5065 Harris Road, Traverse City – SOLD

SOLD TRAVERSE CITY HOME ON ACREAGE

LISTING SOLD by Oltersdorf Realty LLC on 4/22/2021
5065 Harris Road, Traverse City, MI – Ranch Home with Outbuildings on 13 Acres near Downtown!
Asking Price: $411,000

Rare opportunity to purchase a home with multiple outbuildings and 13.21 acres located just 2.5 miles from Downtown Traverse City! The 1950’s home features 3 bedrooms and 1 bath, approximately 1,360 finished sq ft, main floor laundry, and a partial unfinished basement. Step outside to a cherished 36’x28’ heated pole barn with two 10’x16’ overhead doors, a 3 car detached garage, and a ~2,730 sq ft barn! Many exciting uses could potentially exist for this property such as a single family fixer-upper, agricultural operations, horse property, raising and keeping of small animals/livestock, or possibly be split into several building sites. Zoning is Agricultural, municipal water is available along Cedar Run Road.

Unit #24, S Bay Valley Drive, Suttons Bay – SOLD

SOLD SUTTONS BAY WATER VIEW PARCEL

SOLD by Oltersdorf Realty LLC on 4/15/2021
Unit #24, S Bay Valley Drive, Suttons Bay, MI - 2.70 Acre Water View Vacant Lot
Asking Price: $149,900

Large 2.70 acre Suttons Bay vacant parcel offering elevated West Grand Traverse Bay water views, views of Lee Point, and 800 feet of shared waterfrontage on West Bay within the established Bay Valley Estates subdivision in Bingham Township! Wonderful Leelanau County location just 5 minutes to Suttons Bay and 10 minutes to Traverse City!

35 Acres – S Lake Leelanau Drive, Lake Leelanau – SOLD

SOLD SUTTONS BAY TOWNSHIP ACREAGE PARCEL

LISTING SOLD by Oltersdorf Realty LLC on 3/23/2021
35 Acres – S Lake Leelanau Drive, Lake Leelanau, MI – Water View Vacant Acreage
Asking Price: $259,000

Beautiful heavily wooded and rarely available acreage located within Suttons Bay Township! This property features western facing sloping topography with sunset water views from the back of the property/ridgetop, several potential building sites, access to natural gas and cable at the road, no restrictions, and includes 1 remaining land division. Quiet location just 6 miles to Suttons Bay and 2 miles to Lake Leelanau.

S Celtic Lane Parcel “A”, Suttons Bay – SOLD

SOLD SUTTONS BAY VIEW PARCEL

LISTING SOLD by Oltersdorf Realty LLC on 3/8/2021
S Celtic Lane Parcel “A”, Suttons Bay, MI - Vacant 1.03 Acre Water View Lot
Asking Price: $55,000

This beautiful Leelanau County 1.03 acre partially wooded building site offers potential for sunrise water views of West Grand Traverse Bay with selective tree cutting! Fantastic countryside location off of a private drive just minutes from the charming year-round Village of Suttons Bay and within a short drive to downtown Traverse City! Road maintenance agreement and reasonable restrictions in place (1,500+ sq ft for a 1 story home and 1,800+ sq ft for a 2 story home).

11.27 Acres – S Elm Valley Road, Suttons Bay – SOLD

SOLD SUTTONS BAY ACREAGE PARCEL

LISTED & SOLD by Oltersdorf Realty LLC on 2/23/2021
11.27 Acres – S Elm Valley Road, Suttons Bay, MI – Water View Vacant Acreage
Asking Price: $195,000

Rare hard to find acreage located between Suttons Bay & Traverse City offering potential for year-round West Bay water views! This property features a variety of sloping and level topography with several potential ridgetop building sites, beautiful hardwoods throughout, access to natural gas and cable, and no association control over the property (only restrictions are no mobile, sectional, or modular homes). Quiet location just 10 minutes to Traverse City and 5 minutes to Suttons Bay!

