🏡 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