Foreclosure Homes in Walloon Lake, MI

Current Market Conditions in Walloon Lake, MI

The real estate market in Walloon Lake has shown a steady increase in property values over the past year, with a growing interest from buyers seeking both vacation homes and year-round residences. The market is competitive, largely due to the area’s appeal as a destination for outdoor activities and its proximity to Petoskey and Charlevoix.

As of the last quarter, the demand for waterfront properties has particularly surged, with limited inventory driving up prices. The number of homes sold continues to rise, reflecting the desirability of Walloon Lake as a scenic retreat.

Rent Prices In Walloon Lake, MI

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Walloon Lake, MI, is on a rollercoaster ride. The average rent price in Walloon Lake, MI, is $1,630.00. Indeed, when looking to rent in Walloon Lake, MI, you can expect to pay as little as $1,210.00 or as much as $2,380.00, with the average rent median estimated to be $1,560.00. The good news is that finding an affordable and desirable property to rent in Walloon Lake, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.