JUST SOLD | Buyer Agent -> Jonathan Oltersdorf | 750 Centre Place #2, Traverse City, MI – Beautifully remodeled lakeside condo in the Willow Cove condo complex next to the Traverse City Library! This 2 bedroom, 2 bath, 986 sq ft condo has been beautifully renovated from top to bottom and offers a convenient downtown Traverse City location with Boardman Lake views, a private balcony, and car port.
3911 N Hareld Drive, Lake Leelanau – SOLD
Custom built in 2019, this stunning ranch lake house sits high above North Lake Leelanau, offering sweeping 180-degree sunset water views and an expansive lakeside concrete patio designed for unforgettable outdoor gatherings with family and friends! Located on a professionally landscaped 1 acre lot in desirable Leland Township, the property includes a custom permanent stairway to the water, InstaDock system with patio extension, and a solar-powered boat hoist - ideal for enjoying the “Up North” lake lifestyle. The 2,283 sq ft main level offers living/ kitchen/dining areas with 24’ tall vaulted ceilings and a beautiful stone fireplace with a 150-year-old barn wood beam mantel, hardwood and tile flooring, Cambria quartz countertops, and GE Profile appliances, The spacious main floor master suite features a curb-less walk-in shower and walk-in closet, while the 2,283 sq ft unfinished lower level offers 9’6” ceilings, egress window, and insulated walls providing for easy future expansion. Additional highlights include an oversized extra deep, insulated, and finished garage, underground sprinklers, and extensive premium landscaping. A rare opportunity to own one of the most dramatic sunset viewpoints on North Lake Leelanau with township & road commission approved permits for permanent stairs connecting to the seasonal dock on the lake. Don’t wait……sunsets, water access, and endless Leelanau memories are calling!
7470 S Shugart Road Traverse City– SOLD
SOLD SOUTH LAKE LEELANAU RANCH HOUSE
LISTING SOLD by Oltersdorf Realty LLC on 10/2/2025
$1,399,000 - 7470 S Shugart Road, Traverse, MI – 3 Bedroom, 2.5 Bath Ranch Home on South Lake Leelanau with a Sandy Shoreline, Sunset Views, and an Extra Lot!
Step onto South Lake Leelanau’s most coveted stretch of shoreline, featuring a sandy beach and spectacular western facing sunsets over the lake! This 3 bedroom, 2.5 bath, 1,780 sq ft ranch, built in 1991, offers turn-key, one-level living with an open living room showcasing lake views and a cozy gas fireplace, plus a spacious waterside primary suite. Additional features include an attached 2+ car garage and a detached outbuilding ideal for storing all your water toys. This rare offering includes two separate parcels, including a vacant back lot with potential to build a 2nd home (buyer to verify details with zoning). Located on quiet, low-traffic Shugart Shores, just 15 minutes from Downtown Traverse City, this property sits in Bingham Township, where Short Term Rentals are allowed with a township permit. Soak up summer on the expansive waterside deck, entertain, relax, and create unforgettable lakeside memories. Don’t miss this exceptional opportunity on Lake Leelanau! Septic replacement options may include A) leasing a neighboring property for a traditional system or B) potentially an on-site ATS, subject to site work, testing, approvals, and not guaranteed (details for both on file).
Northern Express Article - What's Trending in Real Estate
Northern Express Article 9/27/2025
What’s Trending in Real Estate Up North?
Advice and predictions from local agents
Interview with Jonathan Oltersdorf
click HERE to view the full article
1. Looking into late 2025/early 2026 (the next 6 months or so), what trends, challenges, or opportunities do you see in the local real estate market?
After four years of historically low inventory that created one of the strongest seller’s markets in history, the era of year-over-year record price increases is likely behind us. Excluding condos, the 2025 median sale price of single-family homes is now $688,250 in Leelanau County and $432,766 in Grand Traverse County.
Affordability remains the biggest challenge in our regional housing market, particularly for younger buyers without equity from prior homeownership. Beyond sale prices, property taxes and mortgage rates continue to weigh heavily on purchasing power.
2. What do you expect in terms of demand?
Demand has softened slightly as rising purchase costs have created a greater barrier to entry, while inventory has inched up at the same time. Overall, we now have about 5–6 months of housing supply—the textbook definition of a balanced market. It’s neither a buyer’s market nor a seller’s market, but the sweet spot in between.
That said, the waterfront submarket is the exception. With virtually no new inventory and plenty of buyers waiting, it remains a strong seller’s market, and prices have continued to climb sharply in that segment.
