January 20, 2010

Delavan Lake 2009 Update

Posted to Delavan

2009 sales of Lakefront and Lake Access Property on Delavan were similar to 2008 levels but down from the sales pace of 2007.

HOME SALES
For the full year, there were 11 lakefront properties sold and 24 lake access properties sold. The least expensive lakefront sale was a $280,000 three-bedroom home on the Delavan Inlet while the most expensive sale was a $2,420,000 estate on South Shore Drive. The lake access properties ranged from a $38,000 foreclosed cottage to a $395,000 four-bedroom home in Assembly Park. Last year, there were 12 lakefronts sold and 22 lake access properties sold. In 2007 there were 22 lakefront sales.

CONDO SALES
The Delavan Lake condominium fared much worse. There were only been six sales compared to 17 last year. The sales range from a $91,000 condo/hotel unit on South Shore Drive to a 2-bedroom unit on the Delavan Outlet for $259,000.

CURRENT MARKET HOMES
There are 69 single family homes on the market with lakefront or lake access on Delavan Lake. This is down from 75 at the beginning of last year. The lake access properties start at $60,000 for a two-bedroom cottage and increase to $600,000 for a four bedroom home with lake views and a swim pier. Lakefront homes start at $339,000 for a three-bedroom home on the Delavan Inlet and progress to $2,200,000 for a six-bedroom, six-bath home on South Shore Drive.

CURRENT MARKET CONDOS
In the condo arena, there are 50 units still available with lake access on Delavan. This is down from 79 at the beginning of last year. The drop is a result of listings being taken off of the market without a sale. The properties range from a $75,000 one-bedroom condo/hotel to $379,000 for a three bedroom unit on North Shore with a boat slip and 2-car garage.

BEST VALUE LAKE ACCESS
The best value for a lake access property on Delavan is a 3-bedroom ranch located in off of South Shore. Listed at $128,500, this three-bedroom home has a boat slip and a two car garage.

BEST VALUE LAKEFRONT
The best value for a Delavan lakefront is a five-bedroom, three-bath lakefront on 60 feet of level frontage. The home features a large front yard, spectacular views, a new kitchen and an oversized pier. Listed at $995,000, this home was originally on the market for $1,150,000.

BEST VALUE WATERFRONT
The best waterfront value is a completely remodeled 3-bedroom with a 2.5 car garage on 75 feet of frontage on the Inlet for $339,000.

Posted by:Ryan Simons

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