$4,800,000
8,100 SqFt
8 Beds
•3 Full Baths
Shawn Schmidt, Listing Office: Coldwell Banker Schmidt Traverse City
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
Since last month, 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
$622,450
$340/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$177,550(-22.2%)
Key Takeaway
Homes in Leelanau County have sold for 22.2% less than they did a month ago.
Summary: The median home sold price in Leelanau County was $622,450 in October 2024, down 22.2% from last month, and the median price per square foot was $340.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $717.5K | $550K | -23.3% |
| 3 Bedrooms | $549K | $629.9K | +14.7% |
| 4 Bedrooms | $825K | $1.2M | +51.5% |
| 5+ Bedrooms | - | $600K | N/A |
Summary: Leelanau County 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 decreased by 23.3%, 3 bedroom homes increased by 14.7%, 4 bedroom homes increased by 51.5%, and 5+ bedroom homes did not change.
Housing Supply in Leelanau County, MI
How many homes are available in Leelanau County, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 115 | 109 | -5.2% |
Summary: The Leelanau County real estate market had 109 homes for sale in October 2024, a 5.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 28 | 29 | +3.6% |
| 3 Bedrooms | 44 | 41 | -6.8% |
| 4 Bedrooms | 27 | 23 | -14.8% |
| 5+ Bedrooms | 15 | 15 | 0.0% |
Summary: The Leelanau County 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 increased by 3.6%, 3 bedroom homes decreased by 6.8%, 4 bedroom homes decreased by 14.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 30 | +30.4% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
8 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. 43.3% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in Leelanau County in October 2024, up by 30.4% month-over-month. Of the 30 sold homes, 43% were sold under asking, 30% were sold at asking, and 27% 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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 63 Days | 78 Days | +23.5% |
Summary: Homes in Leelanau County had an average of 78 days on market in Oct 2024, up by 23.5% compared to last month.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Leelanau County has remained consistent over time.
Summary: During October 2024, 30 homes were sold in Leelanau County; 17% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
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