Wally Kidd Real Estate Blog

Walloon 2024 YTD Market Update

As 2024 comes to a close, Walloon Lake’s real estate market has once again proven its strength, with tight inventory and continued appreciation in property values.

Here's an overview of this year:

• High-End Activity: Three notable sales at $9.25M, $5.95M, and $4.7M highlighted the remarkable strength at the top of the market. I had the privilege of representing all three properties and two of the buyers.
• Rising Price Per Square Foot: Of the seven waterfront homes sold this year, five exceeded $1,000 per square foot, compared to just two in 2023—a clear indicator of Walloon's growing value.
• Entry-Level and Mid-Tier Trends: The entry-level market ($1.5M–$2M) remains quiet, with limited inventory but strong buyer demand, offering potential sellers a chance for near-instant liquidity. Mid-tier properties ($2M–$4M) continue to perform well, reflecting Walloon’s appeal across price points.

Walloon Lake remains one of the most sought-after waterfront markets in the midwest. While prices may see modest growth in early 2025, we may also begin to see some stabilization as buyers adjust to the “new normal” of Walloon pricing. That said, this lake is truly one-of-a-kind, and demand remains strong for those seeking to own a piece of it. If you’re curious about the current market, whether for valuation insights or off-market opportunities, I’m always here to help. Wishing Happy Holidays from beautiful Walloon Lake,