2021 Leelanau County Year-End Home Sales Data

2021 Leelanau County Year-End Home Sales Data

Volume Sold: +6.28%
Units Sold: -10.71%
Average Sales Price: +19.03%
Median Sales Price: +28.03%

(click photos below to enlarge)

The 2021 year end (January 1 – December 31) home sales data have been posted in the charts above. The home sales statistics compare real estate housing sold in Leelanau County from January 1, 2021 through December 31, 2021 to the same time period in 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, and 2012. 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.

Overall Leelanau County residential home sales in 2021 continued to set new all-time record highs in most categories. In 2021 Leelanau County Home Sales Volume Sold increased +6.28%, Units Sold decreased -10.71%, Average Sales Price increased +19.03%, and Median Sales Price increased +28.03%.

This report is based upon sales information obtained from the Northern Michigan Realtors MLS from 2004-2020. Undisclosed sales and fractional ownership 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

2021 Leelanau County Building Permits

After a challenging 2020 with the Covid-19 lockdown restrictions, 2021 proved to bounce back in a big way for Leelanau County Home Builders. 2021 Total Building Permits Issued in Leelanau increased +34.79% over 2020 and Total Value of Permits increased +65.35% to a new record high of almost $74 million! Many builders are now booking jobs 1-2 years in advance as they struggle to find enough employees.

2021 Leelanau County Year-End Vacant Land Sales Data

2021 Leelanau County Year-End Vacant Land Sales Data

Units Sold: +25.38%
Volume Sold: +68.01%

(click photos below to enlarge)

The 2021 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, 2021. 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.

For the 2nd year in a row Vacant Land Sales saw a significant increase in interest and sales throughout 2021 compared to 2020 Total units sold increased from 327 to 410, volume sold increased from $42.32 million to $71.10 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 

2021 Grand Traverse County Home Sales Data

2021 Grand Traverse County Year-End Home Sales Data

Volume Sold: +19.65%
Average Sales Price: +18.95%
Median Sales Price: +16.67%
Units Sold: +0.58%

(click photos below to enlarge)

The 2021 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, 2021 through December 31, 2021 to the same time period in 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, and 2012. 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 2021 continued to set new all-time record highs in most categories. In 2021 Grand Traverse County Home Sales Units Sold increased just +0.58% due to lack of inventory, Volume Sold increased +19.65%, Average Sales Price increased +18.95%, and Median Sales Price increased +16.67%.

This report is based upon sales information obtained from the Northern Michigan Realtors MLS from 2004-2021. Undisclosed sales and fractional ownership 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  

2022 Current Lake Michigan Water Levels

2022 Current Lake Michigan Water Levels

Lake Michigan Water Levels Down -26 Inches in 24 Months

For the 2nd year in a row the good news continues for many waterfront property owners on Lake Michigan as the most recent readings indicate that water levels are now -18 inches lower compared to this time in 2021 and -26 inches lower than this time in 2020! 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 14, 2022.  

January 14, 2022                   579.43 feet

Difference from January 14, 2021: -18 inches

Difference from long term average: +12 inches

Difference from highest monthly average (2020): -26 inches

Difference from lowest monthly average (2013): +41 inches

Projected change in levels by Feb 14, 2022:  -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/

Our 2021 Sales!

2021 kept us very busy with 49 transaction sides and $23 million in sales volume! We look forward to another great year in 2022!

Current Mortgage Rates - January 2022

Annual Average 30 Year Fixed-Rate Mortgage Rates

The average 30 year fixed mortgage rate decreased from 3.11% in 2020 to an annual average of 2.96% in 2021. January 2021 saw the lowest monthly rates of the year at 2.74% while December 2021 saw the highest monthly rates of the year at 3.10%. All indications point to rising mortgage interest rates in 2022.

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

3411 S Center Otto Road, Suttons Bay – SOLD

SOLD SUTTONS BAY FARMHOUSE ON ACREAGE

LISTED & SOLD by Oltersdorf Realty LLC on 12/30/2021
3411 S Center Otto Road, Suttons Bay, MI –Farmhouse, Outbuildings, & 15.22 Acres with 3 Additional Building Sites!
Asking Price: $650,000

A wonderful opportunity to purchase this 1 ½ story 4 bedroom classic farmhouse on 15.22 acres of beautiful rolling countryside conveniently located just 15 minutes north of Traverse City and within 5 miles of the charming year-round Village of Suttons Bay! Home features include 1,784 sq ft of finished living areas, 8’ main floor ceiling height, and a full unfinished basement with interior and exterior access. Additional features include a large oversized 56x24 four car detached garage, a traditional 64x35 two story barn, a delightful stone milk house, and plenty of room to roam! Minimal deed restrictions, agricultural zoning allows for outbuildings, and current Bingham Township zoning allows for short term vacation rentals (township rental permit required)!  The package includes the option for three ~2.75+ acre additional adjacent building sites (pending land division approval), all on a paved low-traffic county maintained road!

