Belanger Creek – Lot 7. This private, quiet parcel offers a tranquil creekside building site with Belanger Creek flowing along the rear of the lot. Situated just 3 miles from the Village of Suttons Bay, it’s tucked at the end of a paved cul-de-sac and offers underground utilities, including natural gas and high-speed cable internet. Residents enjoy 8.5 acres of common open space, 2,100 feet of creek frontage, shared pond frontage, and building restrictions that maintain high-quality construction. Outbuildings are allowed on this parcel. Adjacent parcels are also available to purchase.
2164 N Belanger Creek Drive, Suttons Bay - NEW LISTING
Belanger Creek – Lot 8. This private, quiet parcel offers a tranquil creekside building site with Belanger Creek flowing along the rear of the lot. Situated just 3 miles from the Village of Suttons Bay, it’s tucked at the end of a paved cul-de-sac and offers underground utilities, including natural gas and high-speed cable internet. Residents enjoy 8.5 acres of common open space, 2,100 feet of creek frontage, shared pond frontage, and building restrictions that maintain high-quality construction. Outbuildings are allowed on this parcel. Adjacent parcels are also available to purchase.
2155 N Belanger Creek Drive, Suttons Bay - NEW LISTING
Belanger Creek – Lot 6. Wonderful building site offering bay views and shared creek frontage on Belanger Creek! Situated just 3 miles from the Village of Suttons Bay, it’s tucked at the end of a paved cul-de-sac and offers underground utilities, including natural gas and high-speed cable internet. Residents enjoy 8.5 acres of common open space, 2,100 feet of creek frontage, shared pond frontage, and building restrictions that maintain high-quality construction. Adjacent parcels are also available to purchase. Gently sloping topography offers various building options!
1881 N Blue Water Court, Suttons Bay - NEW LISTING
Situated towards the end of a quiet dead-end private road, this premier building site delivers the kind of water view you've been searching for! With 31 acres of preserved common space, peaceful countryside surroundings, and panoramic Suttons Bay sunrise water views, this is easily one of the best water view lots in the area. The value goes beyond the water view, owners benefit from lower township tax rates, a paved private road, and developer-installed underground electric, gas, cable, and high-speed internet. A shared propane system and common drain field are already in place, saving you real time and real money when planning your dream home. Less hassle and fewer surprise costs. Located just minutes from Suttons Bay, Leland, and Omena, you get privacy without isolation — wineries, marinas, golf, and dining are all within easy reach. If you’ve been waiting for the right view in the right location, this is it!
1101 Jefferson Ave, Traverse City – SOLD
This is the Slabtown location you’ve been looking for! This oversized 195’ x 50’ lot is one of the largest you’ll find in Downtown Traverse City’s most sought-after neighborhood. Whether you renovate the existing 2-bedroom ranch home or build from the ground up, this parcel offers tremendous potential for your vision and your investment. R-1b zoning provides flexibility, allowing for accessory dwelling units (maximum of 2 dwellings per parcel) or an accessory building, depending on your desired use. The location can’t be beat: just ½ mile to Slabtown Beach on West Bay, ¾ mile to Downtown, ¼ mile to Munson, and ½ mile to Willow Hill Elementary. If you’re looking for a rare, extra-large parcel in a premium location with room to create exactly what you want, this is it. Opportunities like this don’t come around often so don’t miss out!
Leelanau County Vacant Land Market: 2016–2025 Trends, Pricing Power, and What It Means for Buyers & Sellers
Leelanau County Vacant Land Market: 2016–2025
Trends, Pricing Power, and What It Means for Buyers & Sellers
If you’re looking at vacant land in Leelanau County, the data tells a very clear story: land is scarce, demand is persistent, and pricing power has shifted decisively toward well-located parcels.
Using Northern Great Lakes Realtors MLS data from 2016 through 2025, here’s what actually happened—and why it matters if you’re buying or selling land in Leelanau County today.
Vacant Land Sales: Fewer Deals, Not Fading Demand
From 2016 through 2019, vacant land sales were fairly stable, averaging roughly 200–240 parcels per year. Then came the pandemic-era surge:
2020: 327 parcels sold
2021: 412 parcels sold (the decade high)
That spike wasn’t random. Buyers rushed to secure land for future homes, investment, or lifestyle properties as remote work became normal and Leelanau County jumped onto the national radar.
Since then, sales volume has cooled:
2022: 278 sales
2023: 168 sales
2024: 197 sales
2025: 193 sales
Here’s the key takeaway most people miss:
📉 Lower unit sales do not mean lower demand.
They mean less inventory and more selective buyers.
Dollar Volume Tells the Real Story
Now look at the money.
Even with fewer parcels changing hands after 2021, total dollar volume stayed strong:
2021: $71.1M (record year)
2022: $47.8M
2023: $31.2M
2024: $36.7M
2025: $46.9M
In fact, 2025 dollar volume nearly matched 2022, despite 85 fewer parcels sold.
That means:
➡️ Average land prices are significantly higher than pre-2020
➡️ Buyers are paying more per parcel, especially for buildable, view, waterfront, or well-located tracts
Translation: cheap land is the unicorn. You might hear about it, but you won’t see it.
