2023 Grand Traverse County Year-End Home Sales Data

2023 Grand Traverse County Year-End Home Sales Data
(click photos below to enlarge)

Explore the 2023 Grand Traverse County (Traverse City) home sales data, comparing prices, volumes, and trends with the previous years. Discover insights on median pricing, average sale prices, and the overall real estate market in the region.

Explore the comprehensive 2023 year-end (January 1 – December 31) home sales figures for Grand Traverse County in the charts above. Compare real estate housing sales in the county from January 1, 2023, to December 31, 2023, with the corresponding periods in 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015, and 2014, covering townships such as Acme, Blair, East Bay, Fife Lake, Garfield, Grant, Green Lake, Long Lake, Mayfield, Paradise, Peninsula, Union, Whitewater, and the City of Traverse City.

Key 2023 Grand Traverse County Home Sales Statistics:

  • Home Sales Units Sold: -10.95% decrease (attributed to a lack of inventory)

  • Volume Sold: -3.44% decrease

  • Average Sales Price: +8.43% increase

  • Median Sales Price: +8.22% increase

This comprehensive report relies on sales data extracted from the Northern Michigan Realtors MLS spanning from 2004 to 2023. Please note that undisclosed sales and fractional ownership details are excluded. The information provided is intended for basic review purposes, with all efforts made for accuracy, though it cannot be guaranteed.

For further inquiries, contact Jonathan Oltersdorf at Oltersdorf Realty, LLC:

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

Leelanau County Home Sales Report 2023: Record Highs and Trends Revealed

Leelanau County Home Sales Report 2023: Record Highs and Trends Revealed

(click photos below to enlarge)

Explore the 2023 Leelanau County home sales data, comparing prices, volumes, and trends with the previous years. Discover insights on median pricing, average sale prices, and the overall real estate market in the region.

In the charts above, we present the comprehensive 2023 year-end home sales data (January 1 – December 31) for Leelanau County. This analysis compares real estate housing sales in the county during 2023 to the corresponding periods in 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015, and 2014, focusing on townships such as Bingham, Centerville, Cleveland, Elmwood, Empire, Glen Arbor, Kasson, Leelanau, Leland, Solon, Suttons Bay, and the City of Traverse City situated in the southeast corner of Leelanau County.

Leelanau County's residential home sales in 2023 continued to break new ground, achieving all-time record highs in median pricing. However, it's noteworthy that the average sale price witnessed a slight decline, primarily influenced by a decrease in luxury property sales. The key statistics for Leelanau County Home Sales in 2023 are as follows:

  • Average Price: Decreased by -3.81%

  • Median Price: Increased by +5.84%

  • Sales Volume: Increased by +2.81%

  • Units Sold: Increased by +6.89%

This comprehensive report is derived from sales information gathered from the Northern Michigan Realtors MLS spanning the years 2004 to 2023. The data excludes undisclosed sales and fractional ownership, ensuring transparency and accuracy. Please note that this report is intended for basic review purposes, and while every effort has been made for accuracy, it cannot be guaranteed.

For further inquiries or detailed information, feel free to reach out to Jonathan Oltersdorf of Oltersdorf Realty, LLC at 231-271-7777 or via email at jonathan@oltersdorf.com. Stay informed about the dynamic Leelanau County real estate market with our insights and analysis.

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/

Current Mortgage Rates - January 2024

Annual Average 30 Year Fixed-Rate Mortgage Rates

After historically low mortgage rates in 2021 it was not a surprise to see mortgage rates rise in 2022 as the fed fought inflation and the 10 year treasury rates increased throughout the year. However, it was very much a surprise to see mortgage rates in Leelanau County and throughout the nation climb to as high as almost 8% at one point in 2023 before declining slightly to end the year. We finished 2023 with a monthly average mortgage rate of about 6.81% which was the highest since 2006!

Monthly data dating back to 1971 can be found here: http://www.freddiemac.com/pmms/

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.

15383 Dunn Drive, Traverse City - SOLD

JUST SOLD on Old Mission Peninsula! 😍 Buyer's Agents --> Vicky Oltersdorf & Jonathan Oltersdorf. Asking Price: $3,400,000 | 15383 Dunn Drive, Traverse City, MI - 5 Bedroom, 5 Bath, 5,572 sq ft new custom home built in 2023 with 102' of western facing frontage on West Grand Traverse Bay! Listing photos courtesy of listing agent Ann Porter.

Leelanau Vacant Land Inventory Update - Fall 2023

12/1/2023 Leelanau County Vacant Land Inventory UPDATE! Although home inventory increased a small amount this year, vacant land inventory in Leelanau County remains at it's lowest level in 20+ years with just 120 available parcels on the market compared to 500+ parcels for sale in the summer of 2020 and nearly 1,000 parcels for sale during the summer of 2014!