5 Acres – N Christianson Road, Northport – SOLD

SOLD NORTHPORT WATER VIEW ACREAGE LOT

LISTED & SOLD by Oltersdorf Realty LLC on 12/27/2021
$119,000 - N Christianson Road, Northport, MI – 5.05 Acre Water View Vacant Parcel
Asking Price: $119,000

Western facing Lake Michigan water views are enjoyed from this beautiful 5.05 acre building site located on a quiet dead-end private road.  Seclusion, tranquil countryside views, rolling open meadows, and wooded areas allow for a variety of potential building locations. Tree trimming or removal should enhance the view. The property is zoned residential conservation.  Site Survey (soil perc test) has been completed and is available for buyers review. No deed restrictions except for no mobile homes. A wonderful location within 10 minutes of Suttons Bay, Omena, Leland, and Northport!

236 N Front Street #5, Suttons Bay - SOLD

SOLD SUTTONS BAY BARKENTINE CONDOMINIUM

SOLD by Oltersdorf Realty LLC on 12/20/2021
236 N Front Street #5, Suttons Bay, MI - Village of Suttons Bay Barkentine Condominium
Asking Price: $440,000

Situated in the center of the Village of Suttons Bay this waterfront condominium enjoys a prime location adjacent to the Village Marina and waterfront sandy Beachfront Park! The Condominium features 2 bedrooms, 2.5 baths, hardwood floors, a beautiful brick fireplace, carport, and outdoor deck. Walk to dinner and shopping or hop on the Leelanau Bike Trail directly outside your front door. These units don’t come on the market very often! Association dues include heat, water & sewer, basic cable, trash, and exterior maintenance. Short term rentals allowed by the HOA!

2540 N Setterbo Road, Suttons Bay – SOLD

SOLD SUTTONS BAY HISTORIC FARMHOUSE

SOLD by Oltersdorf Realty LLC on 11/29/2021
2540 N Setterbo Road, Suttons Bay, MI - Historic Remodeled Farmhouse on 10 Acres!
Asking Price: $950,000

Breathtaking fully remodeled historic farm house on 10 acres in Suttons Bay Township! This Leelanau County gem features 3 bedrooms, 2 baths, 2800+ sq ft, and meticulously maintained inside and out!

11116 Mason Point, Williamsburg – SOLD

SOLD WILLIAMSBURG WATERFRONT LOT

LISTED & SOLD by Oltersdorf Realty LLC on 12/1/2021
11116 Mason Point, Williamsburg, MI – Vacant Parcel with 123’ of direct frontage on Truax Lake
Asking Price: $79,900

With 123’ of desirable southern facing frontage this is one of the best lots on Truax Lake! The ~1.10 acre wooded property features gently sloping topography perfect for a walkout ranch home towards the lake, plenty of room for an outbuilding, and is situated on the largest part of the lake.  Truax Lake is a 30 acre private non-motoring Lake surrounded by the Pere Marquette State Forest and trail system. Features include underground electric & cable, reasonable restrictions, outbuildings allowed, and paved private roads. Located in a quiet peaceful setting within 15 miles of downtown Traverse City and Elk Rapids!

8002 E Donner Road, Traverse City – SOLD

SOLD TRAVERSE CITY RANCH HOME

LISTING SOLD by Oltersdorf Realty LLC on 11/29/2021
8002 E Donner Road, Traverse City, MI – Charming Remodeled Ranch on 6.68 Acres with Water Views! 
Asking Price: $579,000

Charming recently remodeled countryside ranch home situated on a 6.68 acre private parcel with distant year-round southwestern facing water views of South Lake Leelanau! Featuring a long list of updates since 2016 the 1,728 sq ft one level home offers 3 bedrooms & 2 baths, an open great room with abundance of natural light, maple flooring throughout, a cozy wood burning fireplace, marble kitchen countertops, main floor master bedroom suite, main floor laundry, partial unfinished basement, attached garage, and a 28x40 detached garage with a workshop area! Beautiful tranquil setting featuring a mixture of rolling hardwoods and open meadow near the end of a quiet county maintained dead-end road conveniently located between Traverse City & Suttons Bay. Wonderful setup for a low-maintenance year-round primary home, seasonal Leelanau County 2nd home, or utilize entirely as a vacation rental property (township rental permit required)! The property likely has the potential to be split, contact the township zoning administrator to confirm details.

