Something the market doesn’t discuss very often is the relationship between the lakefront homes sold and the total addressable market. You can see the total front feet sold tends to fluctuate between 1650 and 2600 feet on any given year. Did you know there is approximately 74,500 feet of private, residential frontage on Geneva Lake? The market likes to say there are 21 or 22 miles of frontage, but that includes municipal, commercial, and association frontage. The 74,500 number is reasonably close to the actual private frontage total, and when considering we sold 1740 feet of frontage last year (excluding vacant land sales), that means less than 2.4% of the lakefront traded hands last year. If you’d like to understand why pricing is where it is on Geneva, it’s imperative you understand just how little of our total market supply trades each year.
Data from MLS and known sales. Data from 1/1/23 to 12/19/23, residential single family sales with private frontage only. South Shore Club and vacant land sales excluded. Information deemed reliable but is not guaranteed.