2025 Lake Geneva Real Estate: A Year of Plot Twists, Price Psychology, and ‘Wait, Did We Have a Bidding War… in November?!’

ByJade Goodhue | Lake Geneva Realtor

If the Lake Geneva housing market were a novel this year, it wouldn’t be a dystopian crash story (despite what the national headlines love to predict).

It would be a choose-your-own-adventure — where some homes fly off the market in days, and others sit like they’re waiting for a plot twist that never arrives.

⭐ 1. Prices stayed remarkably resilient

Even in a higher rate environment, Lake Geneva remained one of the most insulated Midwest markets.

⭐ 2. Buyers didn’t disappear — they simply became allergic to delusional pricing

Selective ≠ soft.

⭐ 3. Turnkey became king (again)

Second-home buyers increasingly demanded:

• move-in ready
• modern
• lifestyle-aligned

Not “charming fixer-uppers with potential.”

⭐ 4. Overpricing became the fastest route to market purgatory

And buyers were happy to walk.

Absorption rate shows how fast homes are being purchased relative to what’s available:

• Walworth County: 3.53 months
• Lake Geneva: 3.06 months

➡️ Above 6 = buyer market➡️ Between 4–6 = balanced➡️ Below 4 = seller-leaning

On paper, being under 4 monthsdoesput us back in seller-leaning territory.But in winter? The lived experience is more balanced for a few reasons:

1. Winter demand naturally softensPeople pause moves for holidays, weather, and travel.

2. Higher-end listings linger through winter anywayLuxury buyers aren’t rushing, and lakefront demand always dips in Q4/Q1.

3. Buyers aren’t desperate—rates, budgets, and timing matter more right now

What’s this mean?Months of Invenotry has dropped, so we’re back in seller’s market territory.But, buyers aren’t desperate, which means sellers can’t be dictators, in most cases.

Most sold in Walworth County:$300K–$800KMost available:$800K–$1.5M

But the story behind that data is what mattered all year:There isplenty of high-end supply, without proportional high-end absorption.

Here’s what’s sitting:

Last month in Walworth County had:

• 310 active listings
• 109 sold

Lake Geneva had:

• 27 active listings
• 23 sold

Walworth County:Down to 39.3 daysLake Geneva:Down to 51.1 days

This happened despite:

• more supply
• lower total sales
• higher luxury inventory

Contradiction? Absolutely.And it happened all year long. Even now despite the holidays!

Which brings us to the plot twist of 2025…

You didn’t imagining it.

• Some homes are flying.
• Some homes are fossilizing.

Welcome to Lake Geneva.

Days on Market goes down because the only homes thatdosell are the well-priced ones — and those sell quickly. Meanwhile, the overpriced listings stay on the market, but they don’t factor into DOM because they never actually sell.

So active listings appear steady, sales appear low, and yet month’s of inventory drops — because absorption improved for the homes buyers actually want.

THIS is why the market feels slow… and fast… at the same time.

I’d been showing a buyer homes for a few weeks now. The week of Thanksgiving, we see a home at a great price that’s impeccable! I reach out to the listing agent to teller I’m going to write, she already has an offer in hand. By the time I send her ours, she already has another offer. We ended up offering 3% over the asking price just to get the deal. Mind you,

Thanksgiving is the most travelled holiday in the United States. Business should have gone quiet, but instead, we had a bidding war.

✨Moral:Buyers aren’t disappearing.They’re simply done entertaining delusional pricing. They are willing to pay a little more for a good deal, rather than too much for a mediocre one.

If you watch my earlier videos, I mentioned that prices were going to hold strong and it did.

Walworth County:96.3%Lake Geneva:96.6%

Which means homes are selling for:

• about 4% below list in Walworth
• about 3.5% below list in Lake Geneva

But in a balanced market? That’s awesome!

This shows:Buyers will pay near-asking (if not more in the right circumstance) — if the home is positioned realistically.

A recurring theme this entire year.

Walworth County:$450,000Lake Geneva:$588,311

What does that mean? Prices aren’t skyrocketing, but they’re not dropping either.

This is what ahealthy Midwest marketlooks like.Stable. Predictable. No chaos.

In the $1M+ range, of the 62 homes sold, they sold at an average of 3.38% BELOW asking. This jives with what we saw:

They wanted:

• Move-in ready
• Modernized
• Well maintained
• Well-presented
• Well-priced
• They don’t want inherit deferred maintenance.

✔ Here’s the important nuance: There isplenty of high-end supply, butnot enough high-end demandto absorb it all. Just because they can spend the money, doesn’t mean they will if it’s overpriced.

The Geneva Lakes market spent all year:

✔ filtering out overpriced listings✔ rewarding realistic sellers✔ empowering confident buyers✔ stabilizing price trends

Balanced markets create healthier outcomes for everyone.

If you want a price valuation that isn’t automated, generic, or algorithmic—reach out.

I read the market like it’s my morning coffee, and I’ll tell you exactly where your home sits today.

Make your next move… Legendary.