Leelanau County Home Prices vs the S&P 500 (2010–2025): Real Estate as a Long-Term Investment

February 2, 2026

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.