2025–2026 Leelanau County Home Inventory: Why Low Supply Is Still Defining the Market

2025–2026 Leelanau County Home Inventory:
Why Low Supply Is Still Defining the Market

By Jonathan Oltersdorf, Leelanau County Realtor

Leelanau County’s real estate market continues to be defined by one word: scarcity.

As of January 29, 2026, there are just 55 available (non pending) homes for sale in the entire county, translating to roughly a ±2-month supply of inventory. To put that in perspective, a balanced real estate market typically sits closer to 5–6 months of supply. Leelanau County isn’t even in the same zip code as balanced in the winter months.

A Long-Term Look at Leelanau County Housing Inventory

The chart above shows Leelanau County home inventory trends from 2010 through early 2026, highlighting both summer peaks and winter lows. The contrast is stark:

  • 2009–2011: Inventory ranged from a 2–3 year supply, driven by the Great Recession.

  • 2012–2019: Gradual tightening, but still seasonal and manageable.

  • 2020–Present: A structural shift to historically low inventory levels post Covid.

Even during peak summer seasons in recent years, the county has struggled to exceed a 6-month supply, and winter inventory routinely collapses into ultra-low territory.

What a ±2 Month Supply Really Means

A ±2 month supply isn’t just “low”—it’s seller-dominant territory.

In practical terms, this means:

  • Well-priced homes sell quickly

  • Buyers face limited choices

  • Multiple-offer situations remain common in desirable locations

  • Pricing stays firm, even when interest rates fluctuate

Low inventory also explains why Leelanau County home values have remained resilient while other markets across the country experience softening.

Why Inventory Hasn’t Rebounded

Contrary to popular belief, this isn’t just a post-COVID hangover. Several long-term factors are keeping inventory tight:

  1. Low turnover: Many homeowners are locked into historically low interest rates and won’t sell unless they have to.

  2. Limited new construction: Zoning, land constraints, and infrastructure limit large-scale development.

  3. Second-home demand: Leelanau County continues to attract out-of-area buyers seeking lifestyle properties.

  4. Strong cash presence: Cash buyers reduce reliance on financing cycles, stabilizing demand.

What This Means for Buyers in 2026

For buyers, today’s market requires strategy, patience, and local expertise. Waiting for a flood of inventory hasn’t worked—and history suggests it may not.

Smart buyers are:

  • Watching micro-markets (neighborhoods, townships, waterfront vs inland)

  • Acting decisively when the right property appears

  • Understanding realistic pricing instead of relying on national headlines

What This Means for Sellers

If you’ve considered selling but assumed the market “must have cooled,” the inventory numbers tell a different story.

With only 55 active listings county-wide, sellers who price correctly still benefit from:

  • Limited competition

  • Strong buyer demand

  • Shorter days on market relative to national averages

The Bottom Line on Leelanau County Housing Inventory

Leelanau County is no longer cycling between “hot” and “cold” markets—it has entered a low-inventory era. Seasonal fluctuations still exist, but the overall supply trend remains historically tight.

If you’re buying or selling in Suttons Bay, Leland, Glen Arbor, Northport, or anywhere in Leelanau County, decisions today should be based on local inventory data, not national real estate narratives.

About the Author

Jonathan Oltersdorf is a Leelanau County Realtor with Oltersdorf Realty, specializing in residential homes, waterfront properties, and vacant land throughout Leelanau County and Northern Michigan. Jonathan provides clear, data-driven market analysis to help buyers and sellers make confident real estate decisions. Jonathan is a lifelong Leelanau County local that attended Suttons Bay Schools.

Based on data provided by Northern Great Lakes REALTORS® MLS. Reliable but not guaranteed. Fractional ownership excluded.

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

What and Where Leelanau County Homebuyers Purchased in 2025

What and Where Leelanau County Homebuyers Purchased in 2025

A Data-Driven Look at Buyer Preferences and Sales Volume

Leelanau County real estate in 2025 told a clear story: buyers were selective, values remained strong, and demand extended well beyond just waterfront trophy homes. By analyzing MLS sales data from 2025, we can break down what types of homes buyers purchased and which townships captured the most sales volume across the county.