Inventory: The Silent Constraint
The inventory chart is the mic-drop moment.
From 2016 to early 2020, Leelanau County routinely had 1,000–1,300 active vacant land listings. Then the market changed—fast.
2021: Inventory collapsed
2022–2025: Inventory remained historically low, bouncing between roughly 250–450 active listings
That’s a 60–75% reduction compared to pre-pandemic levels.
And here’s why that matters:
Fewer sellers are willing to let land go
Builders and long-term owners are holding
Desirable parcels are absorbed quickly when priced right
Low inventory is the real reason prices are holding—not speculation, not hype.
What This Means if You’re Buying Vacant Land
If you’re a buyer in Leelanau County:
You need to move faster than pre-2020 norms
“Waiting for prices to crash” hasn’t been a winning strategy
Buildable land with utilities, road frontage, or views is still commanding premiums
Smart buyers are focusing on:
Parcels with realistic building potential
Zoning and setback clarity
Long-term utility, not just acreage count
What This Means if You’re Selling Vacant Land
If you own vacant land, this is not the market to underprice—or overprice.
The data suggests:
Well-positioned parcels sell, even in slower years
Pricing accuracy matters more than ever
Buyers are sophisticated and expect strong value, not guesswork
The biggest mistake sellers make?
❌ Relying on outdated comps from pre-2020 inventory levels.
The Bottom Line on Leelanau County Vacant Land
From 2016 to 2025, Leelanau County’s vacant land market transformed:
Fewer listings
Fewer total transactions
Higher average prices
Sustained demand
This is no longer a high-volume land market—it’s a precision market. The winners are the buyers and sellers who understand the numbers, not the noise.
If you’re thinking about buying or selling vacant land in Leelanau County, the data doesn’t just help—it protects you from costly assumptions.
Thinking About Vacant Land in Leelanau County?
Whether you’re looking for a home site, an investment parcel, or you’re sitting on land and wondering what it’s worth in today’s market, having a hyper-local perspective matters.
I track this data closely because in a market like Leelanau County, details decide outcomes.
If you want a straight answer—not a sales pitch—I’m always happy to talk land.
Need Expert Real Estate Advice in Leelanau County or Suttons Bay? Contact Jonathan Oltersdorf Today!
For personalized insights into Leelanau County real estate, reach out to Jonathan Oltersdorf at Oltersdorf Realty, LLC.
📞 Office Phone: 231-271-7777
📧 Email: jonathan@oltersdorf.com
🌐 Website: www.oltersdorf.com
Leelanau County Principal Residence Exemption Trends (2010–2025): What the Data Really Tells Us
Leelanau County Principal Residence Exemption Trends (2010–2025): What the Data Really Tells Us
If you’re trying to understand who actually lives in Leelanau County—versus who owns vacation or investment property—the Principal Residence Exemption (PRE) is one of the most important data points available.
The chart above shows the percentage of residential parcels occupied as a primary home in Leelanau County from 2010 through 2025, based on Equalization Department data. And while the year-to-year changes may look small, the long-term trend tells a bigger story about housing pressure, second-home ownership, and inventory constraints.
What Is the Principal Residence Exemption (PRE)?
In Michigan, a Principal Residence Exemption indicates that a property is the owner’s primary residence. Homes with a PRE are typically occupied year-round by local residents, while parcels without a PRE are often:
Seasonal or vacation homes
Short-term or long-term rentals
Investment properties
Second homes owned by out-of-area buyers
Tracking PRE percentages is one of the best ways to measure how much of a community’s housing stock is truly serving full-time residents.
Key Takeaways from the 2010–2025 Leelanau County PRE Data
1. Less than half of all parcels are primary residences
Throughout the entire 15-year period shown, the PRE rate stays in a narrow range—roughly 45% to 47%. That means a majority of residential parcels in Leelanau County are not occupied full-time.
This is a defining characteristic of the local real estate market and a major reason inventory remains tight even when sales slow.
2. The peak occurred around 2017–2020
PRE percentages climbed steadily from 2010 and peaked around 2017–2020, topping out near 46.6%. This period coincides with:
Strong in-migration before and during the early COVID years
Buyers converting second homes into primary residences
Increased remote work flexibility
3. A post-2020 pullback reflects market reality
After 2020, the PRE percentage dips slightly and stabilizes again in the mid-45% range. This suggests:
Continued demand for seasonal and second homes
Investors and lifestyle buyers remaining active
Fewer homes converting to full-time residences than many expect
Despite record-setting sales activity earlier this decade, Leelanau County has not shifted into a majority full-time resident market.
Why PRE Trends Matter for Buyers and Sellers
For Buyers:
Low PRE percentages mean you’re competing in a market with:
Fewer owner-occupied listings
Higher competition for year-round homes
Zoning and rental rules that matter more than in typical markets
Understanding PRE data helps buyers set realistic expectations and make smarter offers.
For Sellers:
Homes that work well as primary residences often attract a different buyer pool than vacation or rental-focused properties. Knowing where demand actually comes from can directly affect pricing, timing, and marketing strategy.
