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.
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.
7018 Cedar Run Road, Traverse City - SOLD
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!
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!
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
607 W Tenth Street, Traverse City - SOLD
SOLD DOWNTOWN TRAVERSE CITY HOME
SOLD by Oltersdorf Realty LLC on 3/21/2025
607 W Tenth Street, Traverse City, MI
$355,000
JUST SOLD in Downtown Traverse City! This charming 3-bedroom, 2-bath home is nestled in the highly sought-after Central Neighborhood on a rare and spacious 50' x 165' lot. Finding a 50' wide lot at this price point is no easy feat—an incredible opportunity in a prime location!
2024 Grand Traverse County Real Estate Market Report: Year-End Home Sales Data & Trends
2024 Grand Traverse County Real Estate Market Report: Year-End Home Sales Data & Trends
Looking for the latest 2024 Grand Traverse County real estate market trends? This comprehensive year-end home sales report provides in-depth insights into Traverse City home sales, pricing trends, and real estate market performance. Explore historical sales data, compare pricing changes, and discover what’s driving the Northern Michigan housing market.
2024 Grand Traverse County Home Sales Data & Market Trends
The 2024 real estate market in Grand Traverse County saw notable shifts in pricing and sales volume. Below, we break down the key data points for home sales between January 1, 2024, and December 31, 2024, while comparing trends from the past decade (2015-2023). This data includes sales across Acme, Blair, East Bay, Fife Lake, Garfield, Grant, Green Lake, Long Lake, Mayfield, Paradise, Peninsula, Union, Whitewater, and the City of Traverse City.
Key 2024 Grand Traverse County Home Sales Statistics:
Total Homes Sold: +0.38% Increase (compared to 2023)
Total Sales Volume: +6.04% Increase
Average Home Sales Price: +5.64% Increase
Median Home Sales Price: +6.04% Increase
Traverse City & Grand Traverse County Housing Market Insights
The Traverse City real estate market has remained strong, with steady growth in home values and increased buyer demand. Rising home prices in 2024 reflect market stability, while inventory levels continue to shape the housing landscape. Whether you’re a homebuyer, seller, or investor, understanding these real estate market trends is crucial for making informed decisions.
Historical Real Estate Market Comparison: 2015-2024
This Grand Traverse County housing market analysis includes data from the Northern Michigan Realtors MLS spanning 2004-2024. By comparing Traverse City real estate trends over the past decade, you can identify long-term growth patterns and market fluctuations.
Why This Data Matters for Homebuyers & Sellers
Sellers: Learn how rising home values can maximize your home sale profits.
Buyers: Understand market pricing trends to make informed home purchasing decisions.
Investors: Gain insight into Grand Traverse County real estate appreciation rates for better investment strategies.
Reliable Grand Traverse County Home Sales Data
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.
📞 Phone: 231-271-7777
📧 Email: jonathan@oltersdorf.com
🌐 Website: www.oltersdorf.com
December 2024 Traverse City Business News Article
Check out my interview in the December 2024 Traverse City Business News discussing 2025 real estate trends and predictions! - Jonathan Oltersdorf
2025 Current Lake Michigan Water Levels
2025 Current Lake Michigan Water Levels
Lake Michigan Water Levels Down -10 Inches in Past 12 Months
After several years of Lake Michigan water levels holding steady we are now starting to see a noticeable drop in Lake Michigan / Grand Traverse Bay water levels in 2025 as they have decreased 10 inches from this time last year.
The United States Army Corps of Engineers collects and publishes current / past Lake Michigan water level data which is very important to many property owners in Leelanau County & Grand Traverse County who own real estate on Lake Michigan or Grand Traverse Bay. Their last reading took place on January 10, 2025.
