April 03, 2009

Delavan Lake 1st Quarter Summary

Posted to Delavan

Sales of Lakefront and Lake Access Property on Delavan was at historic lows for the first quarter of 2009.

HOME SALES
For the first quarter, there were not any lakefront properties sold and only two lake access properties sold. The lake access properties ranged from a $177,000 foreclosure to a $281,750 home with three bedrooms and a swimming pool.

CONDO SALES
The Delavan Lake condominium market was even worse. There has not been a single sale all year.

CURRENT MARKET HOMES
There remain 89 single family homes on the market with lakefront or lake access on Delavan Lake. This is up from 75 at the beginning of the year. The lake access properties start at $85,000 for a small two-bedroom cottage and increase to $499,000 for a four bedroom home with lake views and a swim pier. Lakefront homes start at $294,000 for a three-bedroom home on Delavan Inlet and progress to $2,900,000 for a four bedroom older home with 225 feet of frontage on North Shore Drive.

CURRENT MARKET CONDOS
In the condo arena, there are 98 units still available with lake access on Delavan. This is up from 79 at the beginning of the year. The properties range from a $95,000 one-bedroom condo/hotel to $1,880,000 for a yet-to-be-constructed three-bedroom suite.

BEST VALUE LAKE ACCESS
The best value for a lake access property on Delavan is located at 4325 East Drive. Listed at $164,900, this remodeled two-bedroom home has a swim pier, one-car garage, boat launch, park, and beach area. It is ready to move in and enjoy.

BEST VALUE LAKEFRONT
The best value for a Delavan lakefront is located at 1824 North Shore Drive. This five-bedroom, 2.5 bath home has 60 feet of lakefront, a private pier, third floor recreation room and a 2.5 car garage for toy storage. Listed at $1,150,000, this home is $200,000 less than its closest competition.

Posted By: Ryan Simons

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