Is Leelanau County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Leelanau County has remained a Seller's Market.
Key Takeaway
Leelanau County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Leelanau County, MI
How much do homes in Leelanau County, MI cost?
Median Sold Price
$634,500
$350/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Leelanau County have sold for 9.1% more than they did a month ago.
Summary: The median home sold price in Leelanau County was $634,500 in March 2024, up 9.1% from last month, and the median price per square foot was $350.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $225K | N/A |
| 2 Bedrooms | $337.9K | - | N/A |
| 3 Bedrooms | $700K | $477K | -31.9% |
| 4 Bedrooms | $657.5K | $1.2M | +97.0% |
| 5+ Bedrooms | - | $1.9M | N/A |
Summary: Leelanau County housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 31.9%, 4 bedroom homes increased by 97%, and 5+ bedroom homes did not change.
Housing Supply in Leelanau County, MI
How many homes are available in Leelanau County, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 45 | 60 | +33.3% |
Summary: The Leelanau County real estate market had 60 homes for sale in March 2024, a 33.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 10 | 9 | -10.0% |
| 3 Bedrooms | 19 | 25 | +31.6% |
| 4 Bedrooms | 5 | 10 | +100.0% |
| 5+ Bedrooms | 11 | 15 | +36.4% |
Summary: The Leelanau County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 31.6%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 11 | +37.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Leelanau County, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Leelanau County in March 2024, up by 37.5% month-over-month. Of the 11 sold homes, 64% were sold under asking, 27% were sold at asking, and 9% were sold over asking.
Days on Market for Leelanau County, MI
How long does it take to sell a home in Leelanau County, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 125 Days | 106 Days | -15.3% |
Summary: Homes in Leelanau County had an average of 106 days on market in Mar 2024, down by 15.3% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Leelanau County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 11 homes were sold in Leelanau County; 27% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 55% of homes were sold over 90 days.
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