It’s been a while since my last lakefront condo update, so here you are. In a word, the lakefront condo market is slow. Bruised and battered, but still kicking. Prices have remained relatively stable, although I’m guessing in most buildings prices are off around 10% from 2007 market highs. There are currently only 13 lakefront condominiums for sale on Geneva as of this morning. That’s not a lot, but the inventory is still solid enough to provide a condo buyer with a quality selection. There aren’t any units on the market in either of the Bay Colony’s, The Fontana Club, Stone Manor, or Somerset. For this update, we’re obviously only considering multiple family condominium complexes, not single family developments organized under condominium ownership. Current market inventory is as follows…
Fontana Shores 5 units priced from $387,500 to $759,900. A historically high number of units on the market right now, of which my 3 bedroom priced at $599k is probably one of the best values. I’m not just saying that because it’s my listing, I’m saying that because when you compare all of the inventory in the building, that unit is the most attractively located and priced.
East Bank Condominiums 1 unit priced at $1.625MM
Vista Del Lago 1 unit priced at $490k. An amenity rich complex in Lake Geneva, with boatslips, indoor pool, tennis courts, and detached garages. Dues and taxes are… healthy, but the complex is popular and with only 1 unit available out of an existing inventory of 64, that’s a sign of happy, stable ownership.
Harbor Watch 2 units priced from $1.099MM to $1.495MM. 2 units on the market represents half of the total inventory in this small association. An exciting downtown location, beautiful views, shore stations available, and square footage that cannot be matched in this lakefront market at these prices.
Geneva Towers 3 units priced from $649k to $1MM. Not truly a lakefront condominium, but since it’s close to the water and the views are phenomenal, we’ll include it in the discussion.
Bay Shore Villas 1 unit on the market priced at $485k. This is my listing, and it’ll be the star in the April 11, 2009 Dave Curry Open House Extravaganza. It’s the most economical two bedroom on the water right now, with slip available, lakeside swimming pool, and a quiet Williams Bay location.
All in all, the lakefront condo market is healthy, but the activity is relatively low. I’ve always said that the lakefront condo is the easiest and most economical way to enjoy the lakefront lifestyle on Geneva. A view of the lake, possibly a slip, possibly a pool, and great proximity to the water is available at a price that in many complexes can be had at a fraction of the cost of private single family lakefrontage. I’d be more than happy to show you around the lakefront condo scene, after all, since 1999 no agent has more Geneva lakefront condo transactions than me. The lakefront condo has long been a breeding ground for future single family lakefront owners, so perhaps this is a less painful way to give Lake Geneva a try. I assure you, she won’t disappoint. If you’re looking to be dissapointed, drive East for a vacation to the big green lake and you’ll find disappointment galore. Be sure to read the back of the phone book so you know what to do in case of a nuclear reactor malfunction!