroom condominium units with lake views and plenty of extracurricular amenities.  Examples of those in demand are found in the Delavan Club complex along the outlet of Delavan Lake.
View from the Delavan Club balcony overlooking the pool and lake.
     With its near-Olympic size outdoor pool and upgraded fitness room, sauna and steam room, the Delavan Club provides a cost-effective way for those desiring to give lake living a try.  One bedroom units now start at only $139,000 and include the use of the pool, club house, tennis courts, volley ball courts and boat launch.
One bedroom condo unit with granite counters, breakfast bar and walkout patio.
     The facility also includes an "in-out" service for boat launching.  This feature makes boat ownership simple for inexperienced mariners.  By calling the service in advance, a condominium owner is welcomed at the boat launch with a craft running and ready to enjoy a day on the lake. When finished, the service pulls the boat out of the water and stores it until the next visit.
     Another small-sized real estate segment seeing demand is the cozy cottage option.  Lake access cottages priced under $100,000 with a variety of benefits including private boat launches, waterfront parks, swimming piers and beaches.
     There are five major associations around Delavan Lake that contain these bargain cottage options. They include the subdivisions of Delmar, Highlands, Ravenswood, Viewcrest and Assembly Park. Each has a variety of amenities for owners and they have a range of annual fees between $120 and $780.
     An example of the type of cottage in demand can be found on Mason Street in the the Delmar Subdivision.  There are three properties for sale on this street which is just one block off the lake. Benefits include a private boat launch, swim pier, beach, two parks, volley ball and basketball.  The set up is ideal for families that want to ensure there are plenty of activities for children and guests.
Tire swing and beach access included at 2700 Mason Street
     Prices on Mason Street start at just $72,000 for a two bedroom house that includes a one-car garage, large back yard, fire-pit, and of course; a tire swing.
   

Comments

Post a Comment

Popular posts from this blog

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 Looking at the lake from the main floor office at 3307 South S
Read more

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 ranged from $45,000 for
Read more

Delavan Lake First Half 2023 Real Estate Update

Image
      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
Read more