If you’re thinking about buying or selling in Leelanau County, this data matters—because it shows where buyers actually put their money.

What Leelanau County Homebuyers Bought in 2025

In 2025, 375 residential properties closed across Leelanau County. The breakdown of what buyers purchased highlights a surprisingly diversified market.

🏡 2025 Leelanau County Homebuyer Property Types

  • 44% – Other Residential Homes
    (Primary residences, inland homes, village properties, and non-waterfront single-family homes)

  • 21% – Waterfront Homes
    Still highly desirable, but no longer dominating the market like they did during the pandemic surge.

  • 13% – Condominiums
    Low-maintenance living continues to attract second-home buyers, retirees, and investors.

  • 12% – Water View Homes
    Buyers are clearly willing to trade direct frontage for views—at a more approachable price point.

  • 10% – Homes on 5+ Acres
    Privacy, woods, and elbow room remain in demand, especially among full-time residents.

Key Takeaway

Despite Leelanau County’s reputation for luxury waterfront real estate, nearly half of all buyers purchased “non-waterfront” homes. The market in 2025 rewarded flexibility—not just shoreline.

Where Buyers Spent Their Money in Leelanau County

Looking at sales volume by township gives us a clearer picture of where demand—and pricing power—was strongest.

💰 Leelanau County 2025 Residential Sales Volume by Township

Township Sales Volume
Elmwood Township $47,986,600
Leland Township $45,496,000
Suttons Bay Township $45,377,414
Leelanau Township $42,652,569
Bingham Township $38,312,000
Glen Arbor Township $33,305,260
Empire Township $23,406,880
Centerville Township $13,092,197
Kasson Township $11,954,900
Solon Township $11,638,300
Cleveland $7,427,150
City of Traverse City $5,754,500

Township Market Insights

  • Elmwood Township led the county in total sales volume, benefiting from proximity to Traverse City, newer housing stock, and strong year-round demand.

  • Leland, Suttons Bay, and Leelanau Townships formed a tight cluster just behind Elmwood—proof that village-based living and water access remain powerful drivers.

  • Glen Arbor and Empire continued to perform well despite limited inventory, reinforcing long-term value in west-side Leelanau.

  • Lower-volume townships like Centerville, Kasson, and Solon still recorded meaningful sales, often appealing to buyers prioritizing land, privacy, or price.

What This Means for Buyers and Sellers in 2026

The 2025 Leelanau County housing market wasn’t one-note. Buyers spread their purchases across property types, price points, and townships, proving the market is both resilient and nuanced.

If You’re a Buyer:

  • You don’t need waterfront to be competitive or to see long-term value.

  • Condos and inland homes remain strong entry points.

  • Location, not just frontage, is driving appreciation.

If You’re a Seller:

  • Pricing correctly matters more than ever.

  • Non-waterfront homes still command serious attention when marketed right.

  • Data-backed pricing beats “testing the market” every time.

Final Thoughts on Leelanau County Real Estate in 2025

Leelanau County continues to attract a wide range of buyers—from full-time residents to second-home owners—who value lifestyle, location, and long-term stability. The 2025 data shows a healthy market grounded in demand, not hype.

If you want a hyper-local breakdown of your specific township, price range, or property type, that’s where real insight happens.

Based on data provided by Northern Great Lakes REALTORS® MLS. Reliable but not guaranteed. Fractional ownership excluded.

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

Leelanau County Home Sales 2025: How 375 Buyers Purchased—Cash vs Financing

Leelanau County Single Family Home Sales 2025:
How 375 Buyers Purchased - Cash vs Financing

2025 Leelanau County Homebuyers: Cash vs. Financing Trends Explained

If you’re buying or selling real estate in Leelanau County, one question to keep an eye on in today’s market:

Are buyers paying cash, or are they financing?

The short answer for 2025: both—but financing is back in the driver’s seat.

