Walloon Lake

A bed of crystal-clear azure waters surrounded by nature’s lush green bounty and an atmosphere of tranquility all beckons vacationers from around the country to come and relax by the luscious Walloon Lake. While still a quaint lake with a quaint village near the sandy beaches, the lake has flourished into a thriving vacation spot. Growing and successful, the Walloon Lake real estate offers splendid properties to buy, sell or rent.

This page gives a very detailed overview of the homes, condominiums, land, and even commercial property for sale in Walloon Lake, Michigan.

Real Estate Statistics

Average Price	$6.4M
Lowest Price	$585K
Highest Price	$18M
Total Listings	6
Avg. Price/SQFT	$1.5K

Property Types (active listings)

Browse Walloon Lake Real Estate Listings

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

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$18,000,000

4265 Balsam Lane, Boyne City

14 Beds 8 Baths 5,700 SqFt RESIDENTIAL MLS® # 468534

$6,995,000

↓ $305,000

6273 Indian Garden, Petoskey

6 Beds 7 Baths 6,267 SqFt RESIDENTIAL MLS® # 474622

$5,995,000

6625 Indian Garden, Petoskey

7 Beds 6 Baths 5,300 SqFt RESIDENTIAL MLS® # 474515

$3,675,500

4017 N M-75 Highway, Walloon Lake

5 Beds 4 Baths 3,450 SqFt RESIDENTIAL MLS® # 475065

$3,250,000

998 North Shore, Walloon Lake

4 Beds 3 Baths 3,961 SqFt RESIDENTIAL MLS® # 474711

$585,000

↓ $14,900

2145 Eagle Island Road, Boyne City

0 Beds 0 Baths 0 SqFt Land MLS® # 470862

Check out this video for a look at Walloon Lake real estate, or read on to learn more about life on Walloon Lake. 

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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.  

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 $1,386,106, with a low of $65,000 in 2007 and a high of $8,200,000 in 2020. The average sales price for a Walloon Lake condominium is $685,438, 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