For Policy and Long-Term Planning:
PRE data also plays a role in conversations about workforce housing, school enrollment, and local services—topics that continue to shape Leelanau County’s future.
Bottom Line
Leelanau County’s real estate market is not driven primarily by year-round residents—and the data proves it. For more than a decade, over half of all residential parcels have been non-primary residences, and that reality continues in 2025.
Anyone buying, selling, or investing here needs to understand this dynamic. It impacts values, inventory, negotiations, and long-term appreciation.
Want Local Data That Actually Matters?
I regularly analyze Leelanau County real estate trends, including sales, financing, cash purchases, and housing use patterns like PRE. If you want data-driven insight instead of national headlines, you’re in the right place.
Need Expert Real Estate Advice? Contact Jonathan Oltersdorf Today!
For personalized insights into Leelanau County real estate, reach out to Jonathan Oltersdorf at Oltersdorf Realty, LLC.
📞 Office Phone: 231-271-7777
📧 Email: jonathan@oltersdorf.com
🌐 Website: www.oltersdorf.com
Leelanau County Home Prices vs the S&P 500 (2010–2025): Real Estate as a Long-Term Investment
Leelanau County Home Prices vs the S&P 500 (2010–2025): Real Estate as a Long-Term Investment
The chart above compares Leelanau County home prices—both average and median sales prices—against the S&P 500 Index year-end values from 2010 through 2025.
Why compare housing to the stock market? Because many buyers and sellers ask the same question every year:
“Would I be better off putting my money in the market instead of real estate?”
OR
”Should I buy real estate from my stock market profits?”
This data-driven comparison helps answer that—specifically for Leelanau County, not the national averages that rarely reflect our local reality.
What the Chart Shows
This chart tracks three key metrics over 15 years:
Average Leelanau County sales price
Median Leelanau County sales price
S&P 500 Index year-end price
While these numbers measure different asset classes, they reveal how local real estate has performed alongside one of the most commonly referenced investment benchmarks.
Key Takeaways from 2010–2025
1. Leelanau County home prices show steady, long-term appreciation
From 2010 to 2025, both average and median home prices in Leelanau County trend consistently upward. Growth wasn’t perfectly smooth—no real asset ever is—but the long-term direction is clear.
This steady climb reflects:
Limited inventory
Strong second-home and lifestyle demand
A market less tied to short-term economic shocks
Real estate here behaves more like a scarcity asset than a speculative one.
2. Housing volatility is meaningfully different than the stock market
The S&P 500 experiences sharper rises and drops, including:
Rapid growth years
Short-term pullbacks
Emotional reaction cycles
Leelanau County home prices, by contrast, show less volatility and fewer dramatic swings.
That matters for:
Risk-averse investors
Homeowners focused on long-term equity
Buyers prioritizing stability over short-term gains
Real estate as an inflation hedge
Housing doesn’t spike like stocks—but it also doesn’t whipsaw the same way.
3. The 2020–2022 period changed the trajectory
Both asset classes accelerated after 2020, but local housing saw:
A surge in demand from remote workers
Increased migration from urban markets
Buyers converting second homes into primary residences
While the stock market experienced notable ups and downs after that surge, Leelanau County home values held their ground, reinforcing the market’s structural demand.
4. Median vs. average price trends matter
The median price rising alongside the average price signals broad-based appreciation—not just growth driven by luxury sales.
That tells us:
Appreciation wasn’t limited to top-tier waterfront homes
Demand pushed through multiple price brackets
The market strength wasn’t isolated to a few outliers
This is a key indicator of healthy price growth.
What This Means for Buyers, Sellers, and Investors
For Buyers:
Trying to time the Leelanau County market like stocks rarely works. Long-term buyers who focus on lifestyle, use, and holding power tend to benefit most.
For Sellers:
Price support here is structural, not speculative. Even during slower sales cycles, values don’t unwind the way overheated metro markets sometimes do.
For Investors:
Leelanau County real estate behaves less like a trading asset and more like a long-duration hold—with appreciation driven by geography, zoning, and limited supply.
Leelanau County Is Not a Wall Street Trade
This comparison makes one thing clear:
Leelanau County housing doesn’t move like the S&P 500—and that’s the point.
Stocks react quickly. Real estate here moves deliberately. And for many owners, that slower, steadier path has proven just as powerful over time—especially when paired with use, rental income, or tax advantages.
Want Local Market Data That Actually Applies Here?
I regularly analyze Leelanau County home prices, sales trends, financing patterns, and long-term market signals using local MLS and county data—not national headlines.
If you’re buying, selling, or simply trying to understand where this market fits in a bigger financial picture, local data beats generic advice every time.
Need Expert Real Estate Advice? Contact Jonathan Oltersdorf Today!
For personalized insights into Leelanau County real estate, reach out to Jonathan Oltersdorf at Oltersdorf Realty, LLC.
