I didn’t have a great summer. My superjet sat on the lift, used only by my son and perhaps twice by me. The family had a new boat this year, and I used it, some. My daughter sailed, a bit, and I went with her on at least one occasion. Just kidding, it was only once. I didn’t eat casual summer dinners by the water. I didn’t walk the shore path. That’s because I was too busy. June was rainy and then when the summer weather arrived, the activity tagged along. My summer was a blur, a missed opportunity, but only because I was busy with this thing called work. Thankfully, now that the summertime deals had time to gestate, it’s time for some closings.
Over the course of the past two weeks, I was pleased to close several of these summertime deals. First up, a parkway home in Cedar Point. This one was a basic cottage in a special setting. Parkway homes are rare, but the market tends to appreciate them sometimes more than others. This summer the cottage went overlooked, before finally catching the eye of a couple of buyers. As with any deal that features one property and multiple buyers, there could be only one successful buyer. In this case, the deal closed for $630k and I was pleased for the seller, and excited for the buyer.
Last week, I closed on a classic cottage in The Lindens. In case you didn’t know, there are not very many locations around the lake where off-water homes can find support in the $1.5-2MM range. Those associations where this is most likely to occur include Loramoor, Glen Fern, The 700 Club, Black Point, and The Lindens. This sale closed at $1.625MM and I was pleased to represent the buyer who will now go about instilling some of his distinctively stylish touches into this lovely home.
I also closed on a condo at Abbey Ridge, this one for $560k. I sold that condo to the now-seller last summer for the same price. The seller moved onward and upward, and sold the condo to a new buyer looking for their own piece of the Fontana scene. In this case, $560k was a nice price for the buyer, and nice enough for the seller who had already moved on.
On Friday, I closed 246 Circle Parkway in Williams Bay for $1,820,000. I was pleased to work for the seller and with the buyer in this transaction. As is standard issue here, the seller moved on to another lake property, and the buyer was a prior client who found the property, mostly the view, to her liking. If we consider some basic math, we can see a spec home on a 60′ lot in Cedar Point pending sale with a $4.8MM ask. This home on Circle, with that enormous view and 92′ of frontage, just sold for $1.82MM. If you want to renovate this house, go for it. If you’d like to tear it down someday and rebuild, well then go for that, too. The market has spoken, and 246 Circle was a solid value for the buyer, and a solid sale for the seller who moves on without moving away.
The sales this week push my 2019 sales volume over $37,000,000, which is a terrific thing. But it isn’t the only thing, as increasingly I’m driven by helping buyers and sellers maneuver in this sometimes tricky market. Expect the sales cycle to continue this autumn, as my summer deals slowly close and new falls deals fall into place. If we were curious how the 2019 year would turn out, I think our curiosity should turn to confidence. It’s been a productive year, and it looks like the volume from the summer is rolling right into, and through, fall.