2025 Leelanau County Home Sales Breakdown

Based on data from the Northern Great Lakes Realtors MLS, here’s how 375 total sales in Leelanau County in 2025 break down:

  • 55% Financing

  • 45% Cash Purchases

That’s a meaningful shift, especially when compared to 2024, when 44% of sales were cash and 2023 when 50% of sales were cash. Cash buyers didn’t disappear—but financed buyers are clearly reasserting themselves.

In other words:
💰 Cash is still powerful.
🏦 But mortgages are very much back in play.

What’s Driving Financing Back Into the Market?

1. Interest Rates Have Stabilized

The average 30-year fixed mortgage rate in 2025 is approximately 6.60%. While that’s higher than pandemic-era lows, buyers have adjusted expectations. The shock is gone. Normal decision-making has returned.

Translation: buyers aren’t waiting for “perfect” rates anymore. They’re moving forward.

2. Pent-Up Buyer Demand

Many financed buyers sat on the sidelines in 2023–2024, especially first-time and move-up buyers. By 2025, lifestyle needs (schools, downsizing, second homes) are outweighing rate anxiety.

People still need houses—even in Northern Michigan.

3. Leelanau County’s Buyer Pool Is Evolving

Leelanau County continues to attract:

  • Primary-residence buyers and 2nd home buyers

  • Professionals relocating from downstate

  • Buyers selling higher-priced homes elsewhere and financing strategically

Not every buyer wants to pay cash—even if they could.

What This Means for Sellers in Leelanau County

Cash offers still matter—but they’re no longer the whole story.

If you’re selling:

  • Expect a broader buyer pool

  • Well-priced homes will attract both cash and financed buyers

  • Clean listings, realistic pricing, and strong negotiation matter more than “cash only” thinking

Sellers who automatically dismiss financed buyers in 2025 may leave money—or better terms—on the table.

What This Means for Buyers

If you’re financing a home purchase in Leelanau County, here’s the good news:

  • You are not the minority

  • Sellers are increasingly open to financed offers

  • Strong pre-approvals and clean terms matter more than rate obsession

Cash buyers still have leverage—but financed buyers are competing successfully every day.

Bottom Line: A Healthier, More Balanced Market

The 2025 Leelanau County real estate market shows signs of normalization:

  • Financing dominates at 55% of sales

  • Cash remains strong at 45%

  • Total sales increased to 375 transactions

  • Buyers and sellers are adapting—not freezing

This balance is exactly what a sustainable market looks like.

If you’re thinking about buying or selling in Leelanau County or Traverse City, understanding how buyers are purchasing is just as important as knowing what homes are selling for.

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

Where did 2025 Leelanau County Homebuyers Come From?

Where did 2025 Leelanau County
Homebuyers Come From?

Understanding where Leelanau County homebuyers are coming from is key to understanding market demand, pricing pressure, and future trends. Based on Northern Great Lakes Realtors® MLS data, the visuals above tell a clear story: Leelanau County real estate is no longer a mostly local market — it’s a regional and national one.

Below is a breakdown of what the data shows and why it matters if you’re thinking about buying or selling property in Leelanau County.

Leelanau County Buyers: A National Footprint

The heat map shows buyer zip codes spread across the entire United States, with heavy concentrations in:

  • Michigan (especially Southeast Michigan)

  • Illinois (Chicago metro area)

  • Ohio, Indiana, and Wisconsin

  • Secondary pockets along the East Coast, Texas, Florida, and the West Coast

This confirms what many sellers already feel during showings: Leelanau County attracts out-of-area buyers who are willing to travel, compete, and pay for lifestyle.

Northern Michigan is no longer a secret — it’s a destination.

Local Buyers Are Shrinking as a Share of the Market

The bar chart highlights a long-term trend that matters a lot.

Percent of Buyers From Leelanau or Grand Traverse County:

  • 2014: 63.0%

  • 2016: 61.6%

  • 2018: 56.5%

  • 2020: 53.0%

  • 2021: 48.3%

  • 2023: 44.1%

  • 2024: 40.0%

  • 2025: 43.0%

While 2025 shows a small rebound, the big picture is clear: local buyers now represent less than half of the market.

