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 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/

6339 E Horn Road, Lake Leelanau – SOLD

SOLD EAST LELAND FARMHOUSE ON ACREAGE

LISTING SOLD by Oltersdorf Realty LLC on 9/3/2024
6339 E Horn Road, Lake Leelanau, MI – 2,440 Sq Ft Farmhouse + 47 Acres in East Leland!  
$990,000 - Asking Price

A nature lover’s paradise! This 3 bedroom, 2,440 sq ft farmhouse is located on a sprawling ~47 acre wildlife sanctuary containing a variety of hardwoods, wooded wetlands, bubbling springs & streams, dry agricultural land, orchards, 2-3 ft deep seasonal pond fed by underground springs, and various areas of reforestation projects! Step inside to the 1886 era farmhouse which features 3 large bedrooms, 1.5 baths, a cozy wood burning stove, spacious kitchen & dining areas, natural gas generator, gas forced air furnace, 29.6’ x 21’ attached 2+ car garage, plentiful attic & basement storage, and solar panels that have resulted in a negative electric bill for the owners. Approximately 40 acres of this extremely unique property has been placed in conservancy ensuring its natural beauty will remain intact in perpetuity. The ~7.38 acres around the house are unencumbered and separate from conservation easement to be used according to the owners wishes and local zoning laws. See maps and conservation easement attached. Situated in a one-of-a-kind location in East Leland, directly across the street from public waterfront access on North Lake Leelanau!

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/

2023 Current Lake Michigan Water Levels

2023 Current Lake Michigan Water Levels

Lake Michigan Water Levels Down -7 Inches in 12 Months

For the 3rd 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 -7 inches lower compared to this time in 2022 and -32 inches lower than this time in 2020! January 2020 - July 2020 saw record high water levels on Lake Michigan.

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 14, 2022.  

January 13, 2023                   578.87 feet

Difference from January 13, 2022: -7 inches

Difference from long term average: +5 inches

Difference from highest monthly average (2020): -32 inches

Difference from lowest monthly average (2013): +34 inches

Projected change in levels by Feb 13, 2023:  -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/

2022 Current Lake Michigan Water Levels

2022 Current Lake Michigan Water Levels

Lake Michigan Water Levels Down -26 Inches in 24 Months

For the 2nd 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 -18 inches lower compared to this time in 2021 and -26 inches lower than this time in 2020! January 2020 - July 2020 saw record high water levels on Lake Michigan.

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 14, 2022.  

January 14, 2022                   579.43 feet

Difference from January 14, 2021: -18 inches

Difference from long term average: +12 inches

Difference from highest monthly average (2020): -26 inches

Difference from lowest monthly average (2013): +41 inches

Projected change in levels by Feb 14, 2022:  -1 inches

Click here to open/download the full report for the current month:
http://lre-wm.usace.army.mil/reports/GreatLakes/GLWL-CurrentMonth-Feet.pdf

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/

2021 Current Lake Michigan Water Levels

2021 Current Lake Michigan Water Levels

Some good news for many waterfront property owners on Lake Michigan as the most recent readings indicate that water levels are now -7 inches lower compared to this time last year. January 2020 - July 2020 saw record high water levels on Lake Michigan.

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 15, 2021.  

January 15, 2021                   580.97 feet

Difference from January 15, 2020: -7 inches
Difference from long term average: +31 inches
Difference from highest monthly average (1987): -4 inches
Difference from lowest monthly average (2013): +59 inches
Projected change in levels by Feb 15, 2021: -1 inches

Click here to open/download the full report for the current month:
http://lre-wm.usace.army.mil/reports/GreatLakes/GLWL-CurrentMonth-Feet.pdf

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/

4382 N Manitou Trail, Leland – SOLD

SOLD NORTH LAKE LEELANAU WATERFRONT LOT

LISTING SOLD by Oltersdorf Realty LLC on 10/2/2020
4382 N Manitou Trail, Leland, MI – Vacant 100’ Parcel on N Lake Leelanau + Additional Water View Lot

Asking Price: $495,000

A rare find!  This beautiful North Lake Leelanau direct waterfront building site is ready for construction of your Leland dream home! Features include sunrise water views, sandy waterfrontage, and ideal topography for a walkout home design.  As an added bonus this wonderful package includes a 2nd wooded building site with water views located directly across the road! Soil testing has been completed for a pump back septic system and a site plan survey indicates a ~2,150 sq ft waterfront building envelope. Ideal location ~2 miles north of Leland’s charming community with access at the road to natural gas, electric, and cable/internet for both lots!

1356 N Manitou Trail, Leland - SOLD

SOLD NORTH LAKE LEELANAU WATERFRONT HOME

SOLD by Oltersdorf Realty LLC on 7/10/2020
1356 N Manitou Trail, Leland, MI - Home with 103’ on North Lake Leelanau
Asking Price: $769,600

2,030 sq ft, 3 bedrooms, 1.5 bath with 103’ of direct sandy bottom private frontage on desirable North Lake Leelanau in central Leelanau County!

