Lot 19 – S Cherry Blossom Lane, Suttons Bay - SOLD

LISTED & SOLD BY OLTERSDORF REALTY ON 7/17/2026
$75,000 - Lot 19 – S Cherry Blossom Lane, Suttons Bay, MI – 0.86 Acres with 700’ Shared on West Bay!

Centrally located just 5 minutes from the charming year-round Village of Suttons Bay and only 20 minutes from downtown Traverse City, this level 0.86-acre corner parcel is mostly cleared and ready for construction of your future Leelanau home. The flat topography offers an easy building site with reduced excavation costs. Best of all, there are no HOA fees and no required timeframe to build. Take a short 0.25-mile walk down the hill or a quick 1.8-mile drive and start enjoying the shared waterfrontage on West Grand Traverse Bay! Knorrwood Bluffs is a popular neighborhood known for its rolling terrain, mature hardwoods, quiet roads, and peaceful setting. This well-established subdivision offers underground electric, natural gas, cable tv/internet, county-maintained roads, protective covenants, and a 1,250 sq. ft. minimum building requirement. Enjoy 700 feet of shared frontage on West Grand Traverse Bay, providing opportunities for swimming, boating, kayaking, and waterfront recreation. Owners who choose to participate in install/maintenance share the cost and use of a private dock.  Kayak storage is conveniently allowed at the beach. Check it out!!!

2026 Home Sales Data - Mid Year Review for Leelanau & Grand Traverse

2026 Home Sales Data - Mid Year Review for
Leelanau & Grand Traverse County

The Leelanau County real estate market posted another strong performance during the first half of 2026, with 151 homes sold between January 1 and June 30, up from 130 sales during the same period in 2025. Overall sales volume increased from $110.4 million to $141.6 million, reflecting continued demand for homes throughout Leelanau County. The average sale price climbed to $937,506, an increase of more than 10% year over year, highlighting the strength of the area's luxury and waterfront markets. While the median home price dipped slightly to $640,000 from $662,500, home values remain among the highest in Northern Michigan. Whether you're considering buying or selling a home in Leelanau County, Suttons Bay, Lake Leelanau, Leland, Glen Arbor, Northport, or the surrounding communities, understanding local market trends is essential for making informed real estate decisions. As a local Leelanau County Realtor, I provide expert market analysis, neighborhood insights, and personalized guidance to help buyers and sellers successfully navigate today's competitive market.

Jonathan Oltersdorf
Oltersdorf Realty LLC
231-218-0509
Oltersdorf.com

The Grand Traverse County real estate market saw a shift during the first half of 2026, with 571 homes sold between January 1 and June 30 compared to 652 sales during the same period in 2025. While overall sales volume declined from $335.1 million to $277.4 million, the median home price increased to $420,000, reflecting continued demand for well-priced homes in the Traverse City housing market. The average sale price decreased to $485,836, suggesting fewer high-end luxury transactions influenced the market. Whether you're considering buying or selling a home in Grand Traverse County, Traverse City, or the surrounding Northern Michigan communities, understanding current market trends is essential for making informed real estate decisions. As a local Traverse City Realtor serving Grand Traverse County and neighboring areas, I provide in-depth market analysis, neighborhood insights, and expert guidance to help clients successfully navigate today's changing market.
Jonathan Oltersdorf
Oltersdorf Realty LLC
231-218-0509
Oltersdorf.com

7877 E Bernadette Drive, Suttons Bay - SOLD

SOLD SUTTONS BAY VACANT ACREAGE + POLE BARN

SOLD by Oltersdorf Realty LLC on 7/7/2026
$309,000
JUST SOLD in Suttons Bay | $309,000 Ask Price – 7877 E Bernadette Drive, Suttons Bay, MI - 10.32 Acre Vacant Lot with a pole barn, RV connections, electrical, spring fed creek, and approved septic location. Located on the east side of South Lake Leelanau between Suttons Bay & Traverse City! Buyer Agent -> Jonathan Oltersdorf, Oltersdorf Realty.

2171 N Belanger Creek Drive, Suttons Bay - SOLD

SOLD SUTTONS BAY CREEKSIDE VACANT PARCEL

LISTING SOLD by Oltersdorf Realty LLC on 6/23/2026
$198,500 – 2171 N Belanger Creek Drive, Suttons Bay, MI – 2.05 Acre Creekside Building Site!

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.

10829 N Shore Drive, Northport – SOLD

SOLD NORTHPORT OCTAGON HOME

LISTED & SOLD by Oltersdorf Realty LLC on 5/15/2026
$425,000 - 10829 N Shore Dr, Northport, MI – Unique Octagon Home on 1.61 Acres in the Village of Northport!

