Lake Orion is a 470 acre all sports lake that is in both the Village of Lake Orion and the Township of Orion Michigan. Lake Orion is a public lake with a public access off Indianwood Rd, just west of M-24.
The housing on Lake Orion is a mixture of cottages, cottages that have been re-built into larger, year ’round houses, and newer homes. Like the rest of Lake Orion, the housing market on Lake Orion has been hit with its share of foreclosures and short sales and a general drop in housing prices overall.
In 2003 the lowest priced sale on Lake Orion was $225,000 (per the MLS). In 2009 prices ranged from $80,000 – $848,318. And so far in 2010 sale prices have ranged from $100,000 – $370,000.
In 2009 there were 18 lakefronts sold on Lake Orion- 8 bank owned. So far in 2010 there have been 18 lakefronts sold (and closed per Realcomp II MLS) and 8 were bank owned. No short sale closings were reported for either year.
So far this year there have been no sales under $100,000; in 2009 there were 3 sales under $100,000.
On Nov. 2, 2010 there were 13 sales pending on Lake Orion with asking prices ranging from $71,900 – $499,000- 8 of them short sale listings and 3 bank owned listings.
There were also 19 active listings with asking prices ranging from $127,900 – $598,000- no bank owned listings and only 2 short sale listings.
Lake Orion has a pretty interesting history with its start beginning in 1829, when a sawmill was built across the beginning of Paint Creek, which eventually transformed six small lakes into what we know today as Lake Orion.
In 1872 the railroad came to Lake Orion, making it easier for people to enjoy the beauty of Lake Orion. In 1874 a group of investors purchased what is now present day Park Island, and during the 1870’s a dance hall was constructed on Park Island as well as a 100 foot long reception hall that was topped with an eighty foot high observation tower. At that time there were 4 daily train trips through Lake Orion bringing thousands of people.
The 1880’s saw a second rail system moving north from Pontiac to Port Austin through Lake Orion.
The 1890’s saw the purchase of Spencer’s Island (present day Bellevue Island), the construction of the Bellevue Hotel, and an auditorium that seated 2250 people.
The first Marine Postal Center was established in 1905, delivering mail to over three hundred cottages on the lake and islands. In 1911 Park Island changed ownership and was revamped as a light amusement center with a dance hall and some rides including a roller coaster.
Lake Orion’s days as a resort town came to an end with the onset of the Great Depression. The automobile allowed people to travel further north and Lake Orion’s summer population dropped steadily.
The 40’s saw the real beginning of the area building more permanent residences. When the U.S. entered World War II many factories in Pontiac became munitions plant employing many Orion residents. St. Joseph Catholic Church was completed in 1940. Bald Mountain State Recreation Area began operation in 1947. Anderson Chevrolet-Buick-Pontiac dealership opened in 1948.
In the late 1980’s or 1990 there was a Bassmaster Tournament on Lake Orion. 2010 saw the first annual Dragon Boat Race. It’s rumored that the Purple Gang had a cottage back during their heyday during prohibition.
Thinking about moving to the lake? Or buying a lakefront cottage? Please don’t hesitate to contact me for your lakefront purchase.