3. Will prices ever fall? What about interest rates?
Prices are unlikely to fall drastically unless we see a wave of forced sales like the ones following the 2008 financial crisis. The difference is that since 2008, we haven’t built enough housing nationwide to create widespread distress selling—especially in our region.
Here’s a telling stat: year-to-date, 38% of sales in Grand Traverse County and 47% in Leelanau County have been 100% cash purchases. Add in the many buyers putting 20% or more down, and most homeowners are positioned to “wait it out” rather than sell at a loss.
As for interest rates, the reality is setting in: 6%–7% rates are here to stay—and buyers are adjusting. In our market, where cash plays such a big role, mortgage rates don’t have the same impact on affordability that they do elsewhere in the country.
4. What percent of homes are vacation homes, Airbnbs, or investment properties vs. primary residences? Has that changed recently?
In Leelanau County, vacation homes have always been a significant part of the market. About 50% of my clients are buying second homes today.
Many assume that Airbnb and VRBO have shifted the balance, but the reality is our region has always had a high proportion of seasonal homes and rentals. Back in 2010, only 45.3% of homes in Leelanau County were primary residences. By 2024, that figure was 46%—essentially unchanged in 14 years.
5. How can first-time homebuyers (and those without $1M in cash) get a foot in the door?
Buying in 2025 is challenging—but not impossible. Success comes down to patience, preparation, and persistence.
A recent example: I worked with a first-time buyer couple closing this week on a home in Long Lake Township for under $300,000. They even secured a $10,000 interest-free down payment loan from MSHDA.
Their journey wasn’t smooth—they missed out the first time the home came to market. But when the initial buyer backed out, they were ready. Their offer stood out because it was clean and organized: they were pre-approved, had proof of funds in hand, and showed the seller they were serious.
That’s what it takes today. The opportunities are out there, but buyers need to be positioned to act quickly when the right one appears.
👉 Thinking about buying or selling in Northern Michigan? Let’s talk strategy. Every market has challenges, but there are always opportunities for those prepared to seize them.
710 N Dockside Circle, Unit F-2, Suttons Bay – SOLD
SOLD SUTTONS BAY WATERFRONT CONDO
LISTING SOLD by Oltersdorf Realty LLC on 9/19/2025
$1,000,000 Ask Price - 710 N Dockside Circle, Unit F-2, Suttons Bay, MI – Direct Waterfront Condominium in the Village of Suttons Bay!
This beautiful direct waterfront turn-key condominium offers panoramic water views, shared lake frontage, a private marina, and is within walking distance or a short bike ride to Downtown Suttons Bay! With over 2,160 sq. ft. of living space, the open floor plan showcases expansive Bay views throughout, the living and dining rooms are centered around a two-sided gas fireplace and a waterside balcony which overlooks the marina, while the island kitchen features granite countertops, quality cabinetry, and wood flooring. The large primary suite includes a private bath with both a shower and tub, water views, and a spacious walk-in closet. The versatile lower-level cabana is accessed by a private interior staircase and features a family room/fourth bedroom and ¾ bath that walks out to the marina and your own waterside patio. This second-floor unit with a private staircase to the main floor cabana offers the best layout in the complex which includes a coveted side-by-side private two-car garage. The exterior features stone and cement board siding, energy-efficient construction, and access to first-class amenities including an indoor swimming pool, tennis/pickleball court, outdoor hot tub, elevators, and the option to lease a boat slip just steps from your door. Located within the charming Village of Suttons Bay and just a short walk to restaurants, library, theatre, shopping, and adjacent to the Leelanau Bike Trail! Sold fully furnished except for a small list of excluded personal items. This is truly a boater’s paradise! Boat slip use is optional and may be purchased or leased. Slip info: https://www.bayviewmarinasb.com
7018 Cedar Run Road, Traverse City - SOLD
1955 N Blue Water Court, Suttons Bay - NEW LISTING
Affordable 1.16-acre building site in a well-planned centrally located Leelanau County development! Situated just minutes from Suttons Bay and Lake Michigan access, this quiet neighborhood on a private dead end road includes 31 acres of common space and peaceful countryside views. Added value comes with lower township tax rates, underground electric, cable and high-speed internet, plus a shared propane and drainfield system already installed - saving you time and money. Reasonable restrictions on this lot (lot #2) allow for outbuildings and only require a 1,600 finished sq ft home above grade, giving you flexibility without unnecessary costs. Perfect topography for a walkout home!
