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Oconomowoc Lake

Oconomowoc Lake

Located in Waukesha County

$1,765,910 Average Value
$589 Average Price per Sq Ft
3 Homes For Sale

Oconomowoc Lake's luxurious homes along the water

From its nascent days in the 19th century, Oconomowoc Lake has served as a high-end hideaway in the Lake Country region. Famous Milwaukee families — including beer scions like the Pabsts — once owned homes on the water, and their names adorn streets in the community. Oconomowoc Lake retains its reputation today, with upscale estates and gorgeous lake views. “Many families on that lake have been there for generations,” says Jennifer Stoehr, a Realtor with the JJ Hausmann Team of Compass who has worked in the Lake Country for more than a decade. “Oconomowoc Lake is definitely a luxury lake. We have larger properties there. Most of the lake has absolutely beautiful frontage. Their water quality is wonderful.” Residents enjoy the community’s peaceful character and proximity to cute Main Streets in nearby Lake Country towns like Oconomowoc.

High-end Lake Country estates along the water

Long private driveways branch off the roads surrounding Oconomowoc Lake, with large estates hidden among the woods. Almost every home has a water view, whether directly fronting the lake, across Beach Road from the water or along a canal connecting to the lake. Craftsman lodges and farmhouses are generally more modest, while ornate coastal-inspired or contemporary properties make up the top of the market. Homes rarely sell in the community, with just two transactions in the past year. The median sales price is roughly $4.4 million, which rose 31% year-over-year. “We get a lot of people looking for that particular lake,” Stoehr says. “Unfortunately, not a lot of people can afford it now.” While many residents live in the community year-round, snowbirds are common, and some families utilize properties as vacation homes.

Boating, fishing and swimming in Oconomowoc Lake

Recreation in Oconomowoc Lake centers on the community’s namesake body of water. The private Oconomowoc Lake Club was founded in 1890 on the lakeshore and offers tennis lessons and tournaments, plus sailing events. Boating is popular among residents, and homes along the water feature private docks. The community’s public boat slip is located on the smaller Upper Oconomowoc Lake, which connects to Okauchee Lake. While the lakes have plenty of summer activities, residents can enjoy cold weather as well. “There are a lot of winter activities, too,” Stoehr says. “It freezes so nice and smooth most winters, so there are ice skating rinks and hockey tournaments on the lake.” The private Oconomowoc Golf Club is just north of the community, with a Donald Ross-designed course, a practice facility and a simulator in the clubhouse.

Highly rated Oconomowoc Area schools

The Oconomowoc Area School District serves Oconomowoc Lake and receives an A-minus grade from Niche. Students are split between three elementary schools, each teaching kindergarten through fourth grade, and two intermediate schools for fifth through eighth. Most of the community is zoned to A-rated Meadow View Elementary and A-minus-graded Nature Hill Intermediate. The entire district is zoned to A-minus-graded Oconomowoc High, which provides both Advanced Placement courses and the International Baccalaureate program for students.

Nearby dining options by car or by boat

The village of Oconomowoc Lake is mainly residential, but shopping and restaurants are easy to find. The closest restaurant is the Lake Country landmark Kiltie Drive-In, a throwback fast food and custard joint only open over the summer. Nearby lakefront restaurants like Weissgerber’s Golden Mast Inn or Foolery’s on Okauchee Lake are popular year-round and have boat docks for patrons to cruise in for a meal. On dry land, Summit Avenue is the nearest commercial corridor. Several shopping centers line the highway, with hardware stores, pharmacies and fast food restaurants like Culvers. Sendik’s Food Market sells groceries 2 miles away. The neighboring community of Oconomowoc, also 2 miles away, has a quaint strip of shops and restaurants on Wisconsin Avenue, its main street.

History talks and fireworks on the lake

Despite the village government’s small size, Oconomowoc Lake organizes occasional events for residents. Many of these are about the area’s history, including talks from local historians at the Oconomowoc Lake Club and a self-guided boat tour of storied homes on the lake. But the most significant is the village’s yearly fireworks show for the Fourth of July. Residents take a boat onto the water to watch, or make a reservation to enjoy them alongside dinner at the club.

Driving to nearby Lake Country cities or Milwaukee

Wisconsin Highway 16 is the main route through Lake Country, skirting to the north of Oconomowoc Lake. The route turns into Wisconsin Avenue to the west, leading to the downtown of the nearby city of Oconomowoc, just 2 miles away. Meanwhile, Interstate 94 is a mile from the community, leading 30 miles to Milwaukee. The closest commercial flights depart from Milwaukee Mitchell International Airport. ProHealth Oconomowoc Memorial Hospital is 2 miles away and has the nearest emergency room.

Brendan Doyle
Written By
Brendan Doyle

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Schools

Source:
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Oconomowoc Lake Housing Trends

Housing Trends

Median List Price
$2,315,000
Median Sale Price
$1,635,000
Median Single Family Sale Price
$2,315,000
Median Change From 1st List Price
0%
Last 12 months Home Sales
1
Median Home Sale Price YoY Change
-36%
Average Price Per Sq Ft
$589

Neighborhood Facts

Number of Homes for Sale
3
Months of Supply
36.00

Homes for Sale

Distribution of Home Values

Source: Public Records

Average Home Value





Source: Public Records

Property Mix - Square Feet

Oconomowoc Lake Has More Owners

Demographics

Total Population
668
Median Age
50
Population under 18
18.3%
Below the national average
23.8%
Population over 65
25.1%
Above the national average
19.1%

Finances

Median Household Income
$123,076
Significantly above the national average
$71,702
Average Household Income
$149,896

Education and Workforce

High School Graduates
96.2%
College Graduates
51%
Above the national average
34.1%
Advanced Degrees
21.2%
Above the national average
13.3%
% Population in Labor Force
67.2%

Weather

Annual Precipitation
35''
Average Winter Low Temperature
11°F
Average Summer High Temperature
82°F
Annual Snowfall
46''

Area Factors

Somewhat Bikeable

Bike Score®®

27 / 100

Car-Dependent

Walk Score®®

0 / 100
Source: Walk Score
Source: Walk Score

Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address. CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Oconomowoc Lake