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

2026 Current Lake Michigan Water Levels

2026 Current Lake Michigan Water Levels

Lake Michigan Water Levels Down -7 Inches in Past 12 Months

After several years of historically high levels, Lake Michigan water levels are finally trending downward in 2026. According to the latest data, water levels in Lake Michigan and Grand Traverse Bay have dropped 7 inches compared to this time last year and are now 17 inches lower than two years ago.

This shift is closely watched by Lake Michigan waterfront property owners, especially those in Leelanau County and Grand Traverse County, as changing lake levels directly impact shoreline conditions, erosion, docks, and long-term property planning.

Official Lake Michigan Water Level Data (January 9, 2026)

Water level data is collected and published by the U.S. Army Corps of Engineers, the official source for current and historical Great Lakes water levels.

  • Date of Reading: January 9, 2026

  • Current Lake Michigan Water Level: 577.5 feet

Lake Michigan Water Level Comparisons

  • Change from January 9, 2025: –7 inches

  • Difference from Long-Term Average: –12 inches

  • Difference from Highest Monthly Average (2020): –49 inches

  • Difference from Lowest Monthly Average (2013): +17 inches

Lake Michigan Water Level Projection

  • Projected Change by February 10, 2026: –1 inch

What This Means for Waterfront Property Owners

Lower water levels can reduce erosion pressure but may expose shoreline, affect dock usability, and change beach conditions—especially along Lake Michigan and Grand Traverse Bay waterfront properties. For buyers and sellers, water level trends are now becoming a bigger conversation point than they’ve been in recent years.

Short version: the lake is coming back toward normal. Slowly. No panic. No headlines. Just physics doing its thing.

For more information on current & past historic records regarding the Great Lakes Water Levels please visit: https://water.usace.army.mil/office/lre/docs/weekly/weekly.pdf

Tags Lake Michigan, Waterfront, Water Levels, Leelanau County, Grand Traverse County, West Grand Traverse Bay, Suttons Bay, Northport, Leland, Omena, Glen Arbor, Empire, Traverse City

710 N Dockside Circle, Unit F-2, Suttons Bay – SOLD

SOLD SUTTONS BAY WATERFRONT CONDO

LISTING SOLD by Oltersdorf Realty LLC on 9/19/2025
$1,000,000 Ask Price - 710 N Dockside Circle, Unit F-2, Suttons Bay, MI – Direct Waterfront Condominium in the Village of Suttons Bay!

This beautiful direct waterfront turn-key condominium offers panoramic water views, shared lake frontage, a private marina, and is within walking distance or a short bike ride to Downtown Suttons Bay! With over 2,160 sq. ft. of living space, the open floor plan showcases expansive Bay views throughout, the living and dining rooms are centered around a two-sided gas fireplace and a waterside balcony which overlooks the marina, while the island kitchen features granite countertops, quality cabinetry, and wood flooring. The large primary suite includes a private bath with both a shower and tub, water views, and a spacious walk-in closet. The versatile lower-level cabana is accessed by a private interior staircase and features a family room/fourth bedroom and ¾ bath that walks out to the marina and your own waterside patio. This second-floor unit with a private staircase to the main floor cabana offers the best layout in the complex which includes a coveted side-by-side private two-car garage. The exterior features stone and cement board siding, energy-efficient construction, and access to first-class amenities including an indoor swimming pool, tennis/pickleball court, outdoor hot tub, elevators, and the option to lease a boat slip just steps from your door. Located within the charming Village of Suttons Bay and just a short walk to restaurants, library, theatre, shopping, and adjacent to the Leelanau Bike Trail! Sold fully furnished except for a small list of excluded personal items. This is truly a boater’s paradise! Boat slip use is optional and may be purchased or leased. Slip info: https://www.bayviewmarinasb.com

1955 N Blue Water Court, Suttons Bay - NEW LISTING

Affordable 1.16-acre building site in a well-planned centrally located Leelanau County development! Situated just minutes from Suttons Bay and Lake Michigan access, this quiet neighborhood on a private dead end road includes 31 acres of common space and peaceful countryside views. Added value comes with lower township tax rates, underground electric, cable and high-speed internet, plus a shared propane and drainfield system already installed - saving you time and money. Reasonable restrictions on this lot (lot #2) allow for outbuildings and only require a 1,600 finished sq ft home above grade, giving you flexibility without unnecessary costs. Perfect topography for a walkout home!