This shift has major implications:

  • More cash buyers

  • Fewer contingency-driven offers

  • Stronger demand for waterfront, second homes, and short-term rental-capable properties

2025 Buyer Breakdown: The Numbers

  • 375 total buyers in 2025

  • 43% from Leelanau or Grand Traverse County

  • 57% from outside the local area

Each dot on the Michigan map represents a unique buyer zip code from 2025, reinforcing how geographically diverse demand has become.

This isn’t just tourism interest — these are people putting capital into Leelanau County real estate.

Why This Matters for Sellers

If you’re selling a home or land in Leelanau County, this data should shape your strategy.

Out-of-area buyers:

  • Rely heavily on online listings, photos, video, and data

  • Are more emotional about lifestyle and views than price-per-square-foot

  • Often make faster decisions

That means:

  • Professional marketing matters

  • Overpricing gets exposed quickly

  • Unique properties perform best when positioned correctly

The market rewards sellers who understand who the buyer actually is.

What This Means for Buyers

If you’re a local buyer, the competition isn’t your neighbor — it’s often someone from:

  • Metro Detroit

  • Chicago

  • Cincinnati or Columbus

  • Out-of-state buyers seeking second homes or retirement properties

Winning in this market often requires:

  • Strong financing or cash

  • Clean offers

  • Decisiveness

Understanding buyer origins helps explain why well-priced homes move quickly — even in shifting market conditions.

The Big Picture: Leelanau County Is a Lifestyle Market

The takeaway is simple:

Leelanau County is no longer driven primarily by local demand. It’s driven by lifestyle migration, remote work flexibility, and long-term wealth preservation.

That’s a fundamentally different market than it was 10 years ago — and it’s why smart pricing, timing, and strategy matter more than ever.

Data based on information provided by 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

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

2025 Grand Traverse County Real Estate Market Report: Year-End Home Sales Data & Trends

2025 Grand Traverse County Real Estate Market Report: Year-End Home Sales Data & Trends

2025 Traverse City Real Estate Market Report: Key Statistics and Trends in Grand Traverse County

Traverse City, nestled along the stunning shores of Grand Traverse Bay in Michigan, continues to be a sought-after destination for homebuyers seeking a blend of natural beauty, outdoor recreation, and vibrant community life. As we move through 2026, the 2025 residential real estate data for Grand Traverse County provides valuable insights for buyers, sellers, and investors.

Based on data from the Northern Great Lakes Realtors MLS (compiled by Oltersdorf Realty), the market showed signs of recovery in sales activity despite slight price corrections.

Overview of 2025 Grand Traverse County Home Sales Statistics

In 2025, Grand Traverse County's residential real estate market demonstrated resilience. While home prices experienced minor declines from 2024 peaks, the number of units sold and overall sales volume rebounded notably.

Year-over-Year Changes (2024 to 2025):

  • Average Sale Price: $528,032 → $519,434 (-1.63%)
  • Median Sale Price: $420,000 → $405,223 (-3.52%)
  • Sales Volume: ~$698M → $749,023,516 (+7.46%)
  • Units Sold: 1,320 → 1,442 (+9.24%)

Data excludes fractional ownership and is based on reliable MLS sources.

Compared to Michigan statewide trends (median home price up 4.7% to $267,600 in late 2025) and national figures (U.S. median existing-home price up 1.7% to $414,400), Grand Traverse County prices remain significantly higher, reflecting its premium lakeside location.

Residential Units Sold: A Strong Rebound

Units sold increased 9.24% from 1,320 in 2024 to 1,442 in 2025 — the strongest annual sales volume since 2021.

10-Year Trend (2016–2025):

  • 2016: 1,741
  • 2017: 1,639
  • 2018: 1,639
  • 2019: 1,805 (peak)
  • 2020: 1,713
  • 2021: 1,732
  • 2022: 1,470
  • 2023: 1,311
  • 2024: 1,320
  • 2025: 1,442

This uptick suggests growing buyer confidence and increased market activity in Northern Michigan.

Total Sales Volume: Healthy Growth

Total residential sales volume reached $749,023,516 in 2025, a solid +7.46% increase from 2024 — despite the modest price softening.

Higher transaction volume more than offset the slight decline in average and median prices.