📞 Office Phone: 231-271-7777
📧 Email: jonathan@oltersdorf.com
🌐 Website: www.oltersdorf.com
2025–2026 Leelanau County Home Inventory: Why Low Supply Is Still Defining the Market
2025–2026 Leelanau County Home Inventory:
Why Low Supply Is Still Defining the Market
By Jonathan Oltersdorf, Leelanau County Realtor
Leelanau County’s real estate market continues to be defined by one word: scarcity.
As of January 29, 2026, there are just 55 available (non pending) homes for sale in the entire county, translating to roughly a ±2-month supply of inventory. To put that in perspective, a balanced real estate market typically sits closer to 5–6 months of supply. Leelanau County isn’t even in the same zip code as balanced in the winter months.
A Long-Term Look at Leelanau County Housing Inventory
The chart above shows Leelanau County home inventory trends from 2010 through early 2026, highlighting both summer peaks and winter lows. The contrast is stark:
2009–2011: Inventory ranged from a 2–3 year supply, driven by the Great Recession.
2012–2019: Gradual tightening, but still seasonal and manageable.
2020–Present: A structural shift to historically low inventory levels post Covid.
Even during peak summer seasons in recent years, the county has struggled to exceed a 6-month supply, and winter inventory routinely collapses into ultra-low territory.
What a ±2 Month Supply Really Means
A ±2 month supply isn’t just “low”—it’s seller-dominant territory.
In practical terms, this means:
Well-priced homes sell quickly
Buyers face limited choices
Multiple-offer situations remain common in desirable locations
Pricing stays firm, even when interest rates fluctuate
Low inventory also explains why Leelanau County home values have remained resilient while other markets across the country experience softening.
Why Inventory Hasn’t Rebounded
Contrary to popular belief, this isn’t just a post-COVID hangover. Several long-term factors are keeping inventory tight:
Low turnover: Many homeowners are locked into historically low interest rates and won’t sell unless they have to.
Limited new construction: Zoning, land constraints, and infrastructure limit large-scale development.
Second-home demand: Leelanau County continues to attract out-of-area buyers seeking lifestyle properties.
Strong cash presence: Cash buyers reduce reliance on financing cycles, stabilizing demand.
What This Means for Buyers in 2026
For buyers, today’s market requires strategy, patience, and local expertise. Waiting for a flood of inventory hasn’t worked—and history suggests it may not.
Smart buyers are:
Watching micro-markets (neighborhoods, townships, waterfront vs inland)
Acting decisively when the right property appears
Understanding realistic pricing instead of relying on national headlines
What This Means for Sellers
If you’ve considered selling but assumed the market “must have cooled,” the inventory numbers tell a different story.
With only 55 active listings county-wide, sellers who price correctly still benefit from:
Limited competition
Strong buyer demand
Shorter days on market relative to national averages
The Bottom Line on Leelanau County Housing Inventory
Leelanau County is no longer cycling between “hot” and “cold” markets—it has entered a low-inventory era. Seasonal fluctuations still exist, but the overall supply trend remains historically tight.
If you’re buying or selling in Suttons Bay, Leland, Glen Arbor, Northport, or anywhere in Leelanau County, decisions today should be based on local inventory data, not national real estate narratives.
About the Author
Jonathan Oltersdorf is a Leelanau County Realtor with Oltersdorf Realty, specializing in residential homes, waterfront properties, and vacant land throughout Leelanau County and Northern Michigan. Jonathan provides clear, data-driven market analysis to help buyers and sellers make confident real estate decisions. Jonathan is a lifelong Leelanau County local that attended Suttons Bay Schools.
Based on data provided by Northern Great Lakes REALTORS® MLS. Reliable but not guaranteed. Fractional ownership excluded.
Need Expert Real Estate Advice? Contact Jonathan Oltersdorf Today!
For personalized insights into Leelanau County real estate, reach out to Jonathan Oltersdorf at Oltersdorf Realty, LLC.
📞 Office Phone: 231-271-7777
📧 Email: jonathan@oltersdorf.com
🌐 Website: www.oltersdorf.com
What and Where Leelanau County Homebuyers Purchased in 2025
What and Where Leelanau County Homebuyers Purchased in 2025
A Data-Driven Look at Buyer Preferences and Sales Volume
Leelanau County real estate in 2025 told a clear story: buyers were selective, values remained strong, and demand extended well beyond just waterfront trophy homes. By analyzing MLS sales data from 2025, we can break down what types of homes buyers purchased and which townships captured the most sales volume across the county.
If you’re thinking about buying or selling in Leelanau County, this data matters—because it shows where buyers actually put their money.
What Leelanau County Homebuyers Bought in 2025
In 2025, 375 residential properties closed across Leelanau County. The breakdown of what buyers purchased highlights a surprisingly diversified market.
🏡 2025 Leelanau County Homebuyer Property Types
44% – Other Residential Homes
(Primary residences, inland homes, village properties, and non-waterfront single-family homes)21% – Waterfront Homes
Still highly desirable, but no longer dominating the market like they did during the pandemic surge.13% – Condominiums
Low-maintenance living continues to attract second-home buyers, retirees, and investors.12% – Water View Homes
Buyers are clearly willing to trade direct frontage for views—at a more approachable price point.10% – Homes on 5+ Acres
Privacy, woods, and elbow room remain in demand, especially among full-time residents.