January 10, 2025 578.02 feet
Difference from January 10, 2024: -10 inches
Difference from long term average: -6 inches
Difference from highest monthly average (2020): -43 inches
Difference from lowest monthly average (2013): +24 inches
Projected change in levels by Feb 10, 2025: - 1 inch
For more information on current & past historic records regarding the Great Lakes Water Levels please visit: http://www.lre.usace.army.mil/Missions/Great-Lakes-Information/Great-Lakes-Water-Levels/Water-Level-Forecast/Weekly-Great-Lakes-Water-Levels/
2057 Arrowhead Drive, Traverse City – SOLD
SOLD TRAVERSE CITY RANCH HOME
LISTING SOLD by Oltersdorf Realty LLC on 9/25/2024
2057 Arrowhead Drive, Traverse City, MI – 5 Bedrooms, 3 Baths, 3,216 Sq Ft Walkout Ranch
$580,000
This is the Huron Hills home that you’ve been waiting for! Nestled in a prime location at the base of Old Mission Peninsula, this expansive 5-bedroom, 3-bathroom walkout ranch spans over 3,216 square feet, offering generous living spaces ideal for your entire family and guests. The main level features approximately 1,836 square feet of comfortable living, a spacious living room with vaulted ceilings and a cozy wood burning fireplace, 3 main floor bedrooms including a large main floor private master suite with a private balcony, main floor laundry, and an attached 2 car garage. Descend to the lower level and discover an enormous family room with a 2nd wood-burning fireplace and a walkout door, 2 additional bedrooms, a full bath, and a mechanical/storage room. Outside, enjoy the multi-level decking that overlooks a generous 0.39-acre wooded parcel, offering plenty of privacy amid mature hardwoods. This home is perfectly situated—close to everything yet tucked away in a quiet neighborhood just 2.5 miles from Downtown Traverse City, 0.8 miles to Eastern Elementary, Central High School, and NMC, 1.4 miles to East Bay Park Beach, and 1.7 miles to Bryant Park Beach!
7423 Westwind Road, Traverse City – NEW LISTING
Perfectly situated at the base of Old Mission Peninsula, this meticulously cared for 4-bedroom, 3.5-bath home offers approximately 4,645 sq. ft. of beautifully finished living space, complete with splendid year-round western facing sunset Bay Views! Enjoy endless summer fun in your own in-ground pool, the ultimate backyard retreat for cooling off and unwinding. Since 2018, this home has undergone a long list of impressive updates, including custom Amish built kitchen cabinetry, granite countertops & new appliances, Brazilian cherry hardwood floors, carpeting, full repainting of both the interior and exterior, new drain field, new automatic pool cover & pump, rim joist spray foam insulation, gutters, and so much more! This home is conveniently located on Old Mission - close to everything yet tucked away on a quiet private road just 1.3 miles from East Bay Boat Launch & 3.5 miles to Downtown Traverse City!
2024 Home Sales Data - Mid-Year Review
Year-To-Date Market Snapshot --> How is the Leelanau real estate market in 2024? Average sales price is up but the median sales price is flirting with it's first decline since 2009.....
Year-To-Date Market Snapshot --> How is the Grand Traverse County real estate market in 2024? Price growth has slowed this year but all data is still trending up!
Leelanau & Grand Traverse Home Inventory - May 2024
Happy Friday! Just a quick update on current data for #Leelanau & Grand Traverse home inventory | May 2019 ---> May 2024. TLDR - It's still a great time to be a Seller in this housing market with limited inventory compared to pre-pandemic levels.... Scroll down for Grand Traverse County.
8535 Underwood Ridge, Traverse City - SOLD
SOLD OLD MISSION WATER VIEW HOME
SOLD by Oltersdorf Realty LLC on 4/25/2024
Buyer's Agent --> Jonathan Oltersdorf
8535 Underwood Ridge, Traverse City, MI – Old Mission Water View home featuring 4 bedrooms, 5 baths, 5,265+ finished sq ft, in-ground pool, 2.20 acres, and 500’ of shared sandy frontage on West Grand Traverse Bay!