2020 Leelanau County Year-End Waterfront Home Sales Data

2020 Leelanau County Year-End Waterfront Home Sales Data

Average Sales Price: +2.06%
Median Sales Price: +6.35%

Leelanau County Private Waterfront Home Sales data 2004-2020 for houses with private water frontage on Lake Michigan, West Bay, West Grand Traverse Bay, Grand Traverse Bay, Suttons Bay, Omena Bay, Northport Bay, Big Glen Lake, Little Glen Lake, Glen Lake, North Lake Leelanau, South Lake Leelanau, Lake Leelanau, Little Traverse Lake, and Lime Lake. This includes Traverse City, Suttons Bay, Omena, Northport, Leland, Lake Leelanau, Cedar, Maple City, Glen Arbor, and Empire. The data includes homes with private direct water frontage and "across the road" private waterfront. This excludes condominiums and homes with shared access, creek frontage, river frontage, and pond frontage.

This report is based upon sales information obtained from the Northern Great Lakes Realtors MLS. Undisclosed sales are not included in the data. This is for basic review purposes only. All attempts for accuracy have been made but cannot be guaranteed.

Jonathan Oltersdorf, Oltersdorf Realty, LLC
Phone: 231-271-7777
E-mail: jonathan@oltersdorf.com

What did Leelanau County Homebuyer’s Purchase in 2020?

In Leelanau County there were 532 residential home sales throughout 2020. What did Leelanau County homebuyer’s purchase last year?

(click photos below to enlarge)

65% of all 2020 Leelanau County homes sales sold between $100,000-$500,000, Leland and Elmwood Township combined for 32% of all residential sales volume, 41% of all home sales were waterfront or condominiums, and 34% of all sales were cash purchases. Purchasing a home in 2020 often led to multiple offers due to extremely low home inventory. Our home inventory peaked at approximately 40% of the total inventory we had a decade ago. Supply is now well under 6 months of inventory which puts us in a very strong Seller’s market.

This report is based upon sales information obtained from the Northern Great Lakes Realtors MLS. Undisclosed sales are not included in the data. This is for basic review purposes only. All attempts for accuracy have been made but cannot be guaranteed.

Jonathan Oltersdorf, Oltersdorf Realty, LLC
Phone: 231-271-7777
E-mail: jonathan@oltersdorf.com 

2020 Leelanau County Year-End Vacant Land Sales Data

2020 Leelanau County Year-End Vacant Land Sales Data

Units Sold: +64.32%
Volume Sold: +60.04%

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The 2020 year end (January 1 – December 31) vacant land sales data have been posted in the graphs above. The vacant land sales statistics compare real estate vacant parcels sold in Leelanau County from January 1, 2004 through December 31, 2020. This includes the townships of Bingham, Centerville, Cleveland, Elmwood, Empire, Glen Arbor, Kasson, Leelanau, Leland, Solon, Suttons Bay, and the City of Traverse City within the southeast corner of Leelanau County.

Vacant land sales saw a significant increase in interest and sales throughout 2020 compared to 2019. Total units sold increased from 199 to 327, volume sold increased from $26.44 million to $42.32 million!

This report is based upon sales information obtained from the Northern Great Lakes Realtors MLS. Undisclosed sales are not included in the data. This is for basic review purposes only. All attempts for accuracy have been made but cannot be guaranteed.

Jonathan Oltersdorf, Oltersdorf Realty, LLC
Phone: 231-271-7777
E-mail: jonathan@oltersdorf.com 

2020 Grand Traverse County Home Sales Data

2020 Grand Traverse County Year-End Home Sales Data

Volume Sold: +6.48%
Average Sales Price: +12.66%
Median Sales Price: +8.04%
Units Sold: -5.48%

(click photos below to enlarge)

The 2020 year-end (January 1 – December 31) home sales data for Grand Traverse County has been posted in the charts above. The home sales statistics compare real estate housing sold in Grand Traverse County from January 1, 2020 through December 31, 2020 to the same time period in 2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, and 2011. This includes the townships of Acme, Blair, East Bay, Fife Lake, Garfield, Grant, Green Lake, Long Lake, Mayfield, Paradise, Peninsula, Union, Whitewater, and the City of Traverse City.

Overall Grand Traverse County residential home sales in 2020 continued to set new all-time record highs in most categories. In 2020 Grand Traverse County Home Sales Units Sold decreased -5.48% due to lack of inventory, Volume Sold increased +6.48%, Average Sales Price increased +12.66%, and Median Sales Price increased +8.04%.

This report is based upon sales information obtained from the Northern Michigan Realtors MLS from 2004-2020. Undisclosed sales are not included in the data. This is for basic review purposes only. All attempts for accuracy have been made but cannot be guaranteed.

