Explore Walloon Lake, MI Condos for Sale with Lakefront Views

^Condominiums

Walloon Lake

Nestled in the heart of Northern Michigan, Walloon Lake is a picturesque, upscale lakefront community renowned for its sparkling blue waters, charming village vibe, and luxurious real estate. The condos for sale in Walloon Lake offer the perfect blend of tranquility and convenience, appealing to those seeking a serene waterfront lifestyle with modern amenities.

This idyllic area boasts some of the clearest waters in the Midwest and is surrounded by lush forests, walking trails, and world-class recreational activities. Residents enjoy easy access to boating, fishing, paddleboarding, and swimming right from their doorsteps. Most condominiums are designed with maintenance-free living in mind, offering features like private boat slips, community docks, and panoramic lake views.

Real Estate Statistics

Average Price	$1.8M
Lowest Price	$515K
Highest Price	$3.4M
Total Listings	3
Avg. Price/SQFT	$857

Property Types (active listings)

Browse Walloon Lake Condominiums for Sale

• All Listings
• $500,000 - $600,000
• Over $1,000,000

Bedrooms

Bathrooms

Price Range

Save Search

Sort by:

Price, high to low

$3,399,000

4017 N M-75 Highway, Walloon Lake

5 Beds 4 Baths 3,450 SqFt Residential MLS® # 476105

$515,000

4041 Renwick Lane 15, Walloon Lake

1 Bed 1 Bath 981 SqFt Residential MLS® # 476597

Walloon Lake, MI Condos for Sale: Discover Stunning Waterfront Living in Northern Michigan

Walloon Lake, MI Condos for Sale offer tranquil waterfront living with luxury amenities, lake views, and investment potential. Explore listings and insights today.

Why Choose Walloon Lake for Condo Living?

Scenic Beauty and Crystal-Clear Waters

Walloon Lake is one of Michigan’s most beautiful and pristine inland lakes. Located in Charlevoix County, its crystal-clear waters and vibrant natural surroundings make it an idyllic location for anyone looking to live amidst breathtaking beauty. With its calm bays, forested hills, and spectacular sunsets, Walloon Lake captures the essence of Up North living.

Whether you enjoy boating, kayaking, fishing, or simply relaxing by the water, Walloon Lake provides an all-season lifestyle rich in outdoor recreation and peace. The views alone make condo living here feel like a luxury vacation every day.

A Haven for Nature and Water Sports Enthusiasts

Walloon Lake offers more than just pretty scenery—it's a playground for nature lovers and active residents. From paddleboarding and water skiing to snowshoeing and cross-country skiing in the winter, the area supports an active lifestyle all year long.

Wildlife is abundant, and the surrounding forests host miles of trails. Whether you're hiking, birdwatching, or enjoying a picnic by the shore, the connection to nature is part of what makes Walloon Lake condos so appealing.

Check out this video to take a drone tour of Walloon Lake

Overview of the Real Estate Market in Walloon Lake, MI

Current Market Trends in 2025

As of early 2025, the demand for waterfront and luxury condos in northern Michigan has surged. Walloon Lake is no exception. With limited lakefront properties available, prices have steadily increased, but buyer interest remains high due to the exclusivity and prestige of the location.

Condos near Walloon Lake are increasingly favored by retirees, vacation home buyers, and remote professionals looking for serene environments.

Average Prices and Appreciation Rates

Typical condo prices in the Walloon Lake area range between $450,000 and $1.5 million, depending on location, size, and amenities. Over the past five years, property values around the lake have appreciated at an average annual rate of 6-8%, signaling a strong and stable market.

Types of Condos Available in Walloon Lake

Lakefront Condominiums

Lakefront condos are among the most desirable properties in the region. These offer direct lake access, boat slips, and panoramic water views. They're perfect for buyers who prioritize lake lifestyle and water sports.

Luxury Resort-Style Units

Some developments offer resort-style living with spas, pools, fitness centers, and concierge services. These high-end options cater to buyers looking for low-maintenance, full-service living.

Gated Community Condos

For those who value privacy and security, gated condo communities around Walloon Lake provide controlled access, neighborhood amenities, and a tight-knit environment.

Top Condo Developments Near Walloon Lake

Water Street Condominiums

Located close to downtown Petoskey, Water Street offers stylish condos with easy lake access and nearby shops and restaurants. These units are popular for both seasonal residents and year-round living.