$1,690,000
581 Georgeotwn Place #8, Traverse City, MI – SOLD
SOLD TRAVERSE CITY CONDOMINIUM
LISTING SOLD by Oltersdorf Realty LLC on 3/1/2024
581 Georgetown Place #8, Traverse City, MI – 3 Bedroom, 2 Bath Condominium Near Downtown
$313,000
This desirable townhouse style condo is located in a quiet and convenient development within 1.5 miles of downtown Traverse City, Munson Hospital, restaurants, shopping, and so much more! One of the best locations in the complex, this end-unit offers extra privacy abutting development open space. Step inside to the spacious living room/dining room which enjoys vaulted ceilings, a gas fireplace, and access to a large private deck overlooking a beautiful Dogwood tree and naturally landscaped commons. Home features include: 1,585 sq ft of finished living area, 3 bedrooms, 2 full baths, roomy kitchen with a pass-through breakfast bar and newer appliances, conveniently located laundry area off the main bedroom, upstairs loft sitting area or office offering flexibility for your lifestyle, zoned heating, a/c, a large storage room or potential workshop off the garage, 1 car attached garage, and an additional 1 car carport under the deck. Don’t miss this option for maintenance free living, low association dues, and a fantastic location on the edge of downtown close to everything that Traverse City has to offer!
2023 Grand Traverse County Year-End Home Sales Data
2023 Grand Traverse County Year-End Home Sales Data
(click photos below to enlarge)
Explore the 2023 Grand Traverse County (Traverse City) home sales data, comparing prices, volumes, and trends with the previous years. Discover insights on median pricing, average sale prices, and the overall real estate market in the region.
Explore the comprehensive 2023 year-end (January 1 – December 31) home sales figures for Grand Traverse County in the charts above. Compare real estate housing sales in the county from January 1, 2023, to December 31, 2023, with the corresponding periods in 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015, and 2014, covering townships such as Acme, Blair, East Bay, Fife Lake, Garfield, Grant, Green Lake, Long Lake, Mayfield, Paradise, Peninsula, Union, Whitewater, and the City of Traverse City.
Key 2023 Grand Traverse County Home Sales Statistics:
Home Sales Units Sold: -10.95% decrease (attributed to a lack of inventory)
Volume Sold: -3.44% decrease
Average Sales Price: +8.43% increase
Median Sales Price: +8.22% increase
This comprehensive report relies on sales data extracted from the Northern Michigan Realtors MLS spanning from 2004 to 2023. Please note that undisclosed sales and fractional ownership details are excluded. The information provided is intended for basic review purposes, with all efforts made for accuracy, though it cannot be guaranteed.
For further inquiries, contact Jonathan Oltersdorf at Oltersdorf Realty, LLC:
Jonathan Oltersdorf, Oltersdorf Realty, LLC
Phone: 231-271-7777
E-mail: jonathan@oltersdorf.com
2024 Current Lake Michigan Water Levels
2024 Current Lake Michigan Water Levels
Lake Michigan Water Levels Up +1 Inch in 12 Months
For the 4th year in a row the good news continues for many waterfront property owners on Lake Michigan as the most recent readings indicate that water levels are now holding steady and just +1 inches higher compared to this time in 2023 and -32 inches lower than this time in 2020! January 2020 - July 2020 saw record high water levels on Lake Michigan which caused massive investment in shoreline protection throughout Leelanau County and the region.
The United States Army Corps of Engineers collects and publishes current / past Lake Michigan water level data which is very important to many property owners in Leelanau County & Grand Traverse County who own real estate on Lake Michigan or Grand Traverse Bay. Their last reading took place on January 12, 2024.
January 12, 2024 578.90 feet
Difference from January 12, 2023: +1 inch
Difference from long term average: +5 inches
Difference from highest monthly average (2020): -32 inches
Difference from lowest monthly average (2013): +35 inches
Projected change in levels by Feb 12, 2024: -1 inches
For more information on current & past historic records regarding the Great Lakes Water Levels please visit: http://www.lre.usace.army.mil/Missions/Great-Lakes-Information/Great-Lakes-Water-Levels/Water-Level-Forecast/Weekly-Great-Lakes-Water-Levels/