$89,900
3.20 Acres
Land
Trent Sims, Listing Office: The Mitten Real Estate Group
Is Leelanau County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, 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
$650,000
$326/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
-$22,500(-3.3%)
Key Takeaway
Homes in Leelanau County have sold for 3.3% less than they did a year ago.
Summary: The median home sold price in Leelanau County was $650,000 in September 2024, down 3.3% from last year, and the median price per square foot was $326.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260.7K | $310K | +18.9% |
| 2 Bedrooms | $465K | $422.3K | -9.2% |
| 3 Bedrooms | $670K | $560.6K | -16.3% |
| 4 Bedrooms | $844K | $868K | +2.8% |
| 5+ Bedrooms | $1.3M | $1.1M | -16.7% |
Summary: Leelanau County housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.9%, 2 bedroom homes decreased by 9.2%, 3 bedroom homes decreased by 16.3%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes decreased by 16.7%.
Median Sold Price Compared To Nearby Counties
| Benzie County | $338.9K | $359.5K | +6.1% |
| Leelanau County | $672.5K | $650K | -3.3% |
Housing Supply in Leelanau County, MI
How many homes are available in Leelanau County, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 120 | 125 | +4.2% |
Summary: The Leelanau County real estate market had 125 homes for sale in September 2024, a 4.2% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 24 | 31 | +29.2% |
| 3 Bedrooms | 50 | 47 | -6.0% |
| 4 Bedrooms | 33 | 31 | -6.1% |
| 5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The Leelanau County housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 29.2%, 3 bedroom homes decreased by 6%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 26 | 23 | -11.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Leelanau County, you may be able to get a good deal. 59.1% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in Leelanau County in September 2024, down by 11.5% month-over-month. Of the 22 sold homes, 59% were sold under asking, 23% were sold at asking, and 18% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 49 Days | 69 Days | +41.2% |
Summary: Homes in Leelanau County had an average of 69 days on market in Sep 2024, up by 41.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Leelanau County has remained consistent over time.
Summary: During September 2024, 23 homes were sold in Leelanau County; 13% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
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