Jonathan Oltersdorf, Oltersdorf Realty, LLC
Phone: 231-271-7777
E-mail: jonathan@oltersdorf.com  

 

11629 E Belanger Woods Dr, Suttons Bay - SOLD

SOLD SUTTONS BAY ACREAGE PARCEL

LISTING SOLD by Oltersdorf Realty LLC on 1/20/2021
11629 E Belanger Woods Drive, Suttons Bay, MI - 8.50 Acres 3 Miles North of Suttons Bay
Asking Price: $69,500

Beautiful rolling and wooded large acreage building site offering complete privacy, seasonal Bay Views, numerous possible building locations, and approved drain field site. Area of quality homes surrounded by natural surroundings on a paved private drive with underground utilities including natural gas, electric, and cable. Ideal location just 3 miles north of Suttons Bay!

2020 Leelanau County Building Permits

There is no doubt that Leelanau County Contractors had a challenging start to 2020 with the Covid-19 lock down restrictions that were put in place. Once construction started to open up many homeowners were also hesitant to allow contractors in their occupied homes to complete remodels. Although the number of permits dropped to 457 and the value of the permits dropped to a total of $44.72 million the contractors that we have spoken to recently are now as busy as ever! We expect 2021 to bring a return of the construction numbers back to 2017-2019 figures after a very unusual 2020.

2021 Current Lake Michigan Water Levels

2021 Current Lake Michigan Water Levels

Some good news for many waterfront property owners on Lake Michigan as the most recent readings indicate that water levels are now -7 inches lower compared to this time last year. January 2020 - July 2020 saw record high water levels on Lake Michigan.

The United States Army Corps of Engineers collects and publishes current / past Lake Michigan water level data which is very important to many property owners in Leelanau County & Grand Traverse County who own real estate on Lake Michigan or Grand Traverse Bay. Their last reading took place on January 15, 2021.  

January 15, 2021                   580.97 feet

Difference from January 15, 2020: -7 inches
Difference from long term average: +31 inches
Difference from highest monthly average (1987): -4 inches
Difference from lowest monthly average (2013): +59 inches
Projected change in levels by Feb 15, 2021: -1 inches

Click here to open/download the full report for the current month:
http://lre-wm.usace.army.mil/reports/GreatLakes/GLWL-CurrentMonth-Feet.pdf

For more information on current & past historic records regarding the Great Lakes Water Levels please visit: http://www.lre.usace.army.mil/Missions/Great-Lakes-Information/Great-Lakes-Water-Levels/Water-Level-Forecast/Weekly-Great-Lakes-Water-Levels/

7500 S Lakeview Road, Traverse City – SOLD

SOLD SOUTH LAKE LEELANAU WATERFRONT HOME

LISTED & SOLD by Oltersdorf Realty LLC on 1/8/2021
7500 S Lakeview Road, Traverse City, MI – Ranch Home with 192’ on South Lake Leelanau
Asking Price: $749,000

Spacious direct waterfront ranch home located on an exceptionally deep 3.82+ acre wooded parcel offering 192’ of desirable western facing private water frontage on South Lake Leelanau! This classic Leelanau cottage features 2,224 finished sq ft of living space, 5 bedrooms, 2.5 baths, beamed cathedral ceilings, hardwood flooring throughout, and unlimited potential for future updates. Exceptionally quiet setting set back from the roadway in a perfect location just 10 miles from Downtown Traverse City! Survey and permit for a future replacement drainfield on file.

Current Mortgage Rates - January 2021

Annual Average 30 Year Fixed-Rate Mortgage Rates

The average 30 year fixed mortgage rate decreased dramatically from 3.94% in 2019 to an annual average of 3.11% in 2020. Above you will find the historical monthly average rate dating back to 2006. December 2020 ended with a monthly average of just 2.68% which was a historic record low!

Monthly data dating back to 1971 can be found here: http://www.freddiemac.com/pmms/pmms30.html

7345 N Island Watch, Northport, MI - Sold

SOLD NORTHPORT WATER VIEW PARCEL

SOLD by Oltersdorf Realty LLC on 12/29/2020
7345 N Island Watch, Northport, MI - 3.35 Acre Water View Vacant Parcel
Asking Price: $139,000

3.35 acre wooded water view parcel featuring sunset Lake Michigan views and views of the Manitou Islands! Located between Leland and Northport just off of the iconic M-22 in the heart of Leelanau County!

