$10,000 Closing Credit*
$850,000
2,000 SqFt
5 Beds
•2 Full Baths
Zach Mikowski, Listing Office: Keller Williams Northern Michi
Is Lake Leelanau, 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, Lake Leelanau has remained a Seller's Market.
Key Takeaway
Lake Leelanau is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Leelanau, MI
How much do homes in Lake Leelanau, MI cost?
Median Sold Price
$1,711,000
$724/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$27,000(-1.6%)
Key Takeaway
Homes in Lake Leelanau have sold for 1.6% less than they did a month ago.
Summary: The median home sold price in Lake Leelanau was $1,711,000 in October 2024, down 1.6% from last month, and the median price per square foot was $724.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $851K | N/A |
| 3 Bedrooms | $920K | $2.3M | +154.9% |
| 4 Bedrooms | $2.3M | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Lake Leelanau housing prices by bedroom type for October 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 increased by 154.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lake Leelanau | $1.7M | $1.7M | -1.6% |
| Leland Township | $1.7M | $1.5M | -12.6% |
| Bingham Township | $765K | $667.5K | -12.7% |
| Centerville Township | $549K | $381.9K | -30.4% |
Housing Supply in Lake Leelanau, MI
How many homes are available in Lake Leelanau, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Summary: The Lake Leelanau real estate market had 13 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 6 | 4 | -33.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Lake Leelanau housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Leelanau, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Lake Leelanau in October 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Lake Leelanau, MI
How long does it take to sell a home in Lake Leelanau, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 108 Days | 41 Days | -61.5% |
Summary: Homes in Lake Leelanau had an average of 41 days on market in Oct 2024, down by 61.5% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake Leelanau has remained consistent over time.
Summary: During October 2024, 4 homes were sold in Lake Leelanau; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
