Is Leelanau County, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Leelanau County is a seller's market

Buyer's
Market

Difference Since August 2021

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.

How much do homes in Leelanau County, MI cost?

Median Sold Price

$546,000

$264/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$54,433(+11.1%)

Key Takeaway

Homes in Leelanau County have sold for 11.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $346.5K$655K
+89.0%
2 $366.5K$450K
+22.8%
3 $400K$450K
+12.5%
4 $741K$715K
-3.5%
5+ $986K$1.0M
+4.0%

Median Sold Price Compared To Nearby Counties

Benzie County
+32.7%
Grand Traverse County
+16.3%
Leelanau County
+11.1%

How many homes are available in Leelanau County, MI?

Number of Homes For Sale

Jul 2022Aug 2022%
8390+8.4%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 01
+100.0%
2 1110
-9.1%
3 3440
+17.6%
4 2929
0.0%
5+ 910
+11.1%

Number of Homes Sold

Jul 2022Aug 2022%
2716-40.7%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Leelanau County, you could pay more than the asking price. 68.8% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
45 Days48 Days+6.4%

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Leelanau County has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Leelanau County, MI

Leelanau County, MI has 90 homes on the market. The number of homes for sale in Leelanau County, MI increased by 8.4% between July 2022 and August 2022. In August 2022 median list price was $546,000 and the average listing age was 48 days. This housing market listing prices have changed between July 2022 and August 2022: 1 bedroom properties prices increased by 89%, 2 bedrooms properties became 22.8% more expensive, 3 bedrooms properties prices increased by 12.5%, the cost of 4 bedrooms properties went down by 3.5%, prices of 5 bedrooms properties went up by 4%. Volume of homes for sale in this real estate market have seen the following changes: number of 1 bedroom homes increased by 100%, number of 2 bedrooms homes decreased by 9.1%, the quantity of 3 bedrooms homes went up by 17.6%, number of 4 bedrooms homes remained the same, 5 bedrooms homes became 11.1% more available. While more than 11 listings in Leelanau County, MI in August 2022 were sold above asking price, there were more than 1 listings sold at asking price, and more than 4 were sold below.

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