Beautiful 4 bedroom, 3.5 bath 2,800+ sq ft home located in popular Verndale subdivision in East Bay Township. High quality construction throughout, open great room with island kitchen and gas fireplace, large 3 car garage, partially finished basement, and much more!
Lot 166 - N Forest Beach Shores, Northport – SOLD
Experience the beauty of waterfront living with this stunning property that offers 50 feet of direct sandy private frontage and breathtaking views of Grand Traverse Bay! The vacant building site gradually slopes down to the water's edge, making it the ideal location for those seeking a serene spot for a primary or vacation home in Leelanau County. Rest assured, a recent soil evaluation has been conducted to ensure the suitability of a traditional on-site septic system. Located in the Cherry Home Shores development, this property is conveniently situated near the end of a quiet, low-traffic, and paved county-maintained road. The neighborhood offers a variety of amenities, including a clubhouse, tennis and basketball courts, natural gas, and high-speed internet and cable TV. This is the perfect place to relax and take in the picturesque views of the private frontage on Grand Traverse Bay! Lot location is just north of 14240 N Forest Beach Drive, Northport. All association info can be found at: https://cherryhomeshores.com/ , short term rentals are not allowed.
8853 Center Road, Traverse City - SOLD
JUST SOLD | $405,000 – 8853 Center Road, Traverse City, MI – Hard to find vacant lot on Old Mission Peninsula featuring 223’ of private frontage on East Grand Traverse Bay and a large 1.30 acre building site with incredible views!
2777 Old Barn Road, Traverse City - SOLD
Property Taxes - Notice of Assessments
Helpful info for all Michigan property owners! Within the next 1-2 weeks you should receive in the mail (if you haven’t already) your “2023 Notice of Assessment” which has your 2023 property tax information on it. We always get a lot of questions on these notices so hopefully these graphics are helpful! It's especially important to be properly assessed the first year after a property/home purchase, after the first year your taxable value is locked in and can only increase each year by the rate of inflation or 5%, whichever is less.
2022 Leelanau Principal Residence Exemption Percentages
What percent of Leelanau County residential properties were claimed as a primary home in 2022?
In 2022, only 46.0% of Leelanau County's residential properties were designated as primary homes. This statistic has remained relatively unchanged for over a decade, despite the growth of short-term rental platforms such as Airbnb and VRBO. Historically, Leelanau County has always been a popular destination for 2nd home owners and seasonal properties. While the number of short-term rentals has increased, data suggests that these properties are mostly being converted from second homes or traditional long-term rentals, not primary residences.
New Leelanau County Septic & Water Test Ordinance
Effective today 1/27/2023 mandatory septic inspections & water tests are now required on any home sale in Leelanau County! Septic systems must be evaluated within 36 months prior to transfer and acceptable water samples must be collected within 6 months prior to transfer.
Leelanau County Home Inventory 2004-2022
Leelanau County Home Inventory 2004-2022
Leelanau County home inventory remains near 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 2021-2022 where we saw record low inventory resulting in just a 1-2 month supply of available houses. This record low inventory in 2022 resulted in just 15% of the total amount of houses come on the market that we saw in 2010. Currently in January 2023 we have a 1 month supply of available existing homes with less than 34 available houses on the market throughout the entire county and only 20 listed for sale <$1 million. 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 at least 2023.
Where did 2022 Leelanau Homebuyer's come from?
Where did 2022 Leelanau County homebuyer’s come from? In 2022 there were 333 buyers of residential real estate within Leelanau County. 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. In 2022 40.80% 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 homebuyer’s from other areas in the United States, especially out west in Colorado, California, and Texas.
What did Leelanau County Homebuyer’s Purchase in 2022?
In Leelanau County there were 333 residential home sales in 2022. What did Leelanau County home buyer’s purchase last year?
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61.5% of all 2022 Leelanau County homes sales sold for more than $500,000. Leland and Glen Arbor Township combined for 32% of all residential sales volume, and 32% of all home sales were waterfront or condominiums. Purchasing a home in the first 9 months of 2022 often led to multiple offers due to extremely low home inventory, especially at entry level pricing or within the waterfront market. The market did see a slow down towards the end of 2022 as inventory numbers decreased heading into winter.
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
2022 Leelanau Home Buyer's - Cash or Financing?
In Leelanau County there were 333 residential home sales in 2022. Did they buy with cash or use financing?
39% of all home purchases in 2022 in Leelanau County were bought with cash, down from 43% in 2021. This compares to Grand Traverse County which had 34% of the houses bought with cash in 2022, up from 30% 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
2022 Leelanau County Waterfront Home Sales
2022 Leelanau County Year-End Waterfront Home Sales Data
Leelanau County Private Waterfront Home Sales data 2005-2022 for houses with direct 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 only homes with private direct water frontage. 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
Leelanau Home Sales vs S&P 500
How does the Leelanau County Housing Market compare to the S&P 500 dating back to 2004? Check out the chart above to see the yearly average and median home sales price in Leelanau County compared to the year-end S&P 500 closing price on December 31 each year.
2022 Leelanau County Year-End Home Sales Data
2022 Leelanau County Year-End Home Sales Data
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The 2022 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, 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 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 2022 continued to set new all-time record highs in pricing although total inventory and sales are trending much lower. In 2022 Leelanau County Home Sales Average Price increased +26.28%, Median Price increased +9.42%, Sales Volume decreased -11.47%, and Units Sold decreased -29.89%.
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
Leelanau Enterprise Article 1/19/23
Jonathan Oltersdorf was recently interviewed by the Leelanau Enterprise and the story was published in the 1/19/23 edition. Check it out! Jonathan talked about the current state of the housing market in Leelanau County.
You can view a PDF of the article by clicking HERE!!
6140 S West Bay Shore Drive, Traverse City – SOLD
One level living is enjoyed within this 3 bedroom, 3.5 bath ranch home offering 2,136 sq ft of finished living area, an open great room with vaulted beamed ceilings, family room/den with built-ins (could be converted to a 4th bedroom), beautiful LaFata hickory kitchen cabinetry, and a large master bedroom with 2 en-suite full baths! Quality features throughout include West Bay views, 2x6 construction, Andersen and Pella windows, newer shingles and mechanicals, spacious front and rear decks, wonderful storage, 2 car insulated attached garage and a 1,040 sq ft heated detached stick built workshop/garage on ~2.00 acres! Step outside to a private park like rear yard backing to woods in a wonderful location just 0.5 miles to a waterfront township park with a sandy beach on West Bay (Boughey Park) and within 1.5 miles of a public boat launch on West Bay (Hilltop Road). Situated just 9 miles north of Traverse City in beautiful Leelanau County!
2022 Leelanau County Year-End Vacant Land Sales Data
2022 Leelanau County Year-End Vacant Land Sales Data
Units Sold: -32.52%
Volume Sold: -32.72%
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The 2022 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, 2022. 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.
After a huge record setting year in 2021 vacant land sales throughout 2022 reverted back towards the yearly average but still came in with the 2nd highest volume sold all time.
The total number of building permits issued throughout Leelanau County and the total value of those building permits also took a step back in 2022. Builders have struggled to keep up with the building demand.
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
10829 Talon Court, Traverse City - SOLD
Stunning views of East Grand Traverse Bay are enjoyed from throughout this 4 bedroom, 2.5 bath, 4131+ sq ft home in desirable Eagles Landing on Old Mission Peninsula! Additional home features include 1.36 acres, 272’ of shared East Bay Frontage, private boat dockage/slip, and so much more!
2022 Grand Traverse County Home Sales Data
2022 Grand Traverse County Year-End Home Sales Data
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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/