2020 Current Lake Michigan Water Levels

2020 Current Lake Michigan Water Levels

If you are 5’6” or shorter and stood at the water’s edge of Lake Michigan in 2013 and then stood in the exact same spot this week, your entire head would now be completely underwater. Water levels are now +66” above the record low levels of 2013.

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 17, 2020.  

January 17, 2020                   581.53 feet

Difference from January 17, 2019                             +18 inches
Difference from long term average:                          +37 inches
Difference from highest monthly average (1987):  +3 inches
Difference from lowest monthly average (2013):    +66 inches
Projected change in levels by Feb 17, 2020:           -1 inches

Click here to open/download the full report for the current month:
http://lre-wm.usace.army.mil/reports/GreatLakes/GLWL-CurrentMonth-Feet.pdf

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/

4388 N Manitou Trail, Leland. – SOLD

SOLD NORTH LAKE LEELANAU WATERFRONT COTTAGE

LISTING SOLD by Oltersdorf Realty LLC on 10/31/2019
4388 N Manitou Trail, Leland, MI – Cottage & 100’ on North Lake Leelanau
Asking Price: $595,000

This charming traditional Leland cottage offers panoramic sunrise water views and 100’ of rarely available private direct sandy walk out sandy water frontage on North Lake Leelanau at this price point!! Features include: Water views throughout, an open great room with a natural fireplace, main level family room, knotty pine interior, hardwood flooring, new carpeting 2019, ~ 2,070 sq ft, 4 bedrooms, 2 baths, 3 season enclosed porch, 1 car garage. This perfect shoreline with a gentle slope to the water’s edge is located just 2 miles north of the Village of Leland and just a short walk to Clay Cliffs Natural Area! This parcel will include a recorded easement location for installation of a future drain field on the parcel across the road.

121 Grand Ave, Leland – SOLD

SOLD DOWNTOWN LELAND HOME

LISTING SOLD by Oltersdorf Realty LLC on 7/27/2019
121 Grand Avenue, Leland, MI - Charming Newly Finished Downtown Leland Home
Asking Price: $329,000

This charming 1300 sq ft Leland Village home offers a relaxing open floor plan featuring cathedral ceilings, hardwood flooring, maple cabinetry, stainless steel appliances, 2 bedrooms and 2 full baths, attached garage, and a full unfinished basement with a large egress window and potential for additional future living area. Excellent location within a few blocks of the beautiful sandy shores of Lake Michigan & North Lake Leelanau, Leland Harbor & Marina, Leland Country Club, and this wonderful coastal community offering colorful shopping, delightful dining, and attractive homes!

4388 N Manitou Trail, Leland – SOLD

SOLD NORTH LAKE LEELANAU WATERFRONT HOME

SOLD by Oltersdorf Realty LLC on 4/9/2019
4388 N Manitou Trail, Leland, MI – Cottage & 200’ on North Lake Leelanau
Asking Price: $895,000

Rare opportunity to purchase 200’ on North Lake Leelanau just minutes from downtown Leland! This large 1.01 acre lot features 2 waterfront building sites and another building site across the road perfect for a large family compound.

5+ Acres N Manitou Trail, Leland – SOLD

SOLD LELAND VACANT PARCEL

 LISTING SOLD by Oltersdorf Realty LLC on 9/5/2018
N Manitou Trail, Leland, MI - 5.40 Acres & 50' of Shared Water Access on North Lake Leelanau
Asking Price: $129,000

5+ Acres with North Lake Leelanau Shared Water Access! This beautifully rolling and wooded rarely found large acreage parcel located just 1.3 miles north of charming downtown Leland offers complete privacy, rolling topography, hardwoods & pine foliage, and shared waterfront access on North Lake Leelanau ideal for boating and swimming. A perfect location to build your Leelanau County year-round dream home or vacation retreat. Paved county maintained roadway, utilities to the lot, and within desirable Leland School district! Property survey and approved soil evaluation on file.

409 S Main Street Unit #4, Leland – SOLD

SOLD LELAND CONDOMINIUM

LISTING SOLD by Oltersdorf Realty LLC on 4/25/2018
409 S Main Street Unit #4, Leland, MI – Leland Condominium & Boat Slip
Asking Price: $349,000

Spectacular fully remodeled Leland condominium that includes a private boat slip directly on the Leland River with quick boating access to North Lake Leelanau and located just a few blocks to Fishtown & Lake Michigan beaches! The stunning maintenance free condominium features a living room with oak wide plank flooring, brick wood burning fireplace, and Pella windows offering River views. The completely new kitchen offers rustic cherry cabinets with Reeded glass cabinet door inserts, Antique Labrador granite countertops, high end stainless steel appliances, tile backsplash & flooring, a custom restored 1930’s Detroit streetlight, and the stylish bathroom includes a low step walk-in tiled shower with River Rock floor, glass doors, Kohler fixtures, and marble countertop. Every detail has been thought of in this recent remodel making this condominium entirely move-in ready!