Key Takeaway
Despite Leelanau County’s reputation for luxury waterfront real estate, nearly half of all buyers purchased “non-waterfront” homes. The market in 2025 rewarded flexibility—not just shoreline.
Where Buyers Spent Their Money in Leelanau County
Looking at sales volume by township gives us a clearer picture of where demand—and pricing power—was strongest.
💰 Leelanau County 2025 Residential Sales Volume by Township
Township Sales Volume
Elmwood Township $47,986,600
Leland Township $45,496,000
Suttons Bay Township $45,377,414
Leelanau Township $42,652,569
Bingham Township $38,312,000
Glen Arbor Township $33,305,260
Empire Township $23,406,880
Centerville Township $13,092,197
Kasson Township $11,954,900
Solon Township $11,638,300
Cleveland $7,427,150
City of Traverse City $5,754,500
Township Market Insights
Elmwood Township led the county in total sales volume, benefiting from proximity to Traverse City, newer housing stock, and strong year-round demand.
Leland, Suttons Bay, and Leelanau Townships formed a tight cluster just behind Elmwood—proof that village-based living and water access remain powerful drivers.
Glen Arbor and Empire continued to perform well despite limited inventory, reinforcing long-term value in west-side Leelanau.
Lower-volume townships like Centerville, Kasson, and Solon still recorded meaningful sales, often appealing to buyers prioritizing land, privacy, or price.
What This Means for Buyers and Sellers in 2026
The 2025 Leelanau County housing market wasn’t one-note. Buyers spread their purchases across property types, price points, and townships, proving the market is both resilient and nuanced.
If You’re a Buyer:
You don’t need waterfront to be competitive or to see long-term value.
Condos and inland homes remain strong entry points.
Location, not just frontage, is driving appreciation.
If You’re a Seller:
Pricing correctly matters more than ever.
Non-waterfront homes still command serious attention when marketed right.
Data-backed pricing beats “testing the market” every time.
Final Thoughts on Leelanau County Real Estate in 2025
Leelanau County continues to attract a wide range of buyers—from full-time residents to second-home owners—who value lifestyle, location, and long-term stability. The 2025 data shows a healthy market grounded in demand, not hype.
If you want a hyper-local breakdown of your specific township, price range, or property type, that’s where real insight happens.
Based on data provided by Northern Great Lakes REALTORS® MLS. Reliable but not guaranteed. Fractional ownership excluded.
Need Expert Real Estate Advice? Contact Jonathan Oltersdorf Today!
For personalized insights into Leelanau County real estate, reach out to Jonathan Oltersdorf at Oltersdorf Realty, LLC.
📞 Office Phone: 231-271-7777
📧 Email: jonathan@oltersdorf.com
🌐 Website: www.oltersdorf.com
Leelanau County Home Sales 2025: How 375 Buyers Purchased—Cash vs Financing
Leelanau County Single Family Home Sales 2025:
How 375 Buyers Purchased - Cash vs Financing
2025 Leelanau County Homebuyers: Cash vs. Financing Trends Explained
If you’re buying or selling real estate in Leelanau County, one question to keep an eye on in today’s market:
Are buyers paying cash, or are they financing?
The short answer for 2025: both—but financing is back in the driver’s seat.
2025 Leelanau County Home Sales Breakdown
Based on data from the Northern Great Lakes Realtors MLS, here’s how 375 total sales in Leelanau County in 2025 break down:
55% Financing
45% Cash Purchases
That’s a meaningful shift, especially when compared to 2024, when 44% of sales were cash and 2023 when 50% of sales were cash. Cash buyers didn’t disappear—but financed buyers are clearly reasserting themselves.
In other words:
💰 Cash is still powerful.
🏦 But mortgages are very much back in play.
What’s Driving Financing Back Into the Market?
1. Interest Rates Have Stabilized
The average 30-year fixed mortgage rate in 2025 is approximately 6.60%. While that’s higher than pandemic-era lows, buyers have adjusted expectations. The shock is gone. Normal decision-making has returned.
Translation: buyers aren’t waiting for “perfect” rates anymore. They’re moving forward.
2. Pent-Up Buyer Demand
Many financed buyers sat on the sidelines in 2023–2024, especially first-time and move-up buyers. By 2025, lifestyle needs (schools, downsizing, second homes) are outweighing rate anxiety.
People still need houses—even in Northern Michigan.
3. Leelanau County’s Buyer Pool Is Evolving
Leelanau County continues to attract:
Primary-residence buyers and 2nd home buyers
Professionals relocating from downstate
Buyers selling higher-priced homes elsewhere and financing strategically
Not every buyer wants to pay cash—even if they could.
What This Means for Sellers in Leelanau County
Cash offers still matter—but they’re no longer the whole story.
If you’re selling:
Expect a broader buyer pool
Well-priced homes will attract both cash and financed buyers
Clean listings, realistic pricing, and strong negotiation matter more than “cash only” thinking
Sellers who automatically dismiss financed buyers in 2025 may leave money—or better terms—on the table.
