11255 E Fort Road, Unit D-1, Suttons Bay – SOLD

SOLD SUTTONS BAY YORK CONDO

LISTING SOLD by Oltersdorf Realty LLC on 1/25/2024
11255 E Fort Road, Unit D-1, Suttons Bay, MI – 3 Bedroom, 2 Bath York Condominium
Asking Price: $279,000

Wonderful location! This 3 bedroom, 2 bath end unit York Condominium offers an open living room and kitchen/dining with hickory wood floors and newer appliances, main floor bedroom & main floor full bath, natural gas forced air heat with A/C, and a finished walk out lower level with laminate maintenance free flooring throughout, 2 bedrooms and a 2nd full bath!  Shared amenities include an in-ground swimming pool, trails, tennis court, and a shared well & septic.  Low maintenance living in a very convenient location just 10-15 minutes from Downtown Traverse City! Association fee ($300/month) covers exterior building maintenance, lawn care, snow removal, garbage, shared septic & well. This is an end unit in the D building (4th building from Fort Road) which offers a quiet location within the 44 acre complex. New shingles to be installed in 2024/2025, assessment of $6,000 will be paid in full by the Seller at the closing of the sale with an acceptable offer.

What did Leelanau County Home Buyers Purchase in 2023?

Exploring Leelanau County Real Estate Trends in 2023

Discover the latest insights into Leelanau County's real estate market with a focus on key statistics from 2023. Gain valuable information about home sales, pricing trends, and the most active townships in the region.

In 2023, Leelanau County witnessed a dynamic real estate landscape, with notable trends shaping the housing market. A staggering 62.5% of all homes sold in the county surpassed the $500,000 mark, reflecting a robust market for higher-end properties.

Pricing Dynamics: The predominant price range for home sales in Leelanau County during 2023 was $400,000-$500,000, indicating a significant demand for homes within this bracket. Following closely, the $300,000-$400,000 range also garnered substantial attention, showcasing a diverse range of properties catering to varying budget preferences.

Township Analysis: Among the Leelanau County townships, 2 stood out as the leader in residential real estate sales volume for 2023. Explore the following options and identify the township that experienced the highest real estate activity:

  1. Elmwood

  2. Glen Arbor

  3. Suttons Bay

  4. Leland

  5. Empire

Conclusion: As you delve into the Leelanau County real estate landscape, these insights provide a comprehensive overview of the market dynamics in 2023. Whether you're interested in pricing trends or discovering the most active townships, this information serves as a valuable resource for anyone navigating the local housing market. Stay informed and make well-informed decisions in your real estate endeavors in Leelanau County by following Oltersdorf Realty on Facebook or Instagram.

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 

Analyzing the Origin of 2023 Leelanau County Homebuyers

Analyzing the Origin of 2023 Leelanau County Homebuyers

Wondering about the origin of Leelanau County homebuyers in 2023? We delved into the data, and out of the 357 buyers of residential real estate in Leelanau County that year, we've dissected their locations based on the primary mailing addresses at the time of purchase.

In 2023, a significant 44.1% of buyers hailed from zip codes within Leelanau County or Grand Traverse County (Traverse City). Interestingly, this percentage has shown a consistent decline since 2014, highlighting a shift in the local buyer landscape. Traditionally, our buyers were predominantly from locations within a 6-hour drive. However, the trend is evolving, as depicted in the chart above, showcasing an increasing influx of homebuyers from various areas across the United States, particularly from the western states like Colorado, California, and Texas.

Leelanau County Real Estate Performance vs. S&P 500: A Comprehensive Analysis

Leelanau County Real Estate Performance vs. S&P 500: A Comprehensive Analysis

Curious about how the Leelanau County Housing Market stacks up against the S&P 500 since 2006? Dive into the chart below for a detailed comparison of the annual average and median home sales prices in Leelanau County spanning from 2006 to 2023, juxtaposed with the year-end closing prices of the S&P 500 on December 31 each year. Explore the data and gain insights into Leelanau County's real estate trends.