3182 S Candace Lane, Lake Leelanau – SOLD

SOLD LAKE LEELANAU RANCH HOME

LISTING SOLD by Oltersdorf Realty LLC on 6/9/2025
$750,000 - 3182 S Candace Lane, Lake Leelanau, MI –3,300 sq ft Walkout Ranch + 24’x24’ Detached Garage!

Gorgeous Kitchen Remodel & Exceptional Garage Space in a Secluded Setting! Discover this desirable walkout ranch, offering the one-level living layout you’ve been searching for! With 3 bedrooms, 3 baths, and 3,300 finished sq ft, the heart of the home is the gorgeous, high-end kitchen, fully remodeled in 2022 with stunning quartz countertops, a stylish tile backsplash, and custom cabinetry—a true entertainer’s dream! The open-concept great room features vaulted ceilings, hardwood floors, and a cozy gas fireplace, making it the perfect space to relax or host gatherings. The spacious main floor primary suite offers a walk-in closet and a glass-tiled shower, while the main floor laundry adds everyday convenience. Step outside to enjoy the huge wraparound deck, ideal for soaking in the abundant wildlife and gardens on this 2.18-acre wooded property, tucked away at the end of a quiet cul-de-sac. Downstairs, the walkout lower-level features even more space with a family room, gas fireplace, bathroom, and wet bar - great for entertaining! But the real bonus? Garage and storage galore! Along with unfinished basement storage space and the attached 2-car garage, there’s an additional 24’ x 24’ detached garage - perfect for all your toys, tools, or workshop needs. With natural gas, cable internet, a Generac generator, and an unbeatable location - just 5 miles from Suttons Bay and 13 miles from Traverse City - this home is a rare find. Don’t miss out on this private hideaway with top-tier Leelanau amenities nearby!

1564 N West Bay Shore Drive, Suttons Bay – SOLD

SOLD SUTTONS BAY WATERFRONT HOME

LISTED & SOLD by Oltersdorf Realty LLC on 5/23/2025
1564 N West Bay Shore Drive, Suttons Bay, MI – 3 Bedroom Ranch with 275’ on Suttons Bay!
$2,020,000 Ask Price - SOLD OVER ASKING

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!

10155 E Shady Lane, Suttons Bay – SOLD

SOLD SUTTONS BAY HOME

LISTING SOLD by Oltersdorf Realty LLC on 3/7/2025
10155 E Shady Lane, Suttons Bay, MI – 5 Bedrooms, 2.5 Baths, & 2,175 Sq Ft on 2.50 Acres!
$624,500 Ask Price

Step into this immaculately maintained home, offering 5 bedrooms - including a main floor master suite, 2.5 baths, and 2,175 finished square feet. This property also features an unfinished walkout lower level, a finished 2.5+ car attached garage, and a large detached garage, all situated on a 2.50-acre parcel that includes an additional adjoining lot! Upon entering through the front door, you'll be welcomed by a living room with soaring cathedral ceilings and a cozy natural gas fireplace. The kitchen features Hickory cabinetry, newer appliances, and ample counter space, while the formal dining room provides direct access to an oversized wraparound deck. The main floor also offers a convenient laundry room, a half bath, and a spacious master suite complete with a walk-in closet. The upper level includes 4 additional bedrooms and a full bathroom with a tub. The unfinished walkout lower level, with its 8’9” ceilings, is plumbed for a future bathroom and offers abundant storage space. Step outside to enjoy the 2.50-acre property, which features an adjacent additional parcel and a 24’x28’ detached garage surrounded by mature trees. Plus, the home received new shingles in November 2024! Conveniently located in Bingham Township, just 9 miles from Downtown Traverse City and 6 miles from the Village of Suttons Bay, this property offers privacy on a paved county-maintained road. No HOA here!

