This was a nice little sale for the buyer and the seller and the market. My most recent lakefront sale, this of a classic cottage (with updates) on Outing on the north shore of Williams Bay, helps the market understand something it’s been contemplating: Where’s the floor on the lakefront? Last year there was a sale of a basic home on Outing (this is the road that’s immediately to the West of George Williams College, which should soon be The Preserve, a world class country inn), that sale just a bit north of $3M. That property was the second lowest priced lakefront sale of 2023. There were a couple more in the $2.3-3.4M range, which cemented the entry level definition on Geneva in that broad range. But that was 2023, and we’re now almost done with 2024. The market has had many moods this year, but has that impacted the definition of “Entry Level Lakefront?”
Well, yes, it has. This sale at $3.125M matched the last sale on Outing, and gave the market all of the proof it needed to know exactly where our lakefront floor lies. I sold this cottage off market, largely because the seller side was using the home all summer (as they have for the last several decades worth of summers), and they weren’t keen on open market interruptions. That, and I knew the lakefront floor needed to be reaffirmed. Several showings, multiple offers, and one contract later, we’ve learned what we needed to learn. Entry level on Geneva Lake is indeed $3.1M-$3.4M, and that’s the end of the curiosity.
To the sellers who trusted me to help guide them through the bittersweet end to their multi-decade run on the lakefront in this cherished cottage, I’m grateful. To the buyer who found their way to the front row after several decades wishing for that upgrade, congratulations. Every day at the lake is a good day, but it cannot be overstated just how much better it is on the lakefront. Looking to sell into a recently strengthening market? I’m here to help. Looking to buy and have visibility into these sorts of deals that Zillow doesn’t know about? Let’s talk.