Average & Median Home Prices: Slight Cooling

  • Average Sale Price 2025: $519,434 (-1.63% from 2024)
  • Median Sale Price 2025: $405,223 (-3.52% from 2024)

Long-term perspective (2004–2025): Both average and median prices have more than doubled since the early 2000s, showing strong long-term appreciation even with the 2025 correction.

This slight price softening creates opportunities for buyers while the market remains fundamentally strong.

What These Trends Mean for 2026 and Beyond

The 2025 data indicates a rebalancing Traverse City housing market:

  • More homes are selling
  • Prices have moderated slightly
  • Inventory is improving regionally
  • Buyer activity is picking up

With national forecasts predicting modest price growth (2–4%) and potentially lower mortgage rates, Grand Traverse County could see continued positive momentum in 2026.

Key factors to watch:

  • Rising inventory across Michigan
  • Strong demand for lifestyle locations like Traverse City
  • Stable local economy (tourism, healthcare, remote work appeal)

Whether you're looking to buy your dream home on the bay, sell your current property, or invest in Northern Michigan real estate, 2026 appears to offer promising opportunities.

For personalized guidance on Traverse City homes, waterfront properties, or the latest Grand Traverse County market updates, contact a local expert today.

Data source: Northern Great Lakes Realtors MLS, compiled by Oltersdorf Realty. Figures are reliable but not guaranteed.

This report is based on verified MLS data from the Northern Michigan Realtors. Note that undisclosed home sales and fractional ownership transactions are excluded to maintain data accuracy.

Need Expert Real Estate Advice? Contact Jonathan Oltersdorf Today!

For personalized insights into Grand Traverse 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

Geography of Choice in 2020s America: Traverse City & Leelanau County

The Geography of Choice in 2020s America: What a Recent Domestic Migration Map Reveals — And Why Traverse City and Leelanau County, MI Are Winning Big

National Migration Hotspots and Cold Spots

  • Big winners in dark green: The Upper Rockies (+6.0% of regional population), Greater Ozarks (+3.5%), Texas Triangle (+3.5%), Southern Coastal Plain (+7.1%), and the Northwoods (+3.3% with 56,000 net new residents).

  • The map outlines the Northwoods (Laurentian Mixed Forest Province) stretching across northern Minnesota, Wisconsin, the Upper Peninsula of Michigan, and into the northern Lower Peninsula — a sparsely populated, forested region standing out with consistent green shading amid much of the rural Midwest's neutral or purple tones.

  • Major losers in purple: California (1.47 million net loss, -3.7%), the Mississippi Delta (-5.0%), and parts of the Great Plains.

The map emphasizes that migration favors scenic, nature-rich areas with lower costs and outdoor appeal — often rural or small-town spots boosted by remote work.Why the Northwoods — Including Northern Michigan — Are Attracting New Residents. The Northwoods region, including much of Northern Michigan, bucks broader Midwest trends with positive net domestic migration. This aligns with real-world data: Michigan's rural counties (especially in the northwest) saw population growth from 2020-2024 driven by domestic in-migration, offsetting natural decrease. Areas like Traverse City and surrounding counties have benefited from inflows of remote workers, retirees, and families escaping high costs, extreme heat in places like Texas/Florida, or urban pressures elsewhere.Recent reports note people moving into the Traverse City area from southern states, drawn by four-season beauty, community, and relative affordability compared to coastal hotspots.Traverse City and Leelanau County: A Prime Example of "Geography of Choice"Nestled in the heart of the Northwoods ecoregion along Lake Michigan, Traverse City, MI, and Leelanau County embody why people are choosing these areas. The region boasts stunning natural features, a thriving local economy (wine, cherries, tourism), and a peaceful lifestyle that's increasingly appealing in the 2020s.

Why Move to Traverse City or Leelanau County, MI?

  • Natural beauty — Pristine lakes, dunes, forests, and trails.

  • Quality of life — Four seasons, farm-to-table scene, wineries, and small-town vibe.

  • Migration momentum — Positive domestic inflows, especially post-2020, as people seek cooler climates and space.