What This Means for Buyers
If you’re financing a home purchase in Leelanau County, here’s the good news:
You are not the minority
Sellers are increasingly open to financed offers
Strong pre-approvals and clean terms matter more than rate obsession
Cash buyers still have leverage—but financed buyers are competing successfully every day.
Bottom Line: A Healthier, More Balanced Market
The 2025 Leelanau County real estate market shows signs of normalization:
Financing dominates at 55% of sales
Cash remains strong at 45%
Total sales increased to 375 transactions
Buyers and sellers are adapting—not freezing
This balance is exactly what a sustainable market looks like.
If you’re thinking about buying or selling in Leelanau County or Traverse City, understanding how buyers are purchasing is just as important as knowing what homes are selling for.
Need Expert Real Estate Advice? Contact Jonathan Oltersdorf Today!
For personalized insights into Leelanau County real estate, reach out to Jonathan Oltersdorf at Oltersdorf Realty, LLC.
📞 Office Phone: 231-271-7777
📧 Email: jonathan@oltersdorf.com
🌐 Website: www.oltersdorf.com
Where did 2025 Leelanau County Homebuyers Come From?
Where did 2025 Leelanau County
Homebuyers Come From?
Understanding where Leelanau County homebuyers are coming from is key to understanding market demand, pricing pressure, and future trends. Based on Northern Great Lakes Realtors® MLS data, the visuals above tell a clear story: Leelanau County real estate is no longer a mostly local market — it’s a regional and national one.
Below is a breakdown of what the data shows and why it matters if you’re thinking about buying or selling property in Leelanau County.
Leelanau County Buyers: A National Footprint
The heat map shows buyer zip codes spread across the entire United States, with heavy concentrations in:
Michigan (especially Southeast Michigan)
Illinois (Chicago metro area)
Ohio, Indiana, and Wisconsin
Secondary pockets along the East Coast, Texas, Florida, and the West Coast
This confirms what many sellers already feel during showings: Leelanau County attracts out-of-area buyers who are willing to travel, compete, and pay for lifestyle.
Northern Michigan is no longer a secret — it’s a destination.
Local Buyers Are Shrinking as a Share of the Market
The bar chart highlights a long-term trend that matters a lot.
Percent of Buyers From Leelanau or Grand Traverse County:
2014: 63.0%
2016: 61.6%
2018: 56.5%
2020: 53.0%
2021: 48.3%
2023: 44.1%
2024: 40.0%
2025: 43.0%
While 2025 shows a small rebound, the big picture is clear: local buyers now represent less than half of the market.
This shift has major implications:
More cash buyers
Fewer contingency-driven offers
Stronger demand for waterfront, second homes, and short-term rental-capable properties
2025 Buyer Breakdown: The Numbers
375 total buyers in 2025
43% from Leelanau or Grand Traverse County
57% from outside the local area
Each dot on the Michigan map represents a unique buyer zip code from 2025, reinforcing how geographically diverse demand has become.
This isn’t just tourism interest — these are people putting capital into Leelanau County real estate.
Why This Matters for Sellers
If you’re selling a home or land in Leelanau County, this data should shape your strategy.
Out-of-area buyers:
Rely heavily on online listings, photos, video, and data
Are more emotional about lifestyle and views than price-per-square-foot
Often make faster decisions
That means:
Professional marketing matters
Overpricing gets exposed quickly
Unique properties perform best when positioned correctly
The market rewards sellers who understand who the buyer actually is.
What This Means for Buyers
If you’re a local buyer, the competition isn’t your neighbor — it’s often someone from:
Metro Detroit
Chicago
Cincinnati or Columbus
Out-of-state buyers seeking second homes or retirement properties
Winning in this market often requires:
Strong financing or cash
Clean offers
Decisiveness
Understanding buyer origins helps explain why well-priced homes move quickly — even in shifting market conditions.
The Big Picture: Leelanau County Is a Lifestyle Market
The takeaway is simple:
Leelanau County is no longer driven primarily by local demand. It’s driven by lifestyle migration, remote work flexibility, and long-term wealth preservation.
That’s a fundamentally different market than it was 10 years ago — and it’s why smart pricing, timing, and strategy matter more than ever.
Data based on information provided by Northern Great Lakes Realtors® MLS. Reliable but not guaranteed. Does not include fractional ownership.
Need Expert Real Estate Advice? Contact Jonathan Oltersdorf Today!
For personalized insights into Leelanau County real estate, reach out to Jonathan Oltersdorf at Oltersdorf Realty, LLC.
📞 Office Phone: 231-271-7777
📧 Email: jonathan@oltersdorf.com
🌐 Website: www.oltersdorf.com
2025 Leelanau County Real Estate Market Update: Prices Rise, Sales Volume Surges
2025 Leelanau County Real Estate Market Update:
Prices Rise, Sales Volume Surges
If you’ve been waiting for Leelanau County real estate to “cool off,” 2025 politely declined. Prices rose, sales volume surged, and more homes sold than the year before. Using figures from the Northern Great Lakes Realtors® MLS, here’s what actually happened in the Leelanau County residential real estate market in 2025 and what it means moving forward.
