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
Last month, Leelanau County was a Seller's Market.
Key Takeaway
Leelanau County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Leelanau County, MI
How much do homes in Leelanau County, MI cost?
Median Sold Price
$832,500
$393/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Leelanau County have sold for 40.6% more than they did a month ago.
Summary: The median home sold price in Leelanau County was $832,500 in April 2024, up 40.6% from last month, and the median price per square foot was $393.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | - | N/A |
| 2 Bedrooms | $842K | $415K | -50.7% |
| 3 Bedrooms | $504K | $865K | +71.6% |
| 4 Bedrooms | $877.5K | $800K | -8.8% |
| 5+ Bedrooms | $1.9M | $2.3M | +19.6% |
Summary: Leelanau County housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 50.7%, 3 bedroom homes increased by 71.6%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes increased by 19.6%.
Housing Supply in Leelanau County, MI
How many homes are available in Leelanau County, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 60 | 74 | +23.3% |
Summary: The Leelanau County real estate market had 74 homes for sale in April 2024, a 23.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 10 | 12 | +20.0% |
| 3 Bedrooms | 25 | 32 | +28.0% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 15 | 17 | +13.3% |
Summary: The Leelanau County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 28%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 13.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 12 | -14.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 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. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Leelanau County in April 2024, down by 14.3% month-over-month. Of the 12 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% 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
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 99 Days | 63 Days | -36.5% |
Summary: Homes in Leelanau County had an average of 63 days on market in Apr 2024, down by 36.5% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Leelanau County has remained consistent over time.
Summary: During April 2024, 12 homes were sold in Leelanau County; 33% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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