Leelanau Home Inventory Update - Fall 2023

11/29/23 Leelanau County Home Inventory UPDATE! Good news, inventory actually increased in 2023!!! Throughout 2016-2020 we saw between 325-450 active houses on the market in the peak of summer, that number dropped to just 125 during the summer of 2021 and the summer of 2022 but INCREASED to about 175 available houses during the summer of 2023. This summer we went from 1-2 months up to 2-3 months of inventory of residential real estate in Leelanau County. Months of inventory is the relationship of sales pace to the number of properties currently on the market if no additional homes were added to the supply. Most economist agree that 6 months of inventory is a balanced market, less is a Seller’s market, and more than 6 months is a Buyer’s market. Note: The data is only for Leelanau County.

1093 S Peck Road, Suttons Bay – SOLD

SOLD SUTTONS BAY HOME

LISTING SOLD by Oltersdorf Realty LLC on 11/28/2023
1093 S Peck Road, Suttons Bay, MI – 3 Bedroom & 3 Bath Home Close to Downtown Suttons Bay!
$480,000

Wonderful location in Suttons Bay Township, situated just outside of the Village limits but only 1.2 miles to Downtown Suttons Bay! This 3 bedroom, 3 bath, wood sided year-round home offers a large main floor living room with a gas fireplace, cozy main floor rear family room addition with a gas stove, main floor primary bedroom with a private bath, main floor laundry, newer singles, and has been treasured by the same family since 1968! Step outside to an attached 240 sq ft workshop, detached oversized 30x24 garage, private rear deck, circulating pond, and a spacious 1.01 acre wooded lot on a low traffic road. New shingles in 2020 and a new septic system installed in 2019! An ideal setting for your year-round home, vacation home, or investment rental property in beautiful Leelanau County!

320 S Shabwasung Street, Northport – SOLD

SOLD NORTHPORT AFFORDABLE HOME

LISTING SOLD by Oltersdorf Realty LLC on 11/3/2023
320 S Shabwasung Street, Northport, MI – Affordable Fixer-Upper within the Village of Northport!
$198,500

Escape to the charming coastal Village of Northport with this cozy bungalow offered at a rare price point for this vibrant community! Whether you're seeking an owner-occupied residence, a vacation retreat, or an investment property, this home offers a unique opportunity you won't want to miss. Northport is a quaint, artistic coastal Village located along the shores of Grand Traverse Bay at the Northern tip of scenic Leelanau County and your gateway to boating, fishing, outdoor and lakeside enjoyment. Situated just steps from the Community Center and the Village waterfront park, entertainment, a swimming pool, shopping, library, restaurants, bakery, marina, schools and convenience! This cozy 2-bedroom, 1-bath bungalow offers 598 sq ft of living space, municipal water, and sewer (assessment paid in full). Relax and unwind in the enclosed back porch perfect for enjoying morning coffee or evening breezes.  This home is being sold in "as-is" condition, offering the perfect canvas for your vision. Great potential for those looking to invest in a thriving community and to own a piece of Leelanau County charm!

111 S Shore Drive, Suttons Bay – SOLD

SOLD SUTTONS BAY WATERFRONT HOME

LISTING SOLD by Oltersdorf Realty LLC on 10/25/2023
111 S Shore Drive, Suttons Bay, MI – Village of Suttons Bay Waterfront Home
$1,250,000

Introducing a remarkable waterfront property located within the charming year-round village of Suttons Bay! This exceptional parcel features 180 feet of private, hard sandy bottom direct water frontage on highly sought-after Suttons Bay – an ideal spot for swimming and boating! This one-level home offers 1,878 finished sq ft, including 3 bedrooms and 2 baths. The living room features a cozy fireplace, while a large kitchen with informal dining awaits those who have a passion for cooking and entertaining. A four-season sun porch/family room and a dining area with a second fireplace provide ample space for relaxation and hosting friends and family. Additional features include a heated and finished 2+ car attached garage, central A/C, and recent updates such as a new gas forced air furnace, all new attic insulation, and a newly landscaped yard. The low-maintenance vinyl-sided exterior, municipal water and sewer, and high-speed internet, offer convenience. A newer storage building is perfect for housing all of your water toys, and you'll love the ever-changing views and all the bay activities just steps from your door. This property is ideally situated for those who want to keep their boat on their private waterfrontage within a protected bay, and recently installed shoreline protection adds piece of mind. Located on a quiet dead-end village-maintained roadway, just a short walk from quaint shopping, quality restaurants, theater, library, marina, and so much more! Don't miss this rare opportunity to own your piece of Leelanau County paradise!

3692 Delta Drive, Traverse City - SOLD

SOLD TRAVERSE CITY RANCH HOME

SOLD by Oltersdorf Realty LLC on 10/18/2023
3692 Delta Drive, Traverse City, MI. 4 Bedroom, 3 Bath, 2,592 sq ft walkout ranch in Grand Traverse County!
$399,900 (Ask Price)

Recently sold by Jonathan Oltersdorf (Buyer's Agent) | $399,900 Ask Price | 3692 Delta Drive, Traverse City, MI. 4 Bedroom, 3 Bath, 2,592 sq ft walkout ranch in Grand Traverse County! Photo courtesy of listing agent Jenn Frankhouse, Re/Max Bayshore.