936 Sienna Street, Traverse City - SOLD

SOLD TRAVERSE CITY RANCH HOME

SOLD by Oltersdorf Realty LLC on 11/17/2021
936 Sienna Street, Traverse City, MI – New Construction 3 Bedroom & 2 Bath Home
Asking Price: $279,900

Completed in November 2021 this brand new Traverse City Ranch home features 3 bedrooms & 2 baths, 1,300 sq ft of main floor living, tiled shower, granite countertops, wood floors, 2 car attached garage, and a full unfinished walkout lower level.  

7700 N Manitou Trail, Northport - SOLD

SOLD NORTHPORT RANCH HOME

SOLD by Oltersdorf Realty LLC on 11/9/2021
7700 N Manitou Trail, Northport, MI - Ranch Home on 5.00 Acres
Asking Price: $425,000

Very well maintained 2 bedroom, 2 bath, 1300+ sq ft ranch home featuring a 2 car garage, vaulted ceilings, screened-in porch, new updates, and is situated on 5.00 private acres!!

40 Acres, Lossie Road, Williamsburg - SOLD

SOLD 40 ACRE WILLIAMSBURG VACANT LOT

SOLD by Oltersdorf Realty LLC on 10/8/2021
Lossie Road, Williamsburg, MI - 40 Acre Vacant Building Site
Asking Price: $320,000

Square 40 acres of rolling and level topography featuring open meadows, hardwoods, and farm views in a quiet location near Lake Skegemog.

980 N Dumas Road, Suttons Bay – SOLD

SOLD SUTTONS BAY HOME

LISTING SOLD by Oltersdorf Realty LLC on 10/29/2021
980 N Dumas Road, Suttons Bay, MI – 3 Bedroom & 2 Bath Raised Ranch with Bay Views
Asking Price: $458,000

This charming 3 bedroom, 2 bath raised ranch home is situated on a very private 1.10 acre wooded parcel less than 2 miles from the Village of Suttons Bay! Features include ~1,850 sq ft of finished living area, an open great room with cathedral ceilings and corridor Bay views, spacious living room and den, newly installed wood styled vinyl flooring throughout, walk out lower level, quality Andersen windows, large wrap around covered porch, attached extra deep garage, paved driveway, and garden shed! Wonderful location for a year-round primary home, seasonal vacation home, or possible short term vacation rental located just 0.60 miles from the northern end of the Leelanau Bike Trail and just 1 mile from public waterfront access on Suttons Bay!

719 N Apple Tree Drive, Unit #14, Suttons Bay – SOLD

SOLD SUTTONS BAY CONDOMINIUM

LISTING SOLD by Oltersdorf Realty LLC on 10/8/2021
719 N Apple Tree Drive, Unit #14, Suttons Bay, MI – Village of Suttons Bay Remodeled Condominium
Asking Price: $595,000

Wonderful location situated within the quaint Village of Suttons Bay! This 4 bedroom, 3.5 bath end unit condominium offers a private side yard, heated 2 car attached garage, and 2,500+ sq ft of finished living space which has been stylishly remodeled from top to bottom in the past few years! Features include an open great room with vaulted ceilings and an updated stone fireplace, main level master bedroom suite with double sinks and tiled shower, main floor laundry, upstairs loft/4th bedroom with a private bath, finished walkout lower level including 2 bedrooms, a full bath, and a large family room with a wet bar! Step outside to several private outdoor areas ideal for entertaining including a deck with a retractable awning, 2nd side deck with a newer oversized stamped concrete patio, and an additional lower level patio! Fantastic association amenities include: 1200' of shared sandy beach frontage, clubhouse, swimming pool, hot tub, potential for private marina use, tennis courts, and wonderful common areas including a catch and release pond. All within walking distance of downtown Suttons Bay and its popular restaurants, shopping, library, and theatre!

12371 N Island View Drive, Northport – SOLD

SOLD NORTHPORT WATER VIEW LOG HOME

LISTED & SOLD by Oltersdorf Realty LLC on 9/30/2021
12371 N Island View Drive, Northport, MI – 4,200+ Sq Ft, 5 Bedroom & 3 Bath Log Home with Lake Michigan Frontage! 
Asking Price: $1,050,000

Elevated panoramic sunset views of Lake Michigan and South Fox Island are enjoyed from throughout this incredible 5 bedroom & 3 bath high-quality custom log home!  The open great room offers soaring cathedral ceilings and a 2 story stone fireplace, glass door walls and large windows provide a bright and airy feeling throughout the home which is beautifully finished with a combination of lightly whitewashed full log & painted walls. Additional features include a beautifully updated kitchen with granite countertops & stainless steel appliances, spacious main floor master bedroom suite with lake views, 2 bedrooms and a 3/4 bath upstairs, finished walk-out lower level with a large family room, 2 large bedrooms, exercise room, and a full bath. Step outside to a large waterside deck perfect for entertaining, multiple patios & decks, and an outdoor shower! Just a short walk from the steps down to 4157’ of association frontage on Lake Michigan!