2023 Leelanau Home Buyers - Cash or Financing?

 

In Leelanau County there were 357 residential home sales in 2023. Did they buy with cash or use financing?

In Leelanau County there were 357 residential home sales in 2023. 50% of all home purchases in 2023 in Leelanau County were bought with cash, up from 39% in 2022. This compares to Grand Traverse County which saw 35% of the houses bought with cash in 2023, up from 34% in 2022….

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 

2023 Grand Traverse County Year-End Home Sales Data

2023 Grand Traverse County Year-End Home Sales Data
(click photos below to enlarge)

Explore the 2023 Grand Traverse County (Traverse City) home sales data, comparing prices, volumes, and trends with the previous years. Discover insights on median pricing, average sale prices, and the overall real estate market in the region.

Explore the comprehensive 2023 year-end (January 1 – December 31) home sales figures for Grand Traverse County in the charts above. Compare real estate housing sales in the county from January 1, 2023, to December 31, 2023, with the corresponding periods in 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015, and 2014, covering townships such as Acme, Blair, East Bay, Fife Lake, Garfield, Grant, Green Lake, Long Lake, Mayfield, Paradise, Peninsula, Union, Whitewater, and the City of Traverse City.

Key 2023 Grand Traverse County Home Sales Statistics:

  • Home Sales Units Sold: -10.95% decrease (attributed to a lack of inventory)

  • Volume Sold: -3.44% decrease

  • Average Sales Price: +8.43% increase

  • Median Sales Price: +8.22% increase

This comprehensive report relies on sales data extracted from the Northern Michigan Realtors MLS spanning from 2004 to 2023. Please note that undisclosed sales and fractional ownership details are excluded. The information provided is intended for basic review purposes, with all efforts made for accuracy, though it cannot be guaranteed.

For further inquiries, contact Jonathan Oltersdorf at Oltersdorf Realty, LLC:

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

Leelanau County Home Sales Report 2023: Record Highs and Trends Revealed

Leelanau County Home Sales Report 2023: Record Highs and Trends Revealed

(click photos below to enlarge)

Explore the 2023 Leelanau County home sales data, comparing prices, volumes, and trends with the previous years. Discover insights on median pricing, average sale prices, and the overall real estate market in the region.

In the charts above, we present the comprehensive 2023 year-end home sales data (January 1 – December 31) for Leelanau County. This analysis compares real estate housing sales in the county during 2023 to the corresponding periods in 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015, and 2014, focusing on townships such as Bingham, Centerville, Cleveland, Elmwood, Empire, Glen Arbor, Kasson, Leelanau, Leland, Solon, Suttons Bay, and the City of Traverse City situated in the southeast corner of Leelanau County.

Leelanau County's residential home sales in 2023 continued to break new ground, achieving all-time record highs in median pricing. However, it's noteworthy that the average sale price witnessed a slight decline, primarily influenced by a decrease in luxury property sales. The key statistics for Leelanau County Home Sales in 2023 are as follows:

  • Average Price: Decreased by -3.81%

  • Median Price: Increased by +5.84%

  • Sales Volume: Increased by +2.81%

  • Units Sold: Increased by +6.89%

This comprehensive report is derived from sales information gathered from the Northern Michigan Realtors MLS spanning the years 2004 to 2023. The data excludes undisclosed sales and fractional ownership, ensuring transparency and accuracy. Please note that this report is intended for basic review purposes, and while every effort has been made for accuracy, it cannot be guaranteed.

For further inquiries or detailed information, feel free to reach out to Jonathan Oltersdorf of Oltersdorf Realty, LLC at 231-271-7777 or via email at jonathan@oltersdorf.com. Stay informed about the dynamic Leelanau County real estate market with our insights and analysis.

