2022 Grand Traverse County Home Sales Data

2022 Grand Traverse County Year-End Home Sales Data
(click photos below to enlarge)

The 2022 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, 2022 through December 31, 2022 to the same time period in 2021, 2020, 2019, 2018, 2017, 2016, 2015, 2014, and 2013. 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 2022 continued to set new all-time record highs in pricing. In 2022 Grand Traverse County Home Sales Units Sold decreased -15.18% due to lack of inventory, Volume Sold decreased -2.58%, Average Sales Price increased +14.87%, and Median Sales Price increased +15.78%.

This report is based upon sales information obtained from the Northern Michigan Realtors MLS from 2004-2022. 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  

2023 Current Lake Michigan Water Levels

2023 Current Lake Michigan Water Levels

Lake Michigan Water Levels Down -7 Inches in 12 Months

For the 3rd 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 -7 inches lower compared to this time in 2022 and -32 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 13, 2023                   578.87 feet

Difference from January 13, 2022: -7 inches

Difference from long term average: +5 inches

Difference from highest monthly average (2020): -32 inches

Difference from lowest monthly average (2013): +34 inches

Projected change in levels by Feb 13, 2023:  -1 inches

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/

3490 S Center Otto Road, Suttons Bay - SOLD

SOLD SUTTONS BAY VACANT ACREAGE

LISTED & SOLD by Oltersdorf Realty LLC on 1/13/2023
3490 S Center Otto Road, Suttons Bay, MI - Vacant 22.50 Acre Parcel
Asking Price: $665,000

898 N Bay Cliff Drive #26, Suttons Bay – SOLD

SOLD SUTTONS BAY BAY CLIFF CONDOMINIUM

LISTING SOLD by Oltersdorf Realty LLC on 1/12/2023
898 N Bay Cliff Drive #26, Suttons Bay, MI – Walkout Ranch Condominium with Partial Water View & 2 Car Garage
Asking Price: $649,000

This impressive transitionally styled condominium with an attached 2 car garage offers 2,563 sq. ft. of spacious finished living area, an open great room featuring a living room with cathedral ceilings & natural gas fireplace, roomy kitchen with breakfast bar, maple cabinetry, granite countertops, and stainless steel appliances, main level master bedroom suite with cathedral ceilings, private bath with wonderful whirlpool tub and walk-in shower, granite countertops, and a total of 4 bedrooms (2 on the main floor), 3 baths, and main floor laundry! The partially finished walkout lower level offers 2 bedrooms and a full bath, a large family room and ~661+ sq. ft. of unfinished storage space! A wonderful quiet location in an established community of waterfront and water view condominiums! Fantastic association amenities include: 1200' of shared sandy beach frontage, clubhouse, swimming pool, hot tub, and potential for private marina slip lease, tennis/pickle ball courts, and a catch & release pond. All within the Village of Suttons Bay and its popular restaurants, shopping, library, and theatre!

Current Mortgage Rates - January 2023

Annual Average 30 Year Fixed-Rate Mortgage Rates

After historically low mortgage rates in 2021 it was no surprise to see mortgage rates rise in 2022 as the fed fought inflation and the 10 year treasury rates increased throughout the year. After starting 2022 at 3.22% for a 30 year fixed rate the first week of the the year, we ended with rates at 6.42% the last week of the year. Overall weekly average for the year was about 5.30%.

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

Our 2022 Sales!

41 Transactions
$25,034,500 Sales Volume
And with that, it’s a wrap on 2022!

11568 E Casperson Road, Northport – SOLD

SOLD NORTHPORT WATER VIEW HOME

LISTING SOLD by Oltersdorf Realty LLC on 1/6/2023
11568 E Casperson Road, Northport, MI – 3 Bedroom Home on 8.67 Acres with Year-Round Bay Views!
Asking Price: $459,000

Incredible year-round picture-perfect Bay views are enjoyed from throughout this charming turn-key vacation retreat or primary home situated on 8.67 acres! This 3 bedroom, 2 bath home features 1,300+ sq ft of finished living area, an open great room with vaulted ceilings and cherry hardwood flooring, a cozy wood burning natural fireplace, spacious waterside composite deck with views for miles, central air conditioning, gas forced air heating, newer roof, newer septic & well, cable high speed internet/tv, and so much more!  The 8.67 acre parcel offers room to roam and a variety of potential land division options, has direct pond frontage, and is situated just south of the delightful Village of Northport. Short term rentals are allowed in Leelanau Township (with a rental permit). Buyer should confirm all land division options and short term rental requirements with the zoning department. Time to start making your very own Leelanau County memories!

