Sylvan and Otter Lakes Lakefront Real Estate Sales
Sylvan Otter Lake is a 530 acre all sports lake located in Waterford and West Bloomfield Townships and the Village of Sylvan Lake- south of Highland Rd (M-59), north of Orchard Lake Rd, east of Cass Lake Rd and west of Telegraph. Weed control is taken care of by the Sylvan Otter Lake Association. There is a state licensed water ski course on the south side of Otter Lake running along the edge of the swamp. Oakland County Boat Club is a private not for profit social club and marina located in Sylvan Lake since 1912 and is usually in charge of the Fourth of July fireworks.
Sales for lakefront homes in 2010 were pretty brisk- 15 closings as opposed to 8 closing in 2009. Prices in 2009 ranged from $68,000-$534,000- 4 bank owned sales and 1 short sale. There was only 1 house that sold for under $100K but on the other end of the sales spectrum there was only one house that sold for over $235K. 2009 was very sad when you consider in 2005 there were 7 sales reported to the MLS and they ranged in price from $315,000-$617,500.
2010 fared much better than 2009 with 15 sales ranging in price from $60,160-$800,000. Again there was only 1 sale below $100,000 and it was a foreclosure sale. 11 of the sales were $230,000 and up with 3 sales in the $300's, 1 for $430,000, 2 in the $500's and then a sale for $800,000. 3 of the 15 sales were bank owned and 4 were short sales- a much lower percentage of distresses sales than in 2009.
So far in 2011 (Feb. 28, 2011) there have been 2 closed sales- a bank owned home that sold for $150,000 and a regular sale for $314,000. There are currently 3 sales pending- a foreclosure asking $115,500, a regular sale asking $179,900 and short sale asking $182,500. There are currently 7 houses for sale on Sylvan Otter Lake ranging in asking price from $196,565-$850,000- 1 bank owned, 1 short sale and 5 regular listings.
If you are considering buying or selling a home on Sylvan Otter Lake please don't hesitate to contact me.
Jackie Hawley
cell: (248) 736-6407
email: Jackie@JackieHawley.com
Sylvan Otter Lake Detailed Sales Information
water skiing photo from flickr courtesy ack2
swans photo from flickr courtesy of John G Luker
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