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.

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