Lot 24 – S Bay Valley Drive, Suttons Bay – SOLD

SOLD SUTTONS BAY WATER VIEW PARCEL

LISTING SOLD by Oltersdorf Realty LLC on 1/6/2023
Lot 24 – S Bay Valley Drive, Suttons Bay, MI – 2.77 Acre Water View Lot + 800' of Shared West Bay Water Frontage!
Asking Price: $175,000

Rare opportunity to own nearly 3 acres with year-round West Grand Traverse Bay views and water access within a quick 15 minute drive to Downtown Traverse City!  This beautiful 2.77 acre property features gently sloping topography ideal for a walkout basement and is situated within a short walk of the 800 feet of shared waterfrontage on West Grand Traverse Bay (boat dockage allowed)! Association amenities include shared beachfront, paved private roads, and underground utilities including natural gas & cable internet/tv. Located just 5 miles south of Suttons Bay within a wonderful private neighborhood of large acreage building sites and premier quality homes! Minimum 1,650 sq ft finished above grade, and 1,200 minimum sq ft on the main floor for a multi-story home. Outbuildings allowed with approval. WHAT A VIEW!

4801 S Manor, Cedar - SOLD

SOLD CEDAR RANCH HOME

SOLD by Oltersdorf Realty LLC on 12/21/2022
4801 S Manor, Cedar, MI - 3 Bedroom & 2 Bath Ranch on 0.58 Acres!
Asking Price: $379,000

Move-in ready 1,400 sq ft ranch home featuring 3 bedrooms & 2 baths on the main floor, large attached 2 car garage, full unfinished basement with an egress window and framed walls, all on 0.58 acres in a quiet location on a county maintained road close to Good Harbor Beach and Lake Michigan!

Lot 10 - N Evgor Point, Suttons Bay - SOLD

SOLD SUTTONS BAY WATER VIEW PARCEL

SOLD by Oltersdorf Realty LLC on 11/29/2022
Lot 10 - N Evgor Point, Suttons Bay, MI - 2.00 Acre Water View Parcel
Asking Price: $149,000

2.00 acre water view building site within Bayscape Hills located just minutes from the Village of Suttons Bay in Suttons Bay Township, Leelanau County!

10860 E Murray Court, Suttons Bay - SOLD

SOLD SUTTONS BAY RANCH HOME

SOLD by Oltersdorf Realty LLC on 11/16/2022
10860 E Murray Court, Suttons Bay, MI - 3 Bedroom & 2 Bath Ranch on 0.69 Acres!
Asking Price: $335,000

3 bedroom and 2 bath move-in ready ranch home on a 0.69 acre lot with a full unfinished basement and 2.5+ car attached garage just minutes from the Village of Suttons Bay! Buyer's Broker - Oltersdorf Realty. Photos courtesy of Coldwell Banker Schmidt Glen Arbor - Listing Broker.

2640 N West Silver Lake Road, Traverse City - SOLD

SOLD REMODELED TRAVERSE CITY FARMSTEAD

SOLD by Oltersdorf Realty LLC on 10/7/2022
2640 N West Silver Lake Road, Traverse City, MI - 4 Bedroom & 3 Bath Farmhouse on 6.44 Acres
Asking Price: $995,000

Silver Lake Homstead - This beautifully remodeled classic farmhouse features 2,568 finished sq ft, 4 bedrooms, 3 baths, unique custom touches throughout, sauna, 800 sq ft tool shed and studio, large classic barn, and so much more on a rare 6.44 acres so close to Downtown Traverse City!