Bay Harbor Properties

While technically a bit west of Walloon Lake, Bay Harbor remains a highly sought-after luxury development with easy access to both Walloon and Lake Michigan.

Harbor Springs Nearby Options

Just a short drive north, Harbor Springs has elegant condo options with marina access and golf course views—ideal for those who want proximity to both Walloon Lake and Little Traverse Bay.

Key Features and Amenities to Expect

Boat Slips, Private Beaches, and Lake Access

Most Walloon Lake condos come with shared or private boat slips, making it easy to enjoy the lake life. Many developments also offer private beaches and docks.

Modern Interiors and Open Layouts

Expect high ceilings, floor-to-ceiling windows, gourmet kitchens, and spa-inspired bathrooms. Developers focus on blending modern design with rustic elegance.

Maintenance-Free Living

HOA-managed properties handle landscaping, snow removal, and exterior upkeep—giving you more time to enjoy your lakeside paradise.

Walloon Lake Neighborhood Guide

Nearby Dining, Shopping, and Entertainment

Walloon Lake's charm extends beyond its shores. Just minutes away, you’ll find a delightful mix of local shops, farm-to-table restaurants, and unique boutiques. The village of Walloon Lake itself offers a quaint, walkable area with waterfront dining at places like Barrel Back Restaurant and Walloon Lake Inn.

A short drive will take you to Petoskey, where you'll discover larger shopping centers, art galleries, craft breweries, and historic architecture. In winter, nearby Boyne Mountain Resort offers skiing and snowboarding, while summer invites golf enthusiasts to scenic championship courses.

Proximity to Petoskey and Charlevoix

Living in a Walloon Lake condo also means easy access to two of Michigan’s most beloved lakeside towns. Petoskey is just 15 minutes north, known for its cultural events, marina, and Petoskey stones. To the southwest lies Charlevoix, another picturesque destination famous for its drawbridges, beaches, and summer festivals. These surrounding areas enhance both the lifestyle and investment appeal of Walloon Lake condos.

Pros and Cons of Buying a Condo vs. a House in Walloon Lake

Benefits of Condo Ownership

• Lower Maintenance: With HOA-managed services, you won't need to worry about exterior maintenance, lawn care, or snow removal.

• Affordability: Condos are generally less expensive than single-family lakefront homes, making them more accessible for second-home buyers.

• Security and Community: Many condos offer gated access and a sense of neighborhood, especially appealing for seasonal residents.

Considerations for Long-Term Value

• HOA Fees: While they cover many services, HOA fees can add to monthly expenses. It’s essential to understand what’s included.

• Limited Customization: Unlike single-family homes, structural changes and upgrades may be restricted by association guidelines.

Vacation Homes vs. Full-Time Living at Walloon Lake

Seasonal Rentals and Investment Potential

Many condo owners in Walloon Lake use their units as vacation rentals. Short-term rental platforms like Airbnb and Vrbo have made it easier than ever to generate income, especially during peak summer months when demand surges. Properties near the lake can command premium nightly rates thanks to their location and amenities.

Year-Round Living Considerations

For full-time residents, condos offer a serene, community-driven lifestyle. Heated garages, snow removal, and nearby winter attractions make them suitable for year-round living. However, buyers should ensure their development allows for full-time residency and offers adequate winter insulation.

Financing Options for Condo Purchases

Mortgage Types and Local Lenders

Purchasing a condo may require a different lending process than a traditional home. Some banks offer specialized condominium loans, which consider factors like the property’s financials, occupancy rates, and association rules. Local credit unions and lenders familiar with the area can offer flexible terms and a smoother closing experience.

Tips for First-Time Buyers

• Get Pre-Approved Early: This shows sellers you’re serious and gives you a competitive edge.

• Hire a Local Realtor: They’ll understand the nuances of the Walloon Lake condo market.

• Inspect HOA Documents: Review bylaws, financial statements, and meeting notes to avoid surprises.

HOA Fees and What They Cover

Typical Ranges for Walloon Lake Condos

Homeowners association (HOA) fees typically range from $200 to $700 per month, depending on the development, amenities, and services offered.

Included Maintenance and Services

Most HOA fees in Walloon Lake cover:

• Landscaping and lawn care

• Snow removal and road maintenance

• Exterior building maintenance

• Trash pickup and water/sewer

• Use of shared amenities like pools, gyms, and docks

Always verify what’s included and ask about upcoming assessments or renovations.