Lot 134 – N Cherrywood Ct, Northport – SOLD.
Nice location tucked away on a quiet cul-de-sac within Cherry Home Shores! This beautiful, 0.26 acre affordable wooded building site offers level terrain, perc test/site survey showing suitable conditions for a septic system and is situated just ~1400 feet from sandy beach access on Grand Traverse Bay! Cherry Homes association amenities include hiking trails, 4 waterfront parks with shared access to Grand Traverse Bay, clubhouse with tennis/basketball courts, playground, and dues of only $65/year! No short-term rentals are allowed. All association info can be found at: https://cherryhomeshores.com/
Leelanau County Housing Market Update: Inventory is Back—But Is It Enough?
🏡 Leelanau County Housing Market Update: Inventory is Back—But Is It Enough?
If you’ve been following the Leelanau County real estate market, you’ve likely felt the squeeze of low housing inventory over the past few years. But as of August 2025, we’re seeing a slight shift.
📊 Key Stats (Jan 2025 – July 2025):
176 Active Listings currently on the market
174 Homes Sold so far this year through July 2025.
That’s nearly a 1:1 ratio of homes listed to homes sold—a strong indicator of a more balanced market emerging in 2025. After years of tight supply, sellers and buyers are finally meeting in the middle although prices are still significantly up and number of transactions are down.
🕰️ Historical Context: How We Got Here
Looking at inventory data from January 2019 to August 2025, you can clearly see the trend:
2019–2020: Strong inventory, peaking above 400 listings
2021–2023: Dramatic inventory drop, often under 150 homes
2024–2025: Gradual rebound, with seasonal peaks near 200 active listings
While we’re nowhere near pre-pandemic levels, inventory has more than doubled from the lowest points in 2021–2022.
💡 What This Means for Buyers
More listings = more choices. But don’t wait too long—homes are still selling quickly. With 174 sales already this year, demand hasn’t cooled off.
👉 If you’ve been waiting for a better selection or less competition, now’s your chance to make a move in Leelanau County.
💡 What This Means for Sellers
Yes, competition is up—but so is buyer activity. If your home is priced right and properly marketed, it will sell. With nearly every new listing matched by a sale, it’s still a seller-favorable market, just not as cutthroat.
📍 Zooming In: What’s Driving the Market?
Continued migration from urban to scenic areas like Leelanau County
Summer vacation home demand is fueling second-home purchases
Interest rates are stabilizing, increasing buyer confidence
Inventory buildup is partly seasonal but shows signs of sustained growth
Jonathan Oltersdorf
Associate Broker
Oltersdorf Realty, LLC
311 N St Josephs St, PO Box 578
Suttons Bay, MI 49682
Email: Jonathan@Oltersdorf.com
Website: www.Oltersdorf.com
Office: 231-271-7777
Cell: 231-218-0509
Vacation Home Hotspots: Michigan #4! (2025)
🏡 Did You Know?
There are over 4.8 million vacation homes in the United States—that’s roughly 3.5% of the entire housing market! Whether it’s a beachfront escape, a cozy cabin in the woods, or a lakeside retreat, Americans love their second homes.
According to recent data, here are the top four states where vacation homes are most popular:
1️⃣ Florida – 800,000 vacation homes
2️⃣ California – 360,000 vacation homes
3️⃣ New York – 309,000 vacation homes
4️⃣ Michigan – 260,000 vacation homes
Not surprisingly, warm weather and natural beauty are big draws—but don’t sleep on the Midwest. Michigan, with its stunning Great Lakes shoreline and countless inland lakes, is a hidden gem for vacation property buyers.
Why Do People Invest in Vacation Homes?
Lifestyle: A second home offers a place to relax, recharge, and escape the daily grind.
Rental Income: Many owners rent out their vacation homes when not in use, offsetting expenses or generating income.
Long-Term Investment: Real estate in desirable vacation destinations tends to appreciate over time.
Is a Vacation Home Right for You?
Whether you're dreaming of a cottage in Leelanau County, a beachfront condo, or a mountain lodge, owning a second home can be a lifestyle upgrade and a smart investment.
➡️ Thinking about buying a vacation home in Michigan? Let’s talk. I know the local market and can help you find the right fit.
-Jonathan Oltersdorf, Oltersdorf Realty LLC
2025 Home Sales Data: Mid Year Review
Year-To-Date Market Snapshot --> How is the #Leelanau real estate market in 2025? Leelanau typically sees fewer home sales than Grand Traverse County, so pricey early-season luxury closings can skew the numbers. That said, 2025 is showing a notable spike in both average and median sale prices. I expect things to level out somewhat as more lower-priced homes sell later in the year—but with so little inventory under $600,000, that correction may be limited.