12063 N Foxview Drive, Northport - SOLD

SOLD NORTHPORT WATER VIEW LOT

SOLD by Oltersdorf Realty LLC on 10/6/2022
12063 N Foxview Drive, Northport, MI - 1.69 Acre Water View Lot + Lake Michigan Access
Asking Price: $475,000

Stunning western facing sunset views of Lake Michigan are enjoyed from this 1.69 acre ridge top building site within The Shores subdivision in Northport Michigan! 4,000 feet of shared water access on Lake Michigan is just steps away!

12175 E Old Orchard Trail, Suttons Bay – SOLD

SOLD SUTTONS BAY WALKOUT RANCH HOME

LISTING SOLD by Oltersdorf Realty LLC on 10/3/2022
2175 E Old Orchard Trail, Suttons Bay, MI – Ranch Walkout Home on 2.35 Acres + Shared West Bay Frontage!
Asking Price: $795,000

Location, privacy, shared West Bay access, and seasonal water views are enjoyed from this cedar sided ranch home with a fully exposed finished walk out lower level nestled within a park like 2.35 acre parcel on Stony Point Peninsula! This energy efficient one owner home built in 1994 features over 3,725+ sq ft of finished living area which includes an open floor plan, spacious living room with a gas fireplace, oversized windows and glass doors offering wonderful natural light and direct access to the 30’x12’ covered porch, 10’ main level ceilings throughout, open kitchen with 2 informal dining areas, Corian countertops, and stainless steel appliances!  Additional main level features include a spacious master bedroom suite with walk-in closet and private bath, a 2nd large main floor bedroom with a full hall bath, and a wonderful main floor laundry/mud room. The roomy and bright walk-out lower level features large windows, 8.5’ ceilings throughout, and an open family room which steps out to a big cement patio, 2nd gas fireplace, office area, and a 3rd bedroom with direct access to the 3rd bathroom. Step outside to the 3.5 car finished & heated attached garage with plumbing!  For those Buyers who want additional buildings for all their toys this parcel offers flexibility to build additional stick built outbuildings! Package includes a 2nd buildable lot which is part of Nabawnaga Shores development which gives you shared waterfront access on West Grand Traverse Bay for beach and boat access.  A wonderful low-traffic and quiet neighborhood within an easy drive to both Sutotns Bay & Traverse City!

5579 S Spyglass Ridge Drive, Suttons Bay - SOLD

SOLD SUTTONS BAY WALKOUT RANCH WATER VIEW HOME

SOLD by Oltersdorf Realty LLC on 9/30/2022
5579 S Spyglass Ridge Drive, Suttons Bay, MI - Newer Walkout Ranch Home + Shared West Bay Frontage!
Asking Price: $1,100,000

Beautiful 4 Bedroom, 3 Bath, 3,700+ sq ft water view walkout ranch home built in 2013 in popular Bay View Pines, 3 car attached garage, 1400 feet of shared frontage on West Grand Traverse Bay!

308 N Lincoln Street, Suttons Bay – SOLD

SOLD VILLAGE OF SUTTONS BAY HOME

LISTING SOLD by Oltersdorf Realty LLC on 9/28/2022
308 N Lincoln Street, Suttons Bay, MI – Newer 5 Bedroom, 3 Bath Home in the Village of Suttons Bay
Sold Price: $830,000

A rare find within the Village of Suttons Bay! This cottage style newer built 5 bedroom, 3 bath stylish home is an ideal primary home or vacation retreat offering 3,075 sq ft of finished living area, a well-designed comfortable layout that features wonderfully designed finishes and creative uses of space throughout. The main floor offers hardwood floors, a large chefs dream kitchen with white wood cabinetry, granite and butcher block countertops, a built-in breakfast nook, a large pantry/laundry/and mud room combo space with plenty of thoughtful storage! The upstairs which could be used as an in-law/guest suite has an interior and exterior entrance, 2 bedrooms & 1 bath, 2nd kitchen and laundry, and an open living/dining room! Extras include 8’ main level ceiling height, cathedral ceilings on the second level, energy efficient 2x6 construction, and low-e glass windows. Relax on your secluded covered rear porch with wood beamed cathedral ceilings. The owner’s fun design, decorating style and finishes make this home a delight to see! 2 car garage also features walk-up 2nd floor storage. Convenient location within the Village just 2 blocks from downtown and 3 blocks to the beach! *Lower level bedroom windows are non-conforming due to height from floor.

