$74,900
1.47 Acres
Land
Ryan Craig, 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 November 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
$599,000
$316/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$55,500(-8.5%)
Key Takeaway
Homes in Leelanau County have sold for 8.5% less than they did a year ago.
Summary: The median home sold price in Leelanau County was $599,000 in November 2024, down 8.5% from last year, and the median price per square foot was $316.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325.3K | $270K | -17.0% |
| 2 Bedrooms | $435.6K | $442.5K | +1.6% |
| 3 Bedrooms | $630K | $549.2K | -12.8% |
| 4 Bedrooms | $825K | $868K | +5.2% |
| 5+ Bedrooms | $1.6M | $962.5K | -41.7% |
Summary: Leelanau County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17%, 2 bedroom homes increased by 1.6%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes decreased by 41.7%.
Median Sold Price Compared To Nearby Counties
| Benzie County | $339.9K | $372.9K | +9.7% |
| Leelanau County | $654.5K | $599K | -8.5% |
Housing Supply in Leelanau County, MI
How many homes are available in Leelanau County, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 106 | 82 | -22.6% |
Summary: The Leelanau County real estate market had 82 homes for sale in November 2024, a 22.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 26 | 17 | -34.6% |
| 3 Bedrooms | 42 | 32 | -23.8% |
| 4 Bedrooms | 22 | 20 | -9.1% |
| 5+ Bedrooms | 15 | 12 | -20.0% |
Summary: The Leelanau County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 34.6%, 3 bedroom homes decreased by 23.8%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 32 | 16 | -50.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 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. 73.3% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Leelanau County in November 2024, down by 50.0% month-over-month. Of the 15 sold homes, 73% were sold under asking, 27% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 41 Days | 62 Days | +52.3% |
Summary: Homes in Leelanau County had an average of 62 days on market in Nov 2024, up by 52.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
12 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 November 2024, 16 homes were sold in Leelanau County; 6% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
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