Lake Geneva Real Estate Update: What Buyers & Sellers Need to Know Right Now

🔥 The Market Just Shifted—Here’s What It Means for You!

By Jade Goodhue

Thinking about buying or selling in theLake Geneva, WI area? Here’s the inside scoop on what’s really happening in our local market—and what it means for you. Withlow inventory, strong prices, and active buyers, it’s shaping up to be an interesting year for real estate!

📉 Back in a Seller’s Market – Here’s Why

January 2025 brought fewer new listings—no surprise with the freezing weather—but that drop in inventory tightened the market. With fewer homes available, we’ve officially dipped back into aseller’s market:

✅Walworth County:2.88 months of inventory✅Lake Geneva:3.54 months of inventory

💡What this means:

• For Sellers: Less competition means a better chance to sell for top dollar—but only if you price strategically.
• For Buyers: Fewer options mean you need to be prepared to act fast when the right home hits the market.

💰 Sales-to-List Price Ratio: Sellers Holding Strong

Thesales-to-list price ratiotells us how close homes are selling to their asking price—and despite the cold, sellers are still in a strong position.

✅Walworth County:94.2%✅Lake Geneva:90.7% – this number seems pretty low – but as I mentioned, there were only 8 listings in Lake Geneva that sold so the numbers are skewed.

💡What this means:

• For Sellers: Homes are selling close to the list price, but overpricing can lead to price cuts.
• For Buyers: Negotiation is possible, especially in Lake Geneva, but don’t expect massive discounts—sellers are still getting solid offers.

📊 Pricing Trends: Big Gaps Between Listing & Sale Prices

One of the most eye-opening trends?A significant gap between median sold prices and active listing prices—meaning some sellers are aiming high, but buyers aren’t biting at those prices.

✅Walworth County:

• Median Sold Price: $367K
• Median Active Listing Price: $500K

✅Lake Geneva:

• Median Sold Price: $595K
• Median Active Listing Price: $650K

💡What this means:

• For Sellers: Pricing too high could leave your home sitting. Be strategic and realistic.
• For Buyers: Don’t be discouraged by listing prices—there’s room to negotiate, especially in higher-priced homes.

🏡 Most Popular Price Ranges Sold

What price points are moving the fastest?

✅Walworth County:$300K – $399K✅Lake Geneva:$300K – $650K

💡What this means:

• For Sellers: If your home is in this range, you’re in the sweet spot—buyers are waiting for homes like yours!
• For Buyers: Expect more competition in these ranges. If you see a home you love, don’t wait too long to make a move.

⏳ Days on Market: What’s Moving & What’s Sitting?

✅Walworth County:64.3 days (normal range: 40-65)✅Lake Geneva:124 days (normal range: 40-80)[But this is based on only 8 sales, so take it with a grain of salt.]

💡What this means:

• For Sellers: Homes in Walworth County are selling at a normal pace, but if you’re in Lake Geneva, luxury homes are taking longer. The key? Proper pricing and marketing.
• For Buyers: More expensive homes may sit longer, giving you more negotiating power—but lower-priced homes are still moving fast!

🎯 Key Takeaways for Buyers & Sellers

✅Sellers:With low inventory, it’s still a great time to sell—but don’t overprice, or your home could sit longer than expected.✅Buyers:The market is competitive in certain price ranges, but pricing trends show that sellersarewilling to negotiate. Be prepared, pre-approved, and ready to make strong offers.

📞 Thinking of Buying or Selling in Lake Geneva? Let’s Talk!

Whether you’re looking tosell for top dollarorfind your dream home, strategy matters.

📲Reach out todayor visit[@portabletext/react] Unknown block type "span", specify a component for it in the `components.types` propfor expert advice. Let’s make your next moveLegendary!

Reach out to Jade:

Call: 262-261-1433

Email: Jade@LegendaryRealEstateServices.comBook a call:[@portabletext/react] Unknown block type "span", specify a component for it in the `components.types` prop