2016 Leelanau County Home Sales: January to September

The 2017 3rd quarter (January 1 – September 30) home sales data have been posted in the charts above. The home sales statistics compare real estate housing sold in Leelanau County from January 1, 2017 through September 30, 2017 to the same time period in 2016, 2015, 2014, 2013, 2012, and 2011. This includes the townships of Bingham, Centerville, Cleveland, Elmwood, Empire, Glen Arbor, Kasson, Leelanau, Leland, Solon, Suttons Bay, and the City of Traverse City within the southeast corner of Leelanau County.

2017 Leelanau County Home Sales Volume has increased a +11.29% compared to this time last year and total houses sold has increased +7.04% over last year. Average sales price has increased +3.97% and Median Sales Price has increased +0.16%.

This report is based upon sales information obtained from the Northern Great Lakes Realtors MLS from 2011-2017. Undisclosed sales are not included in the data. This is for basic review purposes only. All attempts for accuracy have been made but cannot be guaranteed.

Jonathan Oltersdorf, Oltersdorf Realty, LLC
Phone: 231-271-7777
E-mail: jonathan@oltersdorf.com

3911 N Hareld Drive, Lake Leelanau – SOLD

SOLD NORTH LAKE LEELANAU WATER VIEW PARCEL

LISTED & SOLD by Oltersdorf Realty LLC on 8/2/2017
3911 N Hereld Drive, Lake Leelanau, MI - Vacant Parcel with Elevated Sunset North Lake Leelanau Views
Asking Price: $155,000

Western facing North Lake Leelanau panoramic water views are enjoyed from this slightly elevated East Leland 1+ acre vacant parcel.  A wonderful combination of woods and open sloping topography affords privacy within a quiet setting accessed by a private roadway close to North Lake Leelanau waterfront access.  Property corners have been marked and an approved soil evaluation from the Leelanau County Environmental Health Department is available.

2017 Leelanau County Home Sales: January - June

The 2017 2nd quarter (January 1 – June 30) home sales data have been posted in the charts above. The home sales statistics compare real estate housing sold in Leelanau County from January 1, 2017 through June 30, 2017 to the same time period in 2016, 2015, 2014, 2013, 2012, and 2011. This includes the townships of Bingham, Centerville, Cleveland, Elmwood, Empire, Glen Arbor, Kasson, Leelanau, Leland, Solon, Suttons Bay, and the City of Traverse City within the southeast corner of Leelanau County.

2017 Leelanau County Home Sales Volume has increased a +14.96% compared to this time last year and total houses sold has increased +5.43% over last year. Average sales price has increased +9.03% and Median Sales Price has increased +0.72%.

This report is based upon sales information obtained from the Northern Great Lakes Realtors MLS from 2011-2017. Undisclosed sales are not included in the data. This is for basic review purposes only. All attempts for accuracy have been made but cannot be guaranteed.

Jonathan Oltersdorf, Oltersdorf Realty, LLC
Phone: 231-271-7777
E-mail: jonathan@oltersdorf.com

7251 E Alpers Road, Lake Leelanau - SOLD

SOLD LAKE LEELANAU FARMHOUSE

LISTING SOLD by Oltersdorf Realty LLC on 7/11//2017
7251 E Alpers Road, Lake Leelanau, MI – Historic 1865 Centennial Inn
Asking Price: $419,000

This charming and historic 1865 Centennial Inn (former B&B) located within Leland Township features an inviting living room with a brick and wood accented fireplace, large country kitchen and dining room, hardwood flooring, 4 bedrooms & 2 baths, a covered front porch, private rear deck and side patio, and 4 unique barns/guest cabins dating back to 1853.   A beautiful 2.5 acre tranquil countryside setting ideal for year round living or a vacation retreat within minutes of Leland, North Lake Leelanau public access, and Lake Michigan!

110 W Terrace Lane Commons, Leland - SOLD

SOLD LELAND HOME

LISTING SOLD by Oltersdorf Realty LLC on 4/21/2017
110 W Terrace Lane Commons, Leland, MI - Leland Home Close to Downtown
Asking Price: $387,500

This quality constructed 2000+ sq ft cedar sided, metal roofed home is within 3 blocks of Lake Michigan access in Leland and offers an open great room with cherry kitchen cabinetry, maple flooring, tiger mapleand cherry accents, vaulted ceilings,3 bedrooms, family room/guest suite, 3 baths, and a 3 car attached garage. Step outside and enjoy a peaceful fenced private rear yard, large entertaining deck, and rear yard covered porch! Within walking & biking distance to restaurants, shops, beach access, and the Leland Harbor!