2024 Current Lake Michigan Water Levels

2024 Current Lake Michigan Water Levels

Lake Michigan Water Levels Up +1 Inch in 12 Months

For the 4th 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 holding steady and just +1 inches higher compared to this time in 2023 and -32 inches lower than this time in 2020! January 2020 - July 2020 saw record high water levels on Lake Michigan which caused massive investment in shoreline protection throughout Leelanau County and the region.

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 12, 2024.  

January 12, 2024                   578.90 feet

Difference from January 12, 2023: +1 inch

Difference from long term average: +5 inches

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

Difference from lowest monthly average (2013): +35 inches

Projected change in levels by Feb 12, 2024:  -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/

Current Mortgage Rates - January 2024

Annual Average 30 Year Fixed-Rate Mortgage Rates

After historically low mortgage rates in 2021 it was not a surprise to see mortgage rates rise in 2022 as the fed fought inflation and the 10 year treasury rates increased throughout the year. However, it was very much a surprise to see mortgage rates in Leelanau County and throughout the nation climb to as high as almost 8% at one point in 2023 before declining slightly to end the year. We finished 2023 with a monthly average mortgage rate of about 6.81% which was the highest since 2006!

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

2114 N Belanger Creek Drive, Suttons Bay - SOLD

Direct pond frontage and partial Bay views provide a wonderful setting to design your Leelanau County dream home! Located within 3 miles of the year-round Village of Suttons Bay this exciting development offers very private 1 to 3 acre parcels, 8.5 acres of common open space, a paved private road, 2100 ft of Belanger Creek frontage, and underground utilities including natural gas and cable high speed internet.

15383 Dunn Drive, Traverse City - SOLD

JUST SOLD on Old Mission Peninsula! 😍 Buyer's Agents --> Vicky Oltersdorf & Jonathan Oltersdorf. Asking Price: $3,400,000 | 15383 Dunn Drive, Traverse City, MI - 5 Bedroom, 5 Bath, 5,572 sq ft new custom home built in 2023 with 102' of western facing frontage on West Grand Traverse Bay! Listing photos courtesy of listing agent Ann Porter.

Leelanau Vacant Land Inventory Update - Fall 2023

12/1/2023 Leelanau County Vacant Land Inventory UPDATE! Although home inventory increased a small amount this year, vacant land inventory in Leelanau County remains at it's lowest level in 20+ years with just 120 available parcels on the market compared to 500+ parcels for sale in the summer of 2020 and nearly 1,000 parcels for sale during the summer of 2014!

Leelanau Home Inventory Update - Fall 2023

11/29/23 Leelanau County Home Inventory UPDATE! Good news, inventory actually increased in 2023!!! Throughout 2016-2020 we saw between 325-450 active houses on the market in the peak of summer, that number dropped to just 125 during the summer of 2021 and the summer of 2022 but INCREASED to about 175 available houses during the summer of 2023. This summer we went from 1-2 months up to 2-3 months of inventory of residential real estate in Leelanau County. Months of inventory is the relationship of sales pace to the number of properties currently on the market if no additional homes were added to the supply. Most economist agree that 6 months of inventory is a balanced market, less is a Seller’s market, and more than 6 months is a Buyer’s market. Note: The data is only for Leelanau County.

1093 S Peck Road, Suttons Bay – SOLD

SOLD SUTTONS BAY HOME

LISTING SOLD by Oltersdorf Realty LLC on 11/28/2023
1093 S Peck Road, Suttons Bay, MI – 3 Bedroom & 3 Bath Home Close to Downtown Suttons Bay!
$480,000

Wonderful location in Suttons Bay Township, situated just outside of the Village limits but only 1.2 miles to Downtown Suttons Bay! This 3 bedroom, 3 bath, wood sided year-round home offers a large main floor living room with a gas fireplace, cozy main floor rear family room addition with a gas stove, main floor primary bedroom with a private bath, main floor laundry, newer singles, and has been treasured by the same family since 1968! Step outside to an attached 240 sq ft workshop, detached oversized 30x24 garage, private rear deck, circulating pond, and a spacious 1.01 acre wooded lot on a low traffic road. New shingles in 2020 and a new septic system installed in 2019! An ideal setting for your year-round home, vacation home, or investment rental property in beautiful Leelanau County!

