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