Real Estate Agents Specializing in Walloon Lake Condos

How to Choose the Right Agent

When searching for Walloon Lake, MI condos for sale, it's crucial to work with a real estate professional who understands the nuances of lakefront properties, HOA regulations, and local market trends. Your agent should be familiar with the neighborhood, have a strong track record in Northern Michigan, and provide personalized service tailored to your lifestyle and investment goals.

Top-Rated Local Expert: Brook Walsh

If you're looking for a trusted expert, Brook Walsh stands out as one of the top real estate agents specializing in Walloon Lake condos and luxury lakefront properties. With extensive experience in Northern Michigan real estate and a focus on delivering high-touch service, Brook offers deep insight into the most desirable condo developments, market trends, and investment opportunities in the area.

His website features exclusive listings, virtual tours, and detailed neighborhood guides, making it easy for buyers to explore Walloon Lake from anywhere. Whether you're a first-time buyer or a seasoned investor, Brook Walsh can help you find your perfect waterfront condo with confidence.

Learn more or browse current listings at Brook Walsh

Step-by-Step Guide to Buying a Condo in Walloon Lake

From Search to Closing

1. Define Your Budget and Needs

2. Get Pre-Approved for a Mortgage

3. Connect with a Local Realtor

4. Tour Available Condos

5. Make an Offer and Negotiate Terms

6. Conduct Inspections and Review HOA Docs

7. Secure Financing and Insurance

8. Close the Sale and Move In

Legal and Inspection Processes

Inspections should cover structural integrity, plumbing, electrical systems, and mold/moisture issues—especially important for lakefront units. Title searches and legal reviews ensure clear ownership and compliance with local laws.

Renting Out Your Condo: Short-Term and Long-Term Options

Local Regulations and Zoning Laws

Before listing your Walloon Lake condo as a rental, it’s important to understand the specific HOA and zoning regulations that may apply. Some developments have restrictions on short-term rentals, while others are fully rental-friendly. Be sure to confirm the rules before marketing your property.

Marketing and Managing for Maximum ROI

Turning your condo into a successful vacation rental requires more than just listing it online—it takes smart marketing, professional upkeep, and responsive guest services. That’s where Northern Michigan Escapes comes in.

Northern Michigan Escapes is a premier property management company that specializes in vacation rentals and luxury property services across Northern Michigan, including the Walloon Lake area. They handle everything from marketing and booking to cleaning, maintenance, and guest communication. Their expertise ensures your condo stays in top condition while delivering excellent returns and five-star guest experiences.

Whether you're looking for passive income or full-service vacation rental management, Northern Michigan Escapes is the trusted local partner to help you make the most of your Walloon Lake investment.

Discover their services at Northern Michigan Escapes

Future Developments and Real Estate Forecast for Walloon Lake

Planned Projects

Walloon Lake is seeing modest but thoughtful development, with a focus on maintaining its charm. Proposed condo projects include boutique-style waterfront units and expanded resort-style communities.

Market Predictions

Experts predict continued appreciation, particularly for lakefront units. With remote work trends and growing interest in northern Michigan, Walloon Lake remains a hot spot for smart real estate investments.

FAQs About Walloon Lake, MI Condos for Sale

1. Are condos in Walloon Lake good for investment?
A. Yes, especially lakefront properties. They appreciate well and offer high short-term rental income.

2. What are the best months to buy a condo in this area?
A. Late fall and early winter often present less competition and better prices.

3. Can I live in my Walloon Lake condo year-round?
A. Many developments support year-round living with winter-ready amenities and road access.

4. How do HOA fees work in Walloon Lake condos?
A. HOA fees cover maintenance, amenities, and shared services. Always review the HOA budget and policies before buying.

5. Are pets allowed in Walloon Lake condos?
A. Most condos have pet policies. Some are pet-friendly with restrictions, while others may not allow pets.

6. Is financing a condo different from financing a home?
A. Yes. Some lenders treat condos as riskier, requiring specific approvals and stricter lending guidelines.

Final Thoughts on Owning a Condo in Walloon Lake

Walloon Lake, MI condos for sale offer a unique blend of natural beauty, luxury, and investment potential. Whether you're seeking a peaceful retreat, a year-round residence, or a smart rental property, Walloon Lake delivers with its tranquil waters, active community, and strong real estate market. With the right guidance, your dream lakeside condo is well within reach.

Explore homes in the condominium lifestyle communities below or contact Brook Walsh to help with your search. You can also reach Brook by phone at (231) 459-3179 for all of your Northern Michigan real estate needs.