12073 S Elk Ridge Drive, Traverse City – SOLD

SOLD CEDAR CREEK COMMONS CONDO

LISTED & SOLD by Oltersdorf Realty LLC on 12/22/2020
12073 S Elk Ridge Drive, Traverse City, MI – 3 Bedroom, 3 Bath Cedar Creek Condominium
Asking Price: $365,000

Wonderful move-in ready condominium in popular Cedar Creek Commons! This desirable ranch home features ~2,500+ finished sq ft, an open great room with vaulted ceilings and a gas fireplace, 3 bedrooms & 3 baths (2 main floor bedrooms & baths), rare main floor bonus den, main floor laundry, partially finished lower level with plenty of storage space, private deck, and an attached 2 car garage! Recent updates include a new furnace, new air conditioning unit, and newer quartz countertops and backsplash! Low maintenance living in a sought after location adjacent to the Elmwood Township Park and just minutes to the Leelanau Bike Trail and Downtown Traverse City! Association dues include road maintenance and snow plowing, lawn care, water, and trash (amenities building offers an indoor swimming pool & exercise area).

7492 S Lakeview Road, Traverse City - SOLD

SOLD SOUTH LAKE LEELANAU WATERFRONT HOME

SOLD by Oltersdorf Realty LLC on 12/16/2020
7492 S Lakeview Road, Traverse City, MI - Home with 293’ on South Lake Leelanau!
Asking Price: $995,000

Unique opportunity to own a South Lake Leelanau boathouse with living space above! This 2 bedroom, 1.5 bath boathouse sits on 293’ of direct private frontage with 3.31 wooded acres just 10 minutes from Downtown Traverse City in southern Leelanau County! Western facing sunset water views in Leelanau County!

760 S Village View Court, Suttons Bay – SOLD

SOLD SUTTONS BAY WATER VIEW PARCEL

LISTING SOLD by Oltersdorf Realty LLC on 12/11/2020
760 S Village View Court, Suttons Bay, MI – 2.28 Acre Bay View Vacant Parcel
Asking Price: $149,500

Panoramic western facing sunset views of “The Bay” and the Village of Suttons Bay are enjoyed from this beautiful 2.28 acre building site offering stunning water views and a gently sloping landscape of open meadows surrounded by cherry orchards! Village View is a small neighborhood of quality homes featuring a paved private road, natural gas, underground electric, and high speed cable internet. Located just minutes to the year-round Village of Suttons Bay and within a short drive of Downtown Traverse City!

3173 S Lee Point Road, Suttons Bay – SOLD

SOLD SUTTONS BAY WATERFRONT HOME

LISTING SOLD by Oltersdorf Realty LLC on 11/23/2020
3173 S Lee Point Road, Suttons Bay, MI – 3,600 Sq Ft Ranch with 150’ on West Bay
Asking Price: $994,900

This quality built year-round 3,600 sq ft ranch home located on desirable Lee Point Peninsula offers wonderful sunrise views over Old Mission Peninsula from nearly every room of the home and is situated on a beautifully landscaped partially wooded lot with 150’ of private direct West Grand Traverse Bay frontage! Features include large living, dining, family rooms and kitchen areas, 4 main floor bedrooms, 3.5 recently remodeled baths, hardwood and ceramic tile flooring, vaulted ceilings, 9 skylights, 2 fireplaces, large waterside windows and patio doors providing expansive views, waterside studio/sunroom, a partial unfinished basement, Trex maintenance free decking, a 334+ sq ft covered front porch, 4+ car attached garage, back-up gas generator, security system, and much more!  Exceptional low maintenance year-round or vacation home in a tranquil quiet location set far back from the county roadway on a shared private drive!

Lot 11 - S Lakeview Road, Traverse City - SOLD

SOLD SOUTH LAKE LEELANAU WATERFRONT PARCEL

SOLD by Oltersdorf Realty LLC on 11/17/2020
Lot 11 - S Lakeview Road, Traverse City, MI - 107’ and 1.45 Acres on South Lake Leelanau
Asking Price: $495,000

Rarely available vacant waterfront lot on S Lakeview Road in a fantastic quiet location close to Traverse City! This 1.45 acre parcel features 107’ of direct private western facing frontage on South Lake Leelanau in Leelanau County!