2024 Leelanau County Vacant Land Market Trends: Year-End Insights
Units Sold: +17.26%
Volume Sold: +17.57%
Introduction:
Explore the latest trends shaping Leelanau County's vacant land market with our comprehensive analysis of the 2024 year-end sales data. This detailed report highlights key statistics such as units and volume sold, current inventory levels, and provides actionable insights into the real estate landscape in Leelanau County. Whether you're a buyer, seller, or investor, this article is your go-to resource for understanding the dynamics of Leelanau County's vacant land market.
Overview:
This analysis covers vacant land sales data from January 1 to December 31, 2024, offering a year-over-year comparison with statistics from 2015 to 2024. Our data spans the entire county, including popular areas like Bingham, Centerville, Cleveland, Elmwood, Empire, Glen Arbor, Kasson, Leelanau, Leland, Solon, Suttons Bay, and the City of Traverse City, located in the southeast corner of Leelanau County.
Key Market Trends:
Vacant Land Sales Normalization: After a record-breaking year in 2021, the vacant land market in 2022-2024 saw a return to historical averages.
Construction Activity on the Rise: Building permits issued in 2024 showed an uptick, both in volume and total value. While new construction remains expensive, the increased activity signals a more stable construction industry in Leelanau County.
Building Permits and Construction Trends:
Leelanau County experienced a significant increase in building permits issued during 2024, along with a rise in their total value. This growth reflects a stabilization in the construction sector despite the ongoing high costs of new builds. The upward trend is a promising indicator for future development and investment opportunities in the area.
Data Source and Accuracy:
The insights in this report are derived from sales data provided by the Northern Great Lakes Realtors MLS. Please note that undisclosed sales are excluded from the analysis to maintain transparency. While every effort has been made to ensure accuracy, this information is intended for general review purposes and is not guaranteed.
Why Stay Updated on Leelanau County Real Estate?
Staying informed on market trends is essential for making smart real estate decisions. Whether you're looking to invest in vacant land, build your dream home, or understand the market dynamics, the data provided in this report offers valuable context for navigating the Leelanau County real estate market in 2024 and beyond.
Contact Information: For further inquiries or to explore real estate opportunities in Leelanau County, feel free to contact Jonathan Oltersdorf of Oltersdorf Realty, LLC at:
Office Phone: 231-271-7777
Email: jonathan@oltersdorf.com
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