There’s this road on the south side of the lake whose name generates some interesting commentary and even more interesting pronunciations. Walcowis. If you think it derived from an ancient Native American term, you’re wrong. If you think it’s the name of the old estate that once inhabited those grounds, you’re still wrong (update: the estate was named this, apparently, but that doesn’t change the origin of the name). And if you think it’s the name of a current owner on that lane, you’re super wrong. Walcowis is nothing but an amalgamation of Walworth County, Wisconsin. Any theory as to a sexier or more unique origin is wrong. Sorry to bear this bad news.
Last week I sold a very nice lakefront home on this very nice lane. The home was built just two years ago on a beautiful lakefront parcel with a sweeping lakeside lawn and a delightful wooded approach. I heard about this property from a benevolent agent who was working with the would-be seller and my buyer jumped at the off-market opportunity that I presented to him. $5.79M was our final closing price, and that price lines up nicely with recent sales on Oriole Lane and Basswood.
The state of the lakefront market isn’t something I think about once in a while. It’s something I can’t stop thinking about. It has become me. In that, I offer an apology. It shouldn’t be this way. I should be able to function in normal society without concerning myself with the state of the lakefront market. I should be able to go for a boat ride and just enjoy the water and the sun. I cannot. I must scan the shore thinking about possible listings and thinking about possible deals. I cannot stop thinking about it, no matter where I am or what I’m doing. Because of this terrible affliction, I offer you the greatest source of intel into the conditions of our market. My unfortunate disease is your gain, assuming you’re considering selling or buying something on the lakefront.
Today the market feels different than it did in the spring. The spring was choppy on a week to week basis with some weeks feeling confident and others slightly fearful. Some weeks had lots of showings and contracts and others did not. It was an odd spring that trended positive. The mood over the past few weeks has switched entirely and completely to confidence. There is no pause in this early Lake Geneva summer. Lakefront buyers outnumber would-be lakefront sellers by the widest of margins. Inventory that might come to market hasn’t yet. Buyers are ornery and anxious. Others that are contemplative are being left behind. Sellers are content. Brokers? Well I’m hunting down deals every day, because I can’t help myself. The market will some day cool and the prices will temper. When will that happen? I’m not sure. I know it’ll be tied to the stock market, but I also know something else: The calm is not returning this summer. Expect the market to continue to rip as our warm sunny days stack up.
I’m pleased to tell you about this Walcowis sale. The sale pushes by 2021 sales volume to nearly $50,000,000. That’s a number that no one has every found in early June, and I’m humbled by it. If you’d like to buy or sell a piece of this lakefront, I’m here to help. Next week I’ll let you know about another off-market lakefront sale I facilitated on behalf of a buyer and seller. If I’m lucky, sometime between now and then I’ll get out on the lake, and I’ll try my absolute best to not scan the shoreline for houses that I might be able to sell (just kidding, I can’t help it).