Year-To-Date Market Snapshot --> How’s the #GrandTraverseCounty Real Estate Market in 2025? The market's taken a breather. While the average sale price dipped a bit, the median price still shows modest gains—suggesting stable demand, but less of the runaway price growth we saw in recent years.... .
1124 Hill Street, Traverse City - SOLD
SOLD DOWNTOWN TRAVERSE CITY HOME
SOLD by Oltersdorf Realty LLC on 6/27/2025
$625,000 - 1124 Hill Street, Traverse City, MI - 3 Bedroom, 2 Bath, 1,944 sq ft home located in Slabtown close to everything!
10895 N Shore Drive, Northport – SOLD
SOLD VILLAGE OF NORTHPORT RANCH HOME
LISTING SOLD by Oltersdorf Realty LLC on 7/7/2025
$410,000 - 10895 N Shore Dr, Northport, MI – 2 Bedroom Ranch on 1 Acre in the Village of Northport!
Tucked away in a quiet location at the northern edge of the Village of Northport, this peaceful ranch offers a rare price point for one of Leelanau County’s most desirable communities. Just a quick 1-mile bike/walk from Northport’s vibrant waterfront park, beaches, marina, shops, restaurants, library, schools, and more—you’re close to it all, yet tucked away on a ~0.80 acre parcel of land. This cozy 2-bedroom, 1-bath ranch offers approximately 1,262 square feet of living space, a large 2 car detached garage, rear screened-in porch, municipal sewer (with a small assessment still in place), and a private well. Whether you're looking for a year-round home, a vacation getaway, or an investment with upside, this one checks all the boxes. The home offers plenty of potential for updates and improvements, offering the perfect canvas for your vision. Northport is a welcoming, artsy village nestled on the shores of Grand Traverse Bay, at the northern edge of picturesque Leelanau County. It's a gateway for boating, beaches, hiking, and all things lakeside living. Don’t miss your chance to own a piece of Up North charm. Note: Square footage and acreage are approximate.
7528 E Meadows Drive, Cedar - SOLD
SOLD ELMWOOD TOWNSHIP RANCH HOME
SOLD by Oltersdorf Realty LLC on 6/26/2025
$565,000 – 7528 E Meadows Drive, Cedar, MI - Brand new 2025 construction 4-bedroom, 3-bath ranch home!
JUST SOLD by Jonathan Oltersdorf | $565,000 – 7528 E Meadows Drive, Cedar, MI - This brand new 2025 construction 4-bedroom, 3-bath ranch home offers 2,499 finished square feet (1,614 above grade, 885 lower level) with a spacious 2-car garage. The open-concept design connects the living, dining, and kitchen areas, all filled with natural light from large windows and enhanced by luxury vinyl plank flooring and elegant finishes. The kitchen is a showstopper with modern appliances, abundant counter space, and a large island perfect for gatherings. Located close to Downtown Traverse City in Elmwood Township!
Lot 16 - S Walden Court, Suttons Bay - SOLD
SOLD SUTTONS BAY VACANT PARCEL
SOLD by Oltersdorf Realty LLC on 6/18/2025
$60,000 – Lot 16, S Walden Court, Suttons Bay, MI - Hard to find vacant lot on Stony Point Peninsula within the popular “The Points” subdivision.
3182 S Candace Lane, Lake Leelanau – SOLD
SOLD LAKE LEELANAU RANCH HOME
LISTING SOLD by Oltersdorf Realty LLC on 6/9/2025
$750,000 - 3182 S Candace Lane, Lake Leelanau, MI –3,300 sq ft Walkout Ranch + 24’x24’ Detached Garage!