320 S Shabwasung Street, Northport – SOLD

SOLD NORTHPORT AFFORDABLE HOME

LISTING SOLD by Oltersdorf Realty LLC on 11/3/2023
320 S Shabwasung Street, Northport, MI – Affordable Fixer-Upper within the Village of Northport!
$198,500

Escape to the charming coastal Village of Northport with this cozy bungalow offered at a rare price point for this vibrant community! Whether you're seeking an owner-occupied residence, a vacation retreat, or an investment property, this home offers a unique opportunity you won't want to miss. Northport is a quaint, artistic coastal Village located along the shores of Grand Traverse Bay at the Northern tip of scenic Leelanau County and your gateway to boating, fishing, outdoor and lakeside enjoyment. Situated just steps from the Community Center and the Village waterfront park, entertainment, a swimming pool, shopping, library, restaurants, bakery, marina, schools and convenience! This cozy 2-bedroom, 1-bath bungalow offers 598 sq ft of living space, municipal water, and sewer (assessment paid in full). Relax and unwind in the enclosed back porch perfect for enjoying morning coffee or evening breezes.  This home is being sold in "as-is" condition, offering the perfect canvas for your vision. Great potential for those looking to invest in a thriving community and to own a piece of Leelanau County charm!

111 S Shore Drive, Suttons Bay – SOLD

SOLD SUTTONS BAY WATERFRONT HOME

LISTING SOLD by Oltersdorf Realty LLC on 10/25/2023
111 S Shore Drive, Suttons Bay, MI – Village of Suttons Bay Waterfront Home
$1,250,000

Introducing a remarkable waterfront property located within the charming year-round village of Suttons Bay! This exceptional parcel features 180 feet of private, hard sandy bottom direct water frontage on highly sought-after Suttons Bay – an ideal spot for swimming and boating! This one-level home offers 1,878 finished sq ft, including 3 bedrooms and 2 baths. The living room features a cozy fireplace, while a large kitchen with informal dining awaits those who have a passion for cooking and entertaining. A four-season sun porch/family room and a dining area with a second fireplace provide ample space for relaxation and hosting friends and family. Additional features include a heated and finished 2+ car attached garage, central A/C, and recent updates such as a new gas forced air furnace, all new attic insulation, and a newly landscaped yard. The low-maintenance vinyl-sided exterior, municipal water and sewer, and high-speed internet, offer convenience. A newer storage building is perfect for housing all of your water toys, and you'll love the ever-changing views and all the bay activities just steps from your door. This property is ideally situated for those who want to keep their boat on their private waterfrontage within a protected bay, and recently installed shoreline protection adds piece of mind. Located on a quiet dead-end village-maintained roadway, just a short walk from quaint shopping, quality restaurants, theater, library, marina, and so much more! Don't miss this rare opportunity to own your piece of Leelanau County paradise!

3692 Delta Drive, Traverse City - SOLD

SOLD TRAVERSE CITY RANCH HOME

SOLD by Oltersdorf Realty LLC on 10/18/2023
3692 Delta Drive, Traverse City, MI. 4 Bedroom, 3 Bath, 2,592 sq ft walkout ranch in Grand Traverse County!
$399,900 (Ask Price)

Recently sold by Jonathan Oltersdorf (Buyer's Agent) | $399,900 Ask Price | 3692 Delta Drive, Traverse City, MI. 4 Bedroom, 3 Bath, 2,592 sq ft walkout ranch in Grand Traverse County! Photo courtesy of listing agent Jenn Frankhouse, Re/Max Bayshore.

1758 S Cherry Blossom Lane, Suttons Bay – SOLD

SOLD SUTTONS BAY WATER VIEW HOME

LISTING SOLD by Oltersdorf Realty LLC on 10/23