Delavan Lake Real Estate Q1 Update
The Delavan Lake real estate market has remained remarkably tight over the first quarter of 2021 with prices continuing to move up and the number of homes sold at low levels due to the lack of inventory. Many are seeking lake properties, but few are to be found.
For the first quarter there were 12 homes and condos sold with lakefront or lake access. This compares to nine in 2010 and 15 in 2019. Of the sales, two were on the main body of Delavan Lake. One on the North Shore for $920,000 that needed extensive updating, and one on the South Shore for $1,150,000 that was remodeled and ready to use for the summer. The North Shore home was a four bedroom on 60 feet of frontage while the South Shore property was also a four bedroom on 63 feet of frontage.
For those seeking a Delavan Lake property, the options are very limited. There is one home currently listed on the main body of the lake. It is a new construction listed for $1.4 million and it is already under contract. On the Inlet, there is one home listed for $560,000 and it is under contract. On the outlet, there is a three bedroom on 92 feet of frontage available for $779,000. Last year, there were 10 homes available with water frontage.
The only Delavan Lakefront property currently available is located at 1950 Lake Trail Drive.
Views from the patio at 1950 Lake Trail Drive, Delavan Lake, WI
There are a few more lake access properties available with 12 currently listed for sale. Of those, only two are still available to purchase. Last year, we had 22 homes available with some type of lake rights on Delavan.
With regards to Delavan Lake condos, there are 18 currently available compared to nine last year. However, of the condos listed for sale, 17 are condo/hotel rooms which cannot be used more than 28 days out of the year and have other limitations. There is only one standard lake access condo on the market, and it is already under contract.