  • Economic perks — Growing opportunities in tourism, remote work, and agriculture.

If you're considering a move to Northern Michigan, Traverse City and Leelanau County stand out as top destinations in America's shifting "Geography of Choice." The 2020-2024 migration map proves it: people are choosing places like ours for the lifestyle they offer.Have you noticed more out-of-state plates around town?

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!

11604 Whittington Street, Traverse City - SOLD

SOLD MORGAN FARMS WALKOUT RANCH HOME

SOLD by Oltersdorf Realty LLC on 10/27/2025
$890,000 - 11604 Whittington Street, Traverse City, MI

JUST SOLD - Buyer Agent -> Vicky Oltersdorf. $890,000 - 11604 Whittington Street, Traverse City | Stunning 4-bedroom Craftsman-style walk-out ranch in Traverse City’s coveted Morgan Farms neighborhood, featuring high-end finishes, a walk-out lower level with wet bar, premium upgrades throughout, and a private, landscaped lot backing to serene natural area just minutes from downtown!

750 Centre Place #2, Traverse City - SOLD

SOLD DOWNTOWN TRAVERSE CITY WATERFRONT CONDO

SOLD by Oltersdorf Realty LLC on 10/15/2025
$384,900 - 750 Centre Place #2, Traverse City, MI

JUST SOLD | Buyer Agent -> Jonathan Oltersdorf | 750 Centre Place #2, Traverse City, MI – Beautifully remodeled lakeside condo in the Willow Cove condo complex next to the Traverse City Library! This 2 bedroom, 2 bath, 986 sq ft condo has been beautifully renovated from top to bottom and offers a convenient downtown Traverse City location with Boardman Lake views, a private balcony, and car port.

3911 N Hareld Drive, Lake Leelanau – SOLD

SOLD NORTH LAKE LEELANAU RANCH HOUSE

LISTING SOLD by Oltersdorf Realty LLC on 10/14/2025
$1,800,000 - 3911 N Hareld Drive, Lake Leelanau, MI – Newly Built Ranch Home with Incredible Sunset Water Views & Boat Dockage on North Lake Leelanau!

Custom built in 2019, this stunning ranch lake house sits high above North Lake Leelanau, offering sweeping 180-degree sunset water views and an expansive lakeside concrete patio designed for unforgettable outdoor gatherings with family and friends! Located on a professionally landscaped 1 acre lot in desirable Leland Township, the property includes a custom permanent stairway to the water, InstaDock system with patio extension, and a solar-powered boat hoist - ideal for enjoying the “Up North” lake lifestyle. The 2,283 sq ft main level offers living/ kitchen/dining areas with 24’ tall vaulted ceilings and a beautiful stone fireplace with a 150-year-old barn wood beam mantel, hardwood and tile flooring, Cambria quartz countertops, and GE Profile appliances, The spacious main floor master suite features a curb-less walk-in shower and walk-in closet, while the 2,283 sq ft unfinished lower level offers 9’6” ceilings, egress window, and insulated walls providing for easy future expansion. Additional highlights include an oversized extra deep, insulated, and finished garage, underground sprinklers, and extensive premium landscaping.  A rare opportunity to own one of the most dramatic sunset viewpoints on North Lake Leelanau with township & road commission approved permits for permanent stairs connecting to the seasonal dock on the lake. Don’t wait……sunsets, water access, and endless Leelanau memories are calling!

7470 S Shugart Road Traverse City– SOLD

SOLD SOUTH LAKE LEELANAU RANCH HOUSE

LISTING SOLD by Oltersdorf Realty LLC on 10/2/2025
$1,399,000 - 7470 S Shugart Road, Traverse, MI – 3 Bedroom, 2.5 Bath Ranch Home on South Lake Leelanau with a Sandy Shoreline, Sunset Views, and an Extra Lot!

