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

Lot 6 – N Indian Camp Road, Northport – SOLD

SOLD GRAND TRAVERSE BAY WATERFORNT LOT

LISTING SOLD by Oltersdorf Realty LLC on 11/19/2025
$720,000 – Lot 6 – N Indian Camp Road, Northport, MI – Vacant Parcel with 104’ of Direct Frontage on Grand Traverse Bay!  

Dreaming of a peaceful waterfront location to build your vacation retreat or forever home in Leelanau County? Hitting the market for the first time since 1961, this ~1.18-acre vacant parcel offers 104 feet of private, direct frontage on Grand Traverse Bay—complete with unique views of Gull Island. The land is level, untouched, adorned with mature towering trees, and is accessed by a private dead-end road. A recently completed soil evaluation (perc test) confirms suitability for a traditional on-site septic system. High-speed fiber internet was installed along the road in spring 2025. With no known deed restrictions, you’ve got the freedom to bring your vision to life. Situated just 2.5 miles south of the charming Village of Northport and within a short drive of all the amenities of Traverse City! Vacant building sites on Grand Traverse Bay are becoming quite hard to find, don’t miss out on this one!

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!

Lot 134 – N Cherrywood Ct, Northport – SOLD.

SOLD AFFORDABLE NORTHPORT VACANT LOT

LISTING SOLD by Oltersdorf Realty LLC on 8/22/2025
$29,000 Lot 134 – N Cherrywood Ct, Northport, MI – Vacant Parcel within 1400’ of Sandy Grand Traverse Bay Access!

Nice location tucked away on a quiet cul-de-sac within Cherry Home Shores! This beautiful, 0.26 acre affordable wooded building site offers level terrain, perc test/site survey showing suitable conditions for a septic system and is situated just ~1400 feet from sandy beach access on Grand Traverse Bay! Cherry Homes association amenities include hiking trails, 4 waterfront parks with shared access to Grand Traverse Bay, clubhouse with tennis/basketball courts, playground, and dues of only $65/year! No short-term rentals are allowed. All association info can be found at: https://cherryhomeshores.com/

Lot 69 – E Cherry Park Drive, Northport – SOLD

SOLD NORTHPORT VACANT LOT

SOLD by Oltersdorf Realty LLC on 5/29/2025
$40,000 – Lot 69 – E Cherry Park Drive, Northport, Northport, MI – Vacant Parcel within 1300’ of Sandy Grand Traverse Bay Access!

Nice location tucked away on a quiet street within Cherry Home Shores! This beautiful, 0.36 acre affordable wooded building site offers easy level terrain, perc test/site survey showing suitable conditions for a septic system and is situated just ~1300 feet from sandy beach access on Grand Traverse Bay! Cherry Homes association amenities include hiking trails, 4 waterfront parks with shared access to Grand Traverse Bay, clubhouse with tennis/basketball courts, playground, and dues of only $65/year! No short-term rentals are allowed. All association info can be found at: https://cherryhomeshores.com/

24.07 Acres – E Valley Road, Maple City – SOLD

SOLD MAPLE CITY VACANT ACREAGE

LISTING SOLD by Oltersdorf Realty LLC on 11/1/2024
E Valley Road, Maple City, MI – Vacant 24.07 acre parcel offering rolling hardwoods and no restrictions!
$268,000

Beautiful 24.07-acre wooded parcel, offering rolling terrain, majestic hardwoods, and complete freedom without deed restrictions. Several building locations are possible, near the road for easy access, or create a secluded retreat nestled deeper into the mid-point of the property on a ridge overlooking your own peaceful valley. This amazing parcel offers endless possibilities for outdoor recreation, including prime hunting land, just in time for the season. Situated on a paved county road in the heart of Leelanau County, this convenient location is just 13 miles from vibrant Downtown Traverse City and only 2.5 miles from the charming small towns of Maple City and Cedar. You’ll also be within 15 miles of the picturesque towns of Empire and Glen Arbor. Positioned on the south side of E Valley Road, this property is located just west of 1241 E Valley Road (between S Tower Road and S Kasben Road). A completed perc test/site survey confirm suitable soils for an on-site septic system.

9.70 Acres – E Wood How Lane, Northport - SOLD

SOLD NORTHPORT ACREAGE

LISTED & SOLD by Oltersdorf Realty LLC on 9/16/2024
9.70 Acres – E Wood How Lane, Northport, MI – Beautiful wooded building site at the northern end of Leelanau County!
$180,000

This quiet and tranquil 9.70 acre mature wooded parcel provides unmatched privacy with the convenience of a county-maintained roadway and enjoys flat and rolling terrain ideal for building a new home with a walk out basement! Newly installed Fiber Optics line has just been installed on E Wood How Lane. Soil tests by LCHD have been completed and on file for installation of a Septic System.  Natural gas is available on N Lighthouse Point Road. Wonderful area of quality homes just 6 miles north of the Village of Northport and nearby numerous Lake Michigan beaches, and hiking trails! The parcel backs to lots within the Cherry Homes Development, an adjoining vacant lot and home within Cherry Homes Development is currently available (mls 1924231). 

