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Check out this video for a look at Walloon Lake real estate, or read on to learn more about life on Walloon Lake.
Walloon Lake Real Estate
Walloon Lake is a glacier-formed lake located in Charlevoix and Emmet counties, just southwestward from the northern tip of the Lower Peninsula of Michigan. It is now home to many vacation homes and cottages. Though the end of the west arm of the lake is less than 1 mile (1.6 km) from Lake Michigan, Walloon Lake's surface elevation is over 100 feet (30 m) higher.
There is something about owning a home on Walloon Lake that is soothing to the soul and many of them have all the warmth and charm to capture your heart.
Walloon Lake is a world-renowned waterfront community and home prices start around $150,000 and can go for as much as $4,000,000+. Homes with direct access to Walloon Lake (read "waterfront") start around $750,000 for an older cottage and can quickly rise to well over an average price of $1,500,000.
According to the butcher J. R. Haas, Walloon Lake is thought to be originally named after a Belgian settlement. While no real evidence of the settlement has ever been found, the lake, which was then called Bear Lake, derived its name from the Belgian immigrants called Walloons. Since then the lake and village around started growing into a quaint little recreational spot. The clear waters of the lake, cozy cottages, and the local forestry nudged rapid growth.
While the exodus of trains in the 1900s slowed business, in the past few decades Walloon Lake has flourished once again. People lured in by the lake's natural beauty and the possibilities of many recreational activities, Walloon Lake has become a people's favorite in Michigan. They can come around spend time on the lake or roam in the streets of the village to get away from the busy city life.
This is why many people have chosen to build properties near the lake so they have access to uninterrupted fun. Walloon Lake real estate includes various luxurious houses, condos, and lots near the lake. Investing in Walloon Lake real estate provides the opportunity to have access to make unforgettable memories surrounded by nature’s magnificent beauty.
Fishermen love the Walloon Lake area, as did Ernest Hemingway, who spent his summers at the family cottage nestled along the lake's shore.
Real-estate value has increased rapidly since the 1970s, and many large houses have been built around the lake. There are two camps on the lake: Camp Daggett and Camp Michigania, the University of Michigan's Alumni Association camp. Starting around 2010, the area on the foot of the lake began redevelopment. New condominiums were constructed. In the next few years, a restaurant was built, and a retail store was created on the site of the old SI's marine. In 2014 developers broke ground on a new hotel to sit in between the marina and condominiums.
Settled against the breathtaking backdrop of Walloon Lake, Hotel Walloon an independently owned and operated boutique hotel features 32 unique, elegant and comfortable guest rooms. Centrally located between Petoskey, Boyne City, Charlevoix, Traverse City, and Mackinaw, Hotel Walloon is the perfect "home away from home" to enjoy all the adventure Northern Michigan has to offer.
According to the Northern Michigan Multi-Listing Service, the average sales price for a Walloon Lake home is $1,129,549, with a low of $65,000 in 2007 and a high of $4,000,000 in 2018. The average sales price for a Walloon Lake condominium is $534,532, with a low of $175,000 in 2011 and a high of $3,475,000 in 2015. Walloon Lake homes can be found in Petoskey, Michigan, and Boyne City, Michigan as it's a very large lake.
Walloon Lake Community Highlights
For over 120 years, Walloon has been a place where many of the icons of American business and their families have summered. It is the place where Ernest Hemingway spent his summers as a youth. The lake’s rolling hills and clear, beautiful waters have always been the center of its attraction.
Fishermen love the Walloon Lake area, as did Ernest Hemingway, who spent his summers at the family cottage nestled along the lake's shore. Walloon Lake is a very desirable summer resort area. Travelers and locals boat, swim and play in the 100-foot waters. which are as clear and blue now as 100 years ago.
Walloon is the 22nd largest lake in Michigan with a surface area of 6.9 square miles and is one of the state’s deepest lakes with mean and maximum depths of 28.9 feet and 100 feet respectively. The shoreline length is 30 miles and is 9.2 miles at its longest point from the tip of the West Arm (Mill Pond) to the Foot (Walloon Lake Village). Walloon Lake is fed primarily by groundwater, with only a few inlet creeks. It has existed in pre-glacial times like a river valley which was re-shaped and deepened by glacial activity.
Camp Daggett has provided meaningful and memorable recreational experiences for the young and young at heart for over 90 years. Embracing its values of respect, teamwork, caring, and fun, Camp Daggett offers year-round programs from summer camp for youth to Adventure Programs for young people and adults. The Camp Daggett facilities are available to the public for events and activities as well.
Michigan isn’t just a place to visit, it’s a place in the hearts of many. It’s where children have learned to shoot an arrow, sing songs, and listen to stories beside the fire. It’s where kids scraped a knee but kept on having fun, and perhaps where someone had their first crush. Camp Michigania is much more than just a place to visit, it’s a tradition people keep alive, and it doesn’t have to end with the summer.
In a few places on the lake, a naturally occurring sandbar has formed near shore, providing shallow water and an opportunity to wade or swim. The state forest land near camp Michigania offers a wonderful opportunity to anchor and enjoy an afternoon of swimming and relaxation.
Walloon Lake Annual Events
Walloon Winterfest - Snowmobilers welcome, bean pot, disc golf, skating Walloon Lake, Rock Out with Your Dock Out - Summer kickoff, Walloon Watersports Festival, Antique Flywheelers Show, National Street Rod Association, Appreciation Car Show & Classic Instruments Open House - 9 am-4 pm, Wakesetters, and Wine, Walloon Woodies
Schools Near Homes in Boyne City, Michigan
Walloon Lake is very large and actually encompasses three towns, Petoskey, Boyne City, and Walloon Lake. As a result, we are showing information for both Petoskey and Boyne City school systems (Walloon Lake does not have a school)
- Boyne City Elementary School
- Boyne City Middle School
- Boyne City High School
There is also a tuition-free charter school, Concord Academy, that is committed to fine arts as a necessary part of a child's education.
Schools Near Homes in Petoskey, Michigan
- Central Elementary School
- Lincoln Elementary School
- Ottawa Elementary School
- Sheridan Elementary School
- Petoskey Middle School
- Petoskey High School
Focused on Northern Michigan Investment Real Estate
Brook is focused on lifestyle real estate investment properties as most people want a vacation home to make lifelong memories that endure for their entire family, leave a profound legacy for generations, and they want a solid financial investment at the same time. While the area does have many good realtors, there aren’t many with the unique financial, vacation home investing, and technology marketing background. Brook uses his diverse skill set to help clients properly evaluate and determine whether a vacation home makes financial sense.
Continue Your Northern Michigan Real Estate Search
Explore homes and real estate in the Northern Michigan communities below or contact Brook Walsh to help you with your search.
Browse Other Communities
- Beaver Island
- Boyne City
- Boyne Falls
- Boyne Highlands
- Boyne Mountain
- Burt Lake
- Carp Lake
- Central Lake
- Crooked Lake
- Deer Lake
- East Jordan
- Elk Rapids
- Fife Lake
- Glen Arbor
- Harbor Springs
- Higgins Lake
- Houghton Lake
- Indian River
- Lake Ann
- Lake Charlevoix
- Lake City
- Lake Leelanau
- Mackinaw City
- Mackinac Island
- Mullet Lake
- Pickerel Lake
- Rogers City
- Round Lake
- Suttons Bay
- Tawas City
- Torch Lake
- Traverse City
- Walloon Lake
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