Tucked away in a quiet location at the northern edge of the Village of Northport, this unique Octagon one level house offers a rare price point for one of Leelanau County’s most desirable communities. Just a quick ¾ 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  ~1.61 acres of land with a meandering creek at the rear of the property. This one of a kind 2-bedroom + den, 2-bath home offers approximately 1,275 square feet of living space, large front deck, rear screened-in porch, and municipal sewer/water. The oversized 3+ car Octagon detached garage was built as the same footprint of the house at 1,275 sq ft.  Whether you're looking for a year-round home, a vacation getaway, or an investment with upside, this one checks all the boxes. Perfect for creatives, designers, or anyone tired of boxy living! 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.  

1564 N West Bay Shore Drive, Suttons Bay, MI – SOLD

SOLD SUTTONS BAY WATERFRONT HOME

LISTED & SOLD by Oltersdorf Realty LLC on 5/15/2026
1564 N West Bay Shore Drive, Suttons Bay, MI – 3 Bedroom Ranch with 275’ on Suttons Bay!
$2,350,000

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!

3784 S Lee Point Road, Suttons Bay – NEW LISTING

Rarely available, this south-facing private frontage on West Grand Traverse Bay offers 200’ of some of the finest sandy-bottom shoreline in all of Northern Michigan! A turnkey ranch home, equally suited for year-round living or as a seasonal vacation escape, features easy single-level living with 2 bedrooms and 2 baths, set on 1.29 acres. Enjoy an expansive waterside deck and a detached garage with a framed upper level, ready to be finished for additional living space with Instagram worthy water views and a covered private balcony. The soft, sandy bottom beach is truly picture-perfect, ideal for swimming, boating, and bonfires - framed by sweeping views of Power Island and the crystal-clear turquoise waters of West Grand Traverse Bay. Lee Point Road sits in a highly sought after location just minutes from the vibrant, year-round Village of Suttons Bay and only 15 minutes to downtown Traverse City!

11.31 Acres – E Smiseth Road, Suttons Bay – NEW LISTING

Exceptionally rare large-acreage parcel within the Village of Suttons Bay, backing directly to 20 acres of Village-owned parkland. One of only a handful of remaining Village properties of this size, this 11.31-acre wooded setting features a variety of building sites and rolling terrain that rises to a scenic elevated ridgeline with seasonal water views. No deed restrictions! Create your own private trail system and connect seamlessly to Bahle Park—offering year-round recreation with direct access to the Village through Bahle Park by foot, snowshoes, or even skis, right from your backyard. Wildlife is abundant, and a small creek meanders along the western boundary, enhancing the natural setting. A rare opportunity to secure a true legacy property with exceptional privacy, all less than 1 mile from downtown Suttons Bay!

Click here for more info on this new listing!

7196 S West Bay Shore Drive, Traverse City – NEW LISTING

Perfectly positioned along scenic M-22 at the midway point between Traverse City and Suttons Bay, this beautifully maintained and thoughtfully updated home is truly move-in ready - simply unpack and enjoy an idyllic Leelanau County summer! The 3-bedroom, two-story layout features a comfortable main-floor living room, updated kitchen with quartz countertops & updated appliances, and a bright rear-facing family room overlooking a spacious backyard. An unfinished basement offers excellent potential to expand your finished living space affordably. Step outside to a professionally designed landscape with level terrain, underground irrigation, immaculate gardens, a stone patio, and mature trees. The showstopper: a one-of-a-kind golf putting green framed by greenside bunkers - perfect for any golf enthusiast. Towering pines in the front yard create a natural buffer and year-round privacy. Notable recent updates include shingles & siding (2018), main-level flooring (2018), and upper-level windows (2022), along with many more updates! A whole-home Generac generator adds peace of mind in every season. Altogether, this property delivers comfortable living, thoughtful updates, and exceptional outdoor spaces in a highly desirable Leelanau County location! Short Term Rentals allowed with township permit!

Click here for more info on this new listing!

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.

CLICK HERE FOR MORE INFO ON THIS NEW LISTING!

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!

CLICK HERE FOR MORE INFO ON THIS NEW LISTING!

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!

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:

  1. Low turnover: Many homeowners are locked into historically low interest rates and won’t sell unless they have to.

  2. Limited new construction: Zoning, land constraints, and infrastructure limit large-scale development.

  3. Second-home demand: Leelanau County continues to attract out-of-area buyers seeking lifestyle properties.

  4. 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