12054 S Elk Run, Traverse City - SOLD

SOLD TRAVERSE CITY CONDOMINIUM

LISTING SOLD by Oltersdorf Realty LLC on 9/22/2022
12054 S Elk Run, Traverse City, MI – 2+ Bedroom, 2 Bath Cedar Creek Condominium
Asking Price: $435,000

This bright and cheerful Cedar Creek Condominium features a wonderful open floor plan, living room with vaulted ceiling and gas fireplace, kitchen with white cabinetry, 1416 sq. ft. of finished living area, 2 large bedrooms, main floor sun room, 1.75 baths, main floor laundry, a/c, private deck, and an attached 2 car garage! Vinyl sided exterior, brand new roof, and common grounds offer low maintenance living in a wonderful location adjacent to the Elmwood Township Park and just minutes to the TART trail and Downtown Traverse City.  Association amenities building offers an indoor swimming pool and exercise area! Association dues include road maintenance and snow plowing, lawn mowing, amenities building, and trash.

Lot 14 – S Cherry Tree Lane, Suttons Bay – SOLD

SOLD SUTTONS BAY WATER VIEW LOT

LISTING SOLD by Oltersdorf Realty LLC on 8/23/2022
Lot 14 – S Cherry Tree Lane, Suttons Bay, MI – Ridgetop Water View Building Site with 116’ of Private Frontage on West Grand Traverse Bay!
Asking Price: $399,000

Picture-perfect ridge top building site offering incredible panoramic bay views and 116’ of private direct water frontage on West Grand Traverse Bay! This stunning water view parcel features a level building site and potentially the ability to build a staircase down to your private beach on West Bay. The bluff height is estimated at 60-75 feet and has no visible signs of erosion, even after the record high water levels of the past few years. Natural gas & high speed cable internet/tv is available at the road. Wonderful quiet location on a dead-end private road within minutes to the year-round Village of Suttons Bay and just 20 minutes to Downtown Traverse City! Ideal spot to build your Leelanau County dream home! WHAT A VIEW!!!

3275 N Omena Point Road, Omena – SOLD

SOLD OMENA BAY WATERFRONT HOME

LISTING SOLD by Oltersdorf Realty LLC on 8/4/2022
3275 N Omena Point Road, Omena, MI – Ranch Home with 100’ of Southern Facing Frontage on Omena Bay!  
Asking Price: $1,150,000

Rarely available and highly desirable southern facing private frontage on Omena Bay within walking distance of charming and historic downtown Omena! Featured in the Parade of Homes at the time of construction, this beautiful custom built ranch home features an open great room with hardwood flooring, vaulted ceilings, 2 sided gas fireplace, a large kitchen island, a spacious main floor master suite, main floor laundry, and natural gas forced air heat with a/c. A full unfinished basement offers tall ceilings, an egress window, and rough plumbing for a 3rd full bath with potential for an additional bedroom and extra finished living space. Step outside to a heated 2 car attached garage with its own ½ bath, 0.78 acres, 2 additional storage buildings, and dock (included). The private beach is ideal for swimming, boating, relaxation, bonfires, and offers picturesque southern views of the clean turquoise waters of Omena Bay. Fantastic location for a year-round home, vacation property, or potentially a short term vacation rental in Leelanau County!

5237 Chestnut Court, Traverse City - SOLD

SOLD TRAVERSE CITY LONE TREE CONDOMINIUM

SOLD by Oltersdorf Realty LLC on 7/27/2022
5237 Chestnut Court, Traverse City, MI - 3 Bedroom, 3 Bath condo close to Downtown Traverse City!
Asking Price $439,000