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/

12100 E Spinnaker Lane, Suttons Bay – SOLD

SOLD SUTTONS BAY WATER VIEW HOME

LISTED & SOLD by Oltersdorf Realty LLC on 10/23/2024
12100 E Spinnaker Lane, Suttons Bay MI – 4 Bedroom & 4 Bath Home with Incredible Bay Views!  
$1,300,000 Ask Price

Enjoy year-round, elevated panoramic views of West Bay and Power Island from this incredible 4-bedroom, 4-bath, 4,787+ sq ft custom home located on the sought-after Stony Point Peninsula in Leelanau County! Beautifully crafted inside and out, this immaculate home features abundant natural light, high-end finishes, spacious living and family rooms with gas fireplaces, a main-level all-season sunroom and bedroom, a recently updated & efficiently designed kitchen, and two expansive master bedroom suites, each with a gas fireplace. Use one suite as a comfortable, isolated in-home office or as a private guest apartment. The thoughtfully finished walkout lower level offers West Bay views, a family room, bedroom, and full bath. Additional features include a remodeled main floor laundry room, plentiful storage areas, two furnaces and A/C units, a finished 3-car attached garage, 4 fireplaces, a natural gas generator, and a stunning new 700+ sq ft composite deck expanding the living/entertaining area outside to enjoy the scenic water and countryside views in all directions! Situated in a private and convenient location on a quiet, low-traffic, county-maintained paved road in "The Points" development, this home is only 3 miles away from the charming year-round Village of Suttons Bay and just a short 15-minute drive to downtown Traverse City. An amazing, ideal year-round or vacation home!

6308 S Grapevine Trail, Suttons Bay – SOLD

SOLD SUTTONS BAY HOME

LISTING SOLD by Oltersdorf Realty LLC on 7/22/2024
6308 S Grapevine Trail, Suttons Bay, MI – 4 Bedroom, 3.5 Bath, 3,400 Sq Ft Home Located on the Leelanau Bike Trail!
$795,000 - Asking Price

Leelanau Trail bike access directly out your front door! Situated on a large 3.72 acre parcel surrounded by beautiful vineyards and cherry orchards, this immaculately maintained 4 bedroom, 3.5 bath newer home built in 2016 features over 3,400 sq ft of finished living space! Step inside to a main floor with hardwood floors throughout, a light & bright open floor plan offering a roomy living room with plentiful natural light, custom built-ins, and a cozy wood burning fireplace. The island kitchen has granite countertops and plenty of storage space, countryside views, tile backsplash, and an enormous pantry. The main floor den is currently being used as an office but could be converted to a main floor bedroom if desired. Upstairs you will find a large master suite with a private bath, 2 more bedrooms with a hall bath, large laundry room, and a 450 sq ft bonus room above the garage. Downstairs features a family room with a wet bar, new vinyl flooring throughout, a full bathroom, and an additional bedroom. Step outside to a heated garage, a charming covered front porch with tongue & groove wood ceilings, spacious yard, and a rear fire pit backing to orchards. Convenient location just 10 miles from Downtown Traverse City, between Suttons Bay & Traverse City. No HOA here but there is a road maintenance agreement. A long list of upgrades to the house have been made in the past few years, check it out!

706 N Dockside Circle, Unit D-2, Suttons Bay – SOLD

SOLD SUTTONS BAY WATERFRONT CONDOMINIUM

LISTING SOLD by Oltersdorf Realty LLC on 7/8/2024
706 N Dockside Circle, Unit D-2, Suttons Bay, MI – Direct Waterfront Condominium in the Village of Suttons Bay!
$950,000 - Asking Price

A Boaters Paradise!  This beautifully appointed Suttons Bay direct waterfront condominium offers 180 degree panoramic waterfront views and shared water frontage with a private marina and features stone and cement board siding, energy efficient construction, an indoor swimming pool, tennis/pickle ball court, outdoor hot tub, elevators, and use of a 40’ boat slip right out your door for 2024!  With over 2160 sq. ft. of living area this year-round condominium offers a wonderful open floor plan with expansive water views throughout, living and dining rooms enjoying a gas two sided fireplace, quality cherry cabinetry, island kitchen with granite countertops, wood and ceramic tile flooring, large master suite with a private bath and walk-in closet, four spacious bedrooms, main level private balcony, lower level family room/fourth bedroom which walks out to the marina and your private waterside patio,  and a coveted private 2 car garage!  All within the charming Village of Suttons Bay and a short walk to restaurants, library, theatre, shopping, and the Bike Trail!

