In the last 2 years there have been 1,007 buyers of residential real estate within Leelanau County (2020-2021). Although the data is not perfect we are able to break down those buyers by the zip code location that they use as their primary mailing address at time of purchase. Over the past 2 years 51% of Buyers have come from a zip code within Leelanau County or Grand Traverse County. Historically our buyers have come from within a 6 hour drive but as you can see in the chart above we are starting to get more homebuyers from other areas in the United States.
40 Acres - S Center Otto Road, Suttons Bay - SOLD
Gently rolling 40 acres of previously farmed land, mostly open with a small back section of hardwoods! Wonderful location within Bingham Township just south of Suttons Bay in Leelanau County!
1800 N Eagle Highway, Lake Leelanau – SOLD
Built in 2002 this charming Cape Cod home is nestled on ~ 6.84 private partially wooded acres within Leland Township! Features include over 3,229 sq ft of finished living area, a living and formal dining rooms accented by hardwood flooring, a beautiful fireplace and custom built-ins, large open kitchen with breakfast bar, informal dining area and brick flooring, 4 large bedrooms each with private en-suite bathrooms, 2 main level master suites including one with a private den, and an additional 2,087+ sq ft of unfinished floor area offering potential for additional future living space! The home’s maintenance free vinyl exterior is enhanced by the private wooded setting, beautiful gardens, 240 sq ft covered front porch and rear yard deck. Quality construction includes in-floor radiant heating, ground water heat pump system, a/c, 400 amp electrical service, 2 car attached heated garage and ~ 1,176 sq ft insulated and heated detached workshop! Centrally located in a convenient setting close to many Leelanau County Villages! The home was built as a B&B making the amenities ideal for a primary home or vacation retreat!
Leelanau County Home Inventory 2004-2021
Leelanau County Home Inventory 2004-2021
Leelanau County home inventory remains at it’s lowest level since our data began! Back in 2009-2011 we had a 2-4 year supply of existing homes on the market. Fast forward to 2021 where we saw record low inventory resulting in just a 2-3 month supply of available houses. This record low inventory in 2021 resulted in just 15% of the total amount of houses come on the market that we saw in 2010. Currently in January 2022 we have less than a 1 month supply of available existing homes with less than 50 available houses on the market throughout the entire county. Most real estate economists consider a 6 month supply to be a balanced market which we are well short of and likely will be throughout 2022.
2021 Leelanau County Home Buyers - Cash or Financing?
In Leelanau County there were 475 residential home sales in 2021. Did they buy with cash or use financing?
43% of all home purchases in 2021 in Leelanau County were bought with cash, up from 34% in 2020. This compares to Grand Traverse County which had 30% of the houses bought with cash in 2021.
This report is based upon sales information obtained from the Northern Great Lakes Realtors MLS. Undisclosed sales and fractional ownership 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 2021?
In Leelanau County there were 475 residential home sales in 2021. What did Leelanau County home buyer’s purchase last year?
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51% of all 2021 Leelanau County homes sales sold for less than $500,000. Leland and Elmwood Township combined for 33% of all residential sales volume, and 32% of all home sales were waterfront or condominiums. Purchasing a home in 2021 often led to multiple offers due to extremely low home inventory, a continuation of what we saw in 2020.
This report is based upon sales information obtained from the Northern Great Lakes Realtors MLS. Undisclosed sales and fractional ownership 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 Leelanau County Waterfront Home Sales Data
2021 Leelanau County Year-End Waterfront Home Sales Data
Average Sales Price: +35.24%
Median Sales Price: +23.47%
Leelanau County Private Waterfront Home Sales data 2004-2021 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, and also excludes fractional ownership.
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 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%
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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
Book Your 2022 Suttons Bay Vacation Rental!
Our 2022 vacation rental reservations are filling up fast! We manage waterfront rentals on West Grand Traverse Bay, Suttons Bay, and off the water options within the Village of Suttons Bay! Visit Oltersdorf.com/rentals or give us a call for available dates and pricing.....
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%
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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%
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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!