Gorgeous Kitchen Remodel & Exceptional Garage Space in a Secluded Setting! Discover this desirable walkout ranch, offering the one-level living layout you’ve been searching for! With 3 bedrooms, 3 baths, and 3,300 finished sq ft, the heart of the home is the gorgeous, high-end kitchen, fully remodeled in 2022 with stunning quartz countertops, a stylish tile backsplash, and custom cabinetry—a true entertainer’s dream! The open-concept great room features vaulted ceilings, hardwood floors, and a cozy gas fireplace, making it the perfect space to relax or host gatherings. The spacious main floor primary suite offers a walk-in closet and a glass-tiled shower, while the main floor laundry adds everyday convenience. Step outside to enjoy the huge wraparound deck, ideal for soaking in the abundant wildlife and gardens on this 2.18-acre wooded property, tucked away at the end of a quiet cul-de-sac. Downstairs, the walkout lower-level features even more space with a family room, gas fireplace, bathroom, and wet bar - great for entertaining! But the real bonus? Garage and storage galore! Along with unfinished basement storage space and the attached 2-car garage, there’s an additional 24’ x 24’ detached garage - perfect for all your toys, tools, or workshop needs. With natural gas, cable internet, a Generac generator, and an unbeatable location - just 5 miles from Suttons Bay and 13 miles from Traverse City - this home is a rare find. Don’t miss out on this private hideaway with top-tier Leelanau amenities nearby!
Lot 69 – E Cherry Park Drive, Northport – SOLD
SOLD NORTHPORT VACANT LOT
SOLD by Oltersdorf Realty LLC on 5/29/2025
$40,000 – Lot 69 – E Cherry Park Drive, Northport, Northport, MI – Vacant Parcel within 1300’ of Sandy Grand Traverse Bay Access!
Nice location tucked away on a quiet street within Cherry Home Shores! This beautiful, 0.36 acre affordable wooded building site offers easy level terrain, perc test/site survey showing suitable conditions for a septic system and is situated just ~1300 feet from sandy beach access on Grand Traverse Bay! Cherry Homes association amenities include hiking trails, 4 waterfront parks with shared access to Grand Traverse Bay, clubhouse with tennis/basketball courts, playground, and dues of only $65/year! No short-term rentals are allowed. All association info can be found at: https://cherryhomeshores.com/
4337 Apple Tree Lane, Traverse City - SOLD
SOLD TRAVERSE CITY LONE TREE HOME
SOLD by Oltersdorf Realty LLC on 5/27/2025
JUST SOLD by Jonathan Oltersdorf | $750,000 - 4337 Apple Tree Lane, Traverse City, MI - 5 Bedroom, 3 bath, 3,184 sq ft walkout ranch home in Lone Tree just 5 minutes from Downtown Traverse City!
1564 N West Bay Shore Drive, Suttons Bay – SOLD
Discover your own private paradise with this rarely available property. Situated on one of the largest frontages on beautiful Suttons Bay, this exquisite lakefront ranch home offers 275 feet of private shoreline. The preferred east-facing lot ensures stunning sunrises - relax on the waterside covered porch, where you can unwind to the soothing sounds of waves gently lapping the waterfront. Built in 2013, this modern home is surrounded by granite stone walls and beautiful blue spruce trees, providing total privacy. The property includes a matching potting shed with full electric, two workbenches, and ample storage space for tools and toys. Inside, the home features 3 bedrooms and 2.5 baths, including a waterside master suite with a walk-in shower, tub, and an additional outdoor shower equipped with hot and cold water. The great room, dining room, kitchen, and master suite all offer breathtaking views of Suttons Bay and Stony Point. The chef's kitchen is equipped with dual sinks, granite countertops, custom cabinets, a built-in stovetop, oven, refrigerator, microwave, and dishwasher. The open floor plan seamlessly connects the great room, dining room, and kitchen, making it perfect for entertaining. A quarry stone-faced gas fireplace adds a touch of warmth and elegance. Sliders from the great room, dining room, and master bedroom lead to an expansive deck, partially covered with four skylights to allow natural light while providing shelter in inclement weather. Flagstone steps guide you to the water’s edge, where you'll find a 120-foot dock with a patio, perfect for waterside entertaining and taking in the views. The dock is equipped with electric and water services to meet your boating needs. This all-weather, low-maintenance home requires minimal annual upkeep, allowing you more time to enjoy its beauty. Located just 2 miles north of Suttons Bay, you'll have easy access to the town's many amenities, including restaurants, shopping, theater, library, and beaches! The nearby bike path connects Suttons Bay to Traverse City, which is only a 20-minute drive away, recently voted one of the best beach towns in America. Sleeping Bear Dunes National Lakeshore is also just a 30-minute drive away!
427 Monroe Street, Traverse City - SOLD
SOLD DOWNTOWN TRAVERSE CITY HOME
SOLD by Oltersdorf Realty LLC on 5/22/2025
427 Monroe Street, Traverse City, MI
$576,000
Tons of potential for this home located in the Slabtown neighborhood in Downtown Traverse City. 4 Bedroom, 2 bath home on a prime 50' x 165' city lot