Lots 12 & 13 – N Evgor Pt, Suttons Bay – SOLD

SOLD SUTTONS BAY WATER VIEW LOT

LISTING SOLD by Oltersdorf Realty LLC on 4/26/2024
Lots 12 & 13 – N Evgor Pt, Suttons Bay, MI – 4.50 Acre Water View Lot
$375,000

Introducing an extraordinary one-of-a-kind 4.50 acre building site that offers incredible year-round elevated panoramic water views of Suttons Bay & Stony Point Peninsula! Situated in a premier private location at the very end of a quiet cul-de-sac, this lot is tucked away up high surrounded by newer homes within the "Bayscape Hills" development. Features include underground natural gas, electric, high-speed cable internet/tv connections, and a soil evaluation is on file, indicating suitability for a traditional on-site septic system. With reasonable building requirements of 1,500 minimum sq ft (see full restrictions attached), you have the freedom to build a residence that perfectly suits your requirements. Conveniently located a mere 3 miles away from the charming year-round Village of Suttons Bay, this perfect building site grants you the blend of privacy, acreage, and gorgeous elevated bay views!

746 N Deer Path Trail #9, Suttons Bay – SOLD

SOLD SUTTONS BAY CONDOMINIUM

LISTING SOLD by Oltersdorf Realty LLC on 4/25/2024
746 N Deer Path Trail #9, Suttons Bay, MI – Village of Suttons Bay Condominium
$595,000

Spacious 4 bedroom, 3 bath Village of Suttons Bay 2 story condominium offering 1,975 sq feet of finished living area, master suite with a private bath and partial/seasonal Bay views, open living room with a cozy gas fireplace, main floor den/bedroom that could be converted to a main floor primary bedroom with direct bath access, main floor laundry, newer main floor Pella windows, heated attached garage, large waterside deck, and a professionally installed crawl space vapor barrier system. Fantastic association amenities include: 1200' of beautiful shared sandy beach frontage, clubhouse, swimming pool, hot tub, potential for private marina slip lease, tennis/pickleball courts, and direct access to the Leelanau Trail. All within walking distance of downtown Suttons Bay and its popular restaurants, shopping, library, theatre, and so much more! Ready for you to move-in before the summer!

11677 E Belanger Woods Drive, Suttons Bay – SOLD

SOLD SUTTONS BAY VACANT LOT

LISTING SOLD by Oltersdorf Realty LLC on 3/4/2024
11677 E Belanger Creek Drive, Suttons Bay, MI – Vacant 1.79 Acre Lot with Direct Pond Frontage
$70,000

Direct pond frontage and partial Bay views provide a wonderful setting to design your Leelanau County dream home! Located within 3 miles of the year-round Village of Suttons Bay this exciting development offers private 1 to 3 acre parcels, 8.5 acres of common open space, a paved private road, 2100 ft of Belanger Creek frontage, and underground utilities including natural gas and cable high speed internet.

11255 E Fort Road, Unit D-1, Suttons Bay – SOLD

SOLD SUTTONS BAY YORK CONDO

LISTING SOLD by Oltersdorf Realty LLC on 1/25/2024
11255 E Fort Road, Unit D-1, Suttons Bay, MI – 3 Bedroom, 2 Bath York Condominium
Asking Price: $279,000

Wonderful location! This 3 bedroom, 2 bath end unit York Condominium offers an open living room and kitchen/dining with hickory wood floors and newer appliances, main floor bedroom & main floor full bath, natural gas forced air heat with A/C, and a finished walk out lower level with laminate maintenance free flooring throughout, 2 bedrooms and a 2nd full bath!  Shared amenities include an in-ground swimming pool, trails, tennis court, and a shared well & septic.  Low maintenance living in a very convenient location just 10-15 minutes from Downtown Traverse City! Association fee ($300/month) covers exterior building maintenance, lawn care, snow removal, garbage, shared septic & well. This is an end unit in the D building (4th building from Fort Road) which offers a quiet location within the 44 acre complex. New shingles to be installed in 2024/2025, assessment of $6,000 will be paid in full by the Seller at the closing of the sale with an acceptable offer.

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/

2114 N Belanger Creek Drive, Suttons Bay - SOLD

Direct pond frontage and partial Bay views provide a wonderful setting to design your Leelanau County dream home! Located within 3 miles of the year-round Village of Suttons Bay this exciting development offers very private 1 to 3 acre parcels, 8.5 acres of common open space, a paved private road, 2100 ft of Belanger Creek frontage, and underground utilities including natural gas and cable high speed internet.