2008 Sales Data

The 2008 sales data has been calculated! I have created a chart below for you to compare the Leelanau County and Grand Traverse County real estate home sales for 2006, 2007, and 2008.

CountySold HomesDollar VolumeAverage PriceMedian Price
2008 Leelanau 210$77,263,117 $367,920 $266,500
2007 Leelanau277$98,524,539 $355,684 $235,000
2006 Leelanau 239$90,607,389 $379,110 $270,000
2008 Grand Traverse994$180,780,041 $181,871 $146,500
2007 Grand Traverse1,078$223,196,548 $207,047 $164,900
2006 Grand Traverse1,189$250,110,381 $210,354 $169,000
This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from January 2006, through December 2008. Undisclosed sales are not included in the data.

As you can see from the results above, Grand Traverse County has been decreasing in all major categories throughout the past several years. Much of this is due to the drastic increase in foreclosures throughout GT County. Leelanau County has had a relatively low amount of foreclosures compared to surrounding counties (only 32 in 2008, 15% of homes sold). EDIT: Antrim County had 63 foreclosures and 202 total sales (31% of homes sold). Grand Traverse County had 261 foreclosures and 994 total sales (26% of homes sold). The results in Leelanau County are intriguing as average sale price as well as median price has both increased from 2007 to 2008 while dollar volume and number of homes sold has decreased. If you have any questions regarding this data, please contact Jonathan or Vicky Oltersdorf and we would be more than happy to discuss it with you!