Step onto South Lake Leelanau’s most coveted stretch of shoreline, featuring a sandy beach and spectacular western facing sunsets over the lake! This 3 bedroom, 2.5 bath, 1,780 sq ft ranch, built in 1991, offers turn-key, one-level living with an open living room showcasing lake views and a cozy gas fireplace, plus a spacious waterside primary suite. Additional features include an attached 2+ car garage and a detached outbuilding ideal for storing all your water toys. This rare offering includes two separate parcels, including a vacant back lot with potential to build a 2nd home (buyer to verify details with zoning). Located on quiet, low-traffic Shugart Shores, just 15 minutes from Downtown Traverse City, this property sits in Bingham Township, where Short Term Rentals are allowed with a township permit. Soak up summer on the expansive waterside deck, entertain, relax, and create unforgettable lakeside memories. Don’t miss this exceptional opportunity on Lake Leelanau! Septic replacement options may include A) leasing a neighboring property for a traditional system or B) potentially an on-site ATS, subject to site work, testing, approvals, and not guaranteed (details for both on file).

Northern Express Article - What's Trending in Real Estate

Northern Express Article 9/27/2025
What’s Trending in Real Estate Up North?

Advice and predictions from local agents
Interview with Jonathan Oltersdorf
click HERE to view the full article

1. Looking into late 2025/early 2026 (the next 6 months or so), what trends, challenges, or opportunities do you see in the local real estate market?

After four years of historically low inventory that created one of the strongest seller’s markets in history, the era of year-over-year record price increases is likely behind us. Excluding condos, the 2025 median sale price of single-family homes is now $688,250 in Leelanau County and $432,766 in Grand Traverse County.

Affordability remains the biggest challenge in our regional housing market, particularly for younger buyers without equity from prior homeownership. Beyond sale prices, property taxes and mortgage rates continue to weigh heavily on purchasing power.

2. What do you expect in terms of demand?

Demand has softened slightly as rising purchase costs have created a greater barrier to entry, while inventory has inched up at the same time. Overall, we now have about 5–6 months of housing supply—the textbook definition of a balanced market. It’s neither a buyer’s market nor a seller’s market, but the sweet spot in between.

That said, the waterfront submarket is the exception. With virtually no new inventory and plenty of buyers waiting, it remains a strong seller’s market, and prices have continued to climb sharply in that segment.

3. Will prices ever fall? What about interest rates?

Prices are unlikely to fall drastically unless we see a wave of forced sales like the ones following the 2008 financial crisis. The difference is that since 2008, we haven’t built enough housing nationwide to create widespread distress selling—especially in our region.

Here’s a telling stat: year-to-date, 38% of sales in Grand Traverse County and 47% in Leelanau County have been 100% cash purchases. Add in the many buyers putting 20% or more down, and most homeowners are positioned to “wait it out” rather than sell at a loss.

As for interest rates, the reality is setting in: 6%–7% rates are here to stay—and buyers are adjusting. In our market, where cash plays such a big role, mortgage rates don’t have the same impact on affordability that they do elsewhere in the country.

4. What percent of homes are vacation homes, Airbnbs, or investment properties vs. primary residences? Has that changed recently?

In Leelanau County, vacation homes have always been a significant part of the market. About 50% of my clients are buying second homes today.

Many assume that Airbnb and VRBO have shifted the balance, but the reality is our region has always had a high proportion of seasonal homes and rentals. Back in 2010, only 45.3% of homes in Leelanau County were primary residences. By 2024, that figure was 46%—essentially unchanged in 14 years.

5. How can first-time homebuyers (and those without $1M in cash) get a foot in the door?

Buying in 2025 is challenging—but not impossible. Success comes down to patience, preparation, and persistence.

A recent example: I worked with a first-time buyer couple closing this week on a home in Long Lake Township for under $300,000. They even secured a $10,000 interest-free down payment loan from MSHDA.

Their journey wasn’t smooth—they missed out the first time the home came to market. But when the initial buyer backed out, they were ready. Their offer stood out because it was clean and organized: they were pre-approved, had proof of funds in hand, and showed the seller they were serious.

That’s what it takes today. The opportunities are out there, but buyers need to be positioned to act quickly when the right one appears.

👉 Thinking about buying or selling in Northern Michigan? Let’s talk strategy. Every market has challenges, but there are always opportunities for those prepared to seize them.

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!

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/