Historic Petoskey-area cottage enclave sees prices rise amid limited supply

Bay View Association, a private 340-acre community on Lake Michigan’s Little Traverse Bay near Petoskey, allows cottage use for only six full months each year and requires buyers to become members before purchasing property.

The community has about 440 cottages, most of them Victorian homes built between 1875 and 1900. The median sale price reached $346,940 in 2025, up roughly 76% from $197,500 in 2021, according to local real-estate agent Mary McCarthy.

Bay View was founded in the 1870s by Methodist ministers and later adopted Chautauqua educational and cultural programming. It is now a National Historic Landmark, with strict oversight of building and renovation work.

Cottage buyers must submit reference letters from nonfamily members, including at least two from current residents and at least one from outside the community, then interview with a membership committee. The process can take up to nine weeks, according to Executive Director Megan DeWindt.

Read the full story at realtor.com.