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!

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.

10642 Shrewbury Street, Traverse City – SOLD.

SOLD TRAVERSE CITY MORGAN FARMS LOT

LISTING SOLD by Oltersdorf Realty LLC on 8/29/2023
10642 Shrewbury Street, Traverse City, MI – Vacant Building Site in Morgan Farms
Asking Price: $85,000

Wonderful building site within the popular Morgan Farms Development located just minutes from Downtown Traverse City at the edge of Leelanau County! This cleared mostly parcel has a gentle slope up from the road which offers a variety of easy building options, is situated in a quiet location within a short walk/bike ride to the TART Trail, Hickory Meadows trail access, and the beaches & amenities of Downtown Traverse City! The association features underground utilities, private roads, and municipal sewer/water. Bring your builder and begin construction of your new Traverse City dream home!

2155 N Belanger Creek Drive, Suttons Bay – SOLD

SOLD SUTTONS BAY WATER VIEW LOT

LISTED & SOLD by Oltersdorf Realty LLC on 7/31/2023
2155 N Belanger Creek Drive, Suttons Bay, MI – Vacant 1.32 Acre Bay View Lot
Asking Price: $79,900

A nice 1.32 acre parcel in a convenient and quiet location just 3 miles north of the year-round Village of Suttons Bay. This wonderful partially wooded building site offers beautiful bay views and shared creek frontage on Belanger Creek! Belanger Creek Development features 8.5 acres of common open space, paved private roads, and underground utilities including natural gas, cable, and much more! Gently sloping topography offers various building options including the potential for a ranch walkout, ready for construction of your Leelanau County dream home!

Lot 3 – E Spinnaker Lane, Suttons Bay – SOLD

SOLD SUTTONS BAY WATER VIEW LOT

LISTED & SOLD by Oltersdorf Realty LLC on 7/27/2023
Lot 3 - E Spinnaker Lane, Suttons Bay, MI – 1.20 Acre Water View Lot
Asking Price: $130,000

This Suttons Bay building site, situated on the sought-after Stony Point Peninsula, boasts wonderful water views of West Grand Traverse Bay and Old Mission Peninsula. Nestled in a convenient location within "The Points" development on a county maintained road, this parcel is only 3 miles away from the charming year-round Village of Suttons Bay and Traverse City is a mere 15-minute drive away. This lot comes equipped with access to underground natural gas & high speed cable internet/tv, a soil evaluation is on file to show the suitability for traditional on-site septic.  The low HOA dues of $225/year cover the upkeep of this development and reasonable building restrictions are in place (1,800 finished sq ft minimum excluding basements). While the views from the ground level are impressive year-round, they could be simply stunning from a future second story. Please note that tree trimming is allowed only to enhance the water view of co-owners, and neighbor’s vegetation cannot obstruct the water view of any co-owner. Take advantage of this opportunity to build your Leelanau County dream home on this remarkable property!

Lot 4 – W Oak Hill Trail, Maple City – SOLD

SOLD DAVIS LAKE WATERFRONT LOT

LISTING SOLD by Oltersdorf Realty LLC on 7/12/2023
Lot 4 – W Oak Hill Trail, Maple City, MI – 10 Acre Parcel with 187’ of Direct Frontage on Davis Lake!
Asking Price: $236,900

Looking for a serene location to build your dream home or vacation property in Leelanau County? Look no further than this 10-acre wooded property with 187 feet of private direct frontage on Davis Lake! Enjoy southwest facing views and a gently sloping topography that leads down to the water. The property boasts mixed hardwoods, frontage on both Maple City Road and peaceful Davis Lake, and has plenty of room to build your detached outbuilding. Conveniently located halfway between Traverse City and Sleeping Bear Dunes National Lakeshore, this property offers the perfect balance of seclusion and accessibility. High-speed Spectrum cable internet and TV, as well as underground electric, are available at the lot. Plus, a soil evaluation is on file to show the suitability for traditional on-site septic. No known deed restrictions against short term rentals (see zoning and restrictions attached - buyer to verify all details). While Davis Lake's restrictions prohibit water skiing and jet skiing, the 30-acre lake has a depth of 40’ at its deepest point offers a public launch site and plenty of opportunities for kayaking, fishing, and so much more. Don't miss out on the chance to build your Leelanau County dream home, 2nd home, or vacation rental on this beautiful property!