Home Buying in Waukesha>Question Details

Tim, Home Buyer in Milwaukee, WI

newlyweds interested in buying on a lake in the greater waukesha area. where is biggest bang for buck?

Asked by Tim, Milwaukee, WI Sat Jun 14, 2008

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Here are some stats on Lake homes in Waukesha County with full lake frontage (not access):
(Price range searched was $200,000 to $1,000,000)

Active Listings: (Homes currently for sale)
Pewaukee 29 listings, Range $319k-$995 Average drop in list price 8.12%
Oconomowoc 54 listings, Range $314-$999 Average drop in list price 8.25%
Muskego 29 listings, Range $319-$995 Average drop in list price 6.9%
Merton 16 listings, Range $449-$997 Average drop in list price 9.6%
Delafield 23 Listings, Range $359-$987, Average drop in list price 8%

Here are the Sold Lake homes in the past year with all price ranges considered. Again with full lake access only. Listings with views of lakes or partial access were excluded. Keep in mind this study does not take into account home size, # of bedrooms, & garage space. Only pricing and lake access.

Pewaukee 13 Sold Average List Price $489K Average Sold Price $459K Percent Price Reduction 10%
Oconomowoc 45 Sold Average List Price $560K Average Sold Price $510K Percent Price Reduction 12%
Muskego 16 Sold Average List Price $330K Average Sold Price $306K Percent Price Reduction 5.4%
Merton 28 Sold Average List Price $105,1K Average Sold Price $969K Percent Price Reduction 8.69%
Delafield 37 Sold Average List Price $770K Average Sold Price $692K Percent Price Reduction 9.62%

Looking at the stats I would agree that Muskego has the most affordable lake homes with Oconomowoc coming in second. You can also see that Muskego has a closer list to sale price which tells me that supply and demand are probably closer than the other areas. I hope this information is helpful for you. Good luck.
Web Reference: http://www.belmanhomes.com
2 votes Thank Flag Link Tue Jun 15, 2010
Tim,
I agree with Jeff and suggest Little Muskego Lake. There are currently many homes for sale on this lake, which will give you more "buying power". If you're not currently working with a Buyer Agent, I would be more than happy to show you some of these homes (I have family that lives on this lake and am very familiar with it). Best of luck in finding your home!
0 votes Thank Flag Link Tue Jun 17, 2008
Hi Tim,

Right now I would say that if you wanted to be right on the lake, you could take a look at Little Muskego, I know of one in particular that is an excellent buy. If you would like to be near the lake with water access check out the houses on the channels on Nagawicka.

If you would like more detailed information, just let me know via my website.

Have a great weekend.
Web Reference: http://www.JeffGramins.com
0 votes Thank Flag Link Sat Jun 14, 2008
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