1758 S Cherry Blossom Lane, Suttons Bay – SOLD

SOLD SUTTONS BAY WATER VIEW HOME

LISTING SOLD by Oltersdorf Realty LLC on 10/23/2023
1758 S Cherry Blossom Lane, Suttons Bay, MI – Water View Home with 700’ Shared Frontage on Grand Traverse Bay!
$669,000

Enjoy West Bay views and shared sandy beach frontage with this beautifully appointed home offering an open great room with skylights and vaulted wood T&G ceilings, hickory wood flooring, a cozy gas stove, wonderful built-ins, and an open kitchen with newer quartz countertops, stainless steel appliances, and natural wood cabinetry. This home can be enjoyed as a year-round primary home or vacation retreat with over 2,230 sq. ft. of finished living area, 3 bedrooms, loft and office/den, 2.5 baths, and a 2 car heated attached garage! Additional features include 4 panel solid wood doors, Andersen and Pella windows and doors, hardwood and ceramic tile flooring, central A/C and lovely Bay views within the home and from the large wrap around front deck! The mature woods surrounding the home's wonderful yard enhance its sense of privacy. Wonderful area of quality homes offering 700’ of shared West Bay frontage and paved county maintained low-traffic roads located just 20 minutes from downtown Traverse City!

8054 S W Bay Shore Drive, Traverse City – SOLD

SOLD TRAVERSE CITY WATERFRONT HOME

LISTING SOLD by Oltersdorf Realty LLC on 10/10/2023
8054 S W Bay Shore Drive, Traverse City, MI – Home with 100’ of Sandy Frontage on West Grand Traverse Bay!
$661,000

100 feet of private West Grand Traverse Bay sandy water frontage! Conveniently located just 6 miles north of Traverse City this attractive 3 bedroom, 1.75 bath home features wonderful unobstructed West Bay views, ~1,867 sq ft of finished living area, a large living room with a brick gas fireplace, main floor laundry, 562 sq ft lower level family room with large windows, additional 700 sq ft of unfinished basement/storage space, 2 car finished attached garage, storage shed, sprinkler system, low maintenance vinyl and brick exterior, and a Generac Generator.  The oversized 0.54 acre parcel not only offers private water frontage but also a spacious fenced rear yard with generous privacy and a 365 sq ft composite deck perfect for outdoor gatherings!

13801 E Ingalls Bay Road, Omena – NEW LISTING

Discover this exquisite custom home boasting high-quality finishes and breathtaking western facing sunset water views across Ingalls Bay! The kitchen is a chef's dream, featuring quality extra-tall cherry cabinetry, top-of-the-line KitchenAid stainless steel appliances, Quartz countertops, and new ceramic tile backsplash added in 2021. The open great room is adorned with large windows and a stone-accented natural fireplace and impressive cathedral ceilings offering ever-changing scenery and panoramic bay views. Additional impeccable details include a main floor master bedroom with private access to the waterside deck, main floor laundry, elegant oak flooring, solid custom wood 2-panel interior doors, and built-ins throughout which add to the home's charm. Step outside onto the magnificent 1,000+ sq. ft. waterside composite deck or within the 16'x10' screened-in porch for your morning coffee or an evening of entertaining friends and family. The cedar-sided exterior, cedar shake accents, and Tongue & Groove cedar finished soffits enhance the home's timeless appeal. This property offers convenience and functionality with its finished 2.5 car attached garage, and an additional spacious workshop prepped with a gas line and a half bath with a utility sink. A partial basement with a cement crawl space houses the mechanical systems. For outdoor enthusiasts, there's a prepped outdoor shower on the side of the home and a backup gas generator for peace of mind. The thoughtfully designed floor plan even allows for a potential addition, making it ideal for those looking for more space in the future. This fantastic Omena property is suitable for year-round living or as a luxurious 2nd home retreat!

2247 S Richter Road, Suttons Bay – SOLD

SOLD SUTTONS BAY HOME

LISTED & SOLD by Oltersdorf Realty LLC on 9/22/2023
2247 S Richter Road, Suttons Bay, MI – 3 Bedroom & 2 Bath Home Located on the Leelanau Bike Trail!

Leelanau Trail bike access directly out your front door! Nestled just 1.5 miles south of the year-round Village of Suttons Bay this 1.75 story, 3 bedroom, 2 bath home offers a living room with vaulted ceilings, spacious main level master bedroom, open kitchen/living room/dining room with hardwood flooring, partially finished walkout lower level with a finished family room and gas fireplace/stove, central a/c, back-up generator hook-up, 2.5 car attached garage, and a large wood deck.  Situated on a private 1.86 acre wooded lot on a low traffic road, an ideal setting for your year-round home, vacation home, or investment rental property in beautiful Leelanau County!