Total Residential Sales Volume Climbs Sharply
Total residential sales volume in Leelanau County reached $326,403,770 in 2025, a +15.83% increase over 2024.
That kind of growth doesn’t happen by accident, especially in a higher-rate environment. It reflects strong demand, confident buyers, and sellers successfully closing at higher price points.
Bottom line: capital is still flowing into Leelanau County real estate.
Total Homes Sold Increased by Nearly 11%
This is the stat that cuts through the noise.
2024 total homes sold: 338
2025 total homes sold: 375
Year-over-year change: +10.95%
More homes sold and higher prices means demand isn’t just holding—it’s expanding.
Why this matters:
Buyers weren’t just browsing—they were committing.
Inventory that hit the market moved.
The increase in sales volume wasn’t driven only by luxury closings.
In short: this was real market activity, not statistical inflation.
Median Home Price Reaches $680,000
The median home sales price rose to $680,000 in 2025, an 11.57% increase year-over-year.
Median price tells us what the typical Leelanau County home is doing, and this confirms price strength across the market—not just at the high end.
What it signals:
Strong competition for well-priced homes
Continued upward pressure from limited inventory
Sellers rewarded for correct pricing and preparation
Leelanau County remains a supply-constrained market, and the data shows it.
Average Home Price Shows Healthy, Slower Growth
The average home sales price increased to $870,410, up 4.40% from 2024.
This slightly slower growth compared to the median price is actually good news.
Translation:
Fewer extreme outlier sales skewing the numbers
A more balanced mix of primary, second-home, and luxury transactions
A maturing, stabilizing market—not a declining one
Stability at elevated price levels is a sign of confidence, not weakness.
What This Meant for Buyers and Sellers in 2025
Sellers:
Demand is proven, not speculative.
Homes are selling—375 of them, to be exact.
Pricing strategy matters more than ever.
Overpricing will get noticed faster than it used to. Buyers are motivated, but they’re not reckless.
Buyers:
Waiting for a major pullback in Leelanau County has historically been a losing bet.
Negotiation opportunities exist, especially on stale or improperly priced listings.
Quality homes continue to attract competition.
The smartest buyers in 2025 weren’t timing the market—they were choosing the right property.
Why Leelanau County Continues to Outperform
Leelanau County’s long-term strength comes from fundamentals that don’t change quickly:
Limited supply and strict zoning
Persistent second-home and cash-buyer demand
Lifestyle-driven purchases, not short-term speculation
Buyers thinking in decades, not rate cycles
2025 reinforced what locals already know: this market plays the long game.
Thinking About Buying or Selling in Leelanau County?
Market stats are useful—but strategy is everything. Whether you’re preparing to sell, evaluating timing, or trying to buy without overpaying, local insight matters.
If you want a straightforward, data-driven read on your situation (no sugarcoating, no national-portal nonsense), feel free to reach out.
Data based on information from the Northern Great Lakes Realtors® MLS. Reliable but not guaranteed. Does not include fractional ownership.
Need Expert Real Estate Advice? Contact Jonathan Oltersdorf Today!
For personalized insights into Leelanau County real estate, reach out to Jonathan Oltersdorf at Oltersdorf Realty, LLC.
📞 Office Phone: 231-271-7777
📧 Email: jonathan@oltersdorf.com
🌐 Website: www.oltersdorf.com
2025 Grand Traverse County Real Estate Market Report: Year-End Home Sales Data & Trends
2025 Grand Traverse County Real Estate Market Report: Year-End Home Sales Data & Trends
This report is based on verified MLS data from the Northern Michigan Realtors. Note that undisclosed home sales and fractional ownership transactions are excluded to maintain data accuracy.
Need Expert Real Estate Advice? Contact Jonathan Oltersdorf Today!
For personalized insights into Grand Traverse County real estate, reach out to Jonathan Oltersdorf at Oltersdorf Realty, LLC.
📞 Office Phone: 231-271-7777
📧 Email: jonathan@oltersdorf.com
🌐 Website: www.oltersdorf.com
2026 Current Lake Michigan Water Levels
2026 Current Lake Michigan Water Levels
Lake Michigan Water Levels Down -7 Inches in Past 12 Months
After several years of historically high levels, Lake Michigan water levels are finally trending downward in 2026. According to the latest data, water levels in Lake Michigan and Grand Traverse Bay have dropped 7 inches compared to this time last year and are now 17 inches lower than two years ago.
This shift is closely watched by Lake Michigan waterfront property owners, especially those in Leelanau County and Grand Traverse County, as changing lake levels directly impact shoreline conditions, erosion, docks, and long-term property planning.
Official Lake Michigan Water Level Data (January 9, 2026)
Water level data is collected and published by the U.S. Army Corps of Engineers, the official source for current and historical Great Lakes water levels.
Date of Reading: January 9, 2026
Current Lake Michigan Water Level: 577.5 feet
Lake Michigan Water Level Comparisons
Change from January 9, 2025: –7 inches
Difference from Long-Term Average: –12 inches
Difference from Highest Monthly Average (2020): –49 inches
Difference from Lowest Monthly Average (2013): +17 inches
Lake Michigan Water Level Projection
Projected Change by February 10, 2026: –1 inch
What This Means for Waterfront Property Owners
Lower water levels can reduce erosion pressure but may expose shoreline, affect dock usability, and change beach conditions—especially along Lake Michigan and Grand Traverse Bay waterfront properties. For buyers and sellers, water level trends are now becoming a bigger conversation point than they’ve been in recent years.
Short version: the lake is coming back toward normal. Slowly. No panic. No headlines. Just physics doing its thing.
For more information on current & past historic records regarding the Great Lakes Water Levels please visit: https://water.usace.army.mil/office/lre/docs/weekly/weekly.pdf
Tags Lake Michigan, Waterfront, Water Levels, Leelanau County, Grand Traverse County, West Grand Traverse Bay, Suttons Bay, Northport, Leland, Omena, Glen Arbor, Empire, Traverse City
Geography of Choice in 2020s America: Traverse City & Leelanau County
The Geography of Choice in 2020s America: What a Recent Domestic Migration Map Reveals — And Why Traverse City and Leelanau County, MI Are Winning Big
National Migration Hotspots and Cold Spots
Big winners in dark green: The Upper Rockies (+6.0% of regional population), Greater Ozarks (+3.5%), Texas Triangle (+3.5%), Southern Coastal Plain (+7.1%), and the Northwoods (+3.3% with 56,000 net new residents).
The map outlines the Northwoods (Laurentian Mixed Forest Province) stretching across northern Minnesota, Wisconsin, the Upper Peninsula of Michigan, and into the northern Lower Peninsula — a sparsely populated, forested region standing out with consistent green shading amid much of the rural Midwest's neutral or purple tones.
Major losers in purple: California (1.47 million net loss, -3.7%), the Mississippi Delta (-5.0%), and parts of the Great Plains.
The map emphasizes that migration favors scenic, nature-rich areas with lower costs and outdoor appeal — often rural or small-town spots boosted by remote work.Why the Northwoods — Including Northern Michigan — Are Attracting New Residents. The Northwoods region, including much of Northern Michigan, bucks broader Midwest trends with positive net domestic migration. This aligns with real-world data: Michigan's rural counties (especially in the northwest) saw population growth from 2020-2024 driven by domestic in-migration, offsetting natural decrease. Areas like Traverse City and surrounding counties have benefited from inflows of remote workers, retirees, and families escaping high costs, extreme heat in places like Texas/Florida, or urban pressures elsewhere.Recent reports note people moving into the Traverse City area from southern states, drawn by four-season beauty, community, and relative affordability compared to coastal hotspots.Traverse City and Leelanau County: A Prime Example of "Geography of Choice"Nestled in the heart of the Northwoods ecoregion along Lake Michigan, Traverse City, MI, and Leelanau County embody why people are choosing these areas. The region boasts stunning natural features, a thriving local economy (wine, cherries, tourism), and a peaceful lifestyle that's increasingly appealing in the 2020s.
Why Move to Traverse City or Leelanau County, MI?
Natural beauty — Pristine lakes, dunes, forests, and trails.
Quality of life — Four seasons, farm-to-table scene, wineries, and small-town vibe.
Migration momentum — Positive domestic inflows, especially post-2020, as people seek cooler climates and space.
Economic perks — Growing opportunities in tourism, remote work, and agriculture.
If you're considering a move to Northern Michigan, Traverse City and Leelanau County stand out as top destinations in America's shifting "Geography of Choice." The 2020-2024 migration map proves it: people are choosing places like ours for the lifestyle they offer.Have you noticed more out-of-state plates around town?
Lot 10 - Blue Water Court, Suttons Bay - SOLD
Lot 61 S Skye Hill Drive, Traverse City - SOLD
Lot 6 – N Indian Camp Road, Northport – SOLD
Dreaming of a peaceful waterfront location to build your vacation retreat or forever home in Leelanau County? Hitting the market for the first time since 1961, this ~1.18-acre vacant parcel offers 104 feet of private, direct frontage on Grand Traverse Bay—complete with unique views of Gull Island. The land is level, untouched, adorned with mature towering trees, and is accessed by a private dead-end road. A recently completed soil evaluation (perc test) confirms suitability for a traditional on-site septic system. High-speed fiber internet was installed along the road in spring 2025. With no known deed restrictions, you’ve got the freedom to bring your vision to life. Situated just 2.5 miles south of the charming Village of Northport and within a short drive of all the amenities of Traverse City! Vacant building sites on Grand Traverse Bay are becoming quite hard to find, don’t miss out on this one!
11604 Whittington Street, Traverse City - SOLD
JUST SOLD - Buyer Agent -> Vicky Oltersdorf. $890,000 - 11604 Whittington Street, Traverse City | Stunning 4-bedroom Craftsman-style walk-out ranch in Traverse City’s coveted Morgan Farms neighborhood, featuring high-end finishes, a walk-out lower level with wet bar, premium upgrades throughout, and a private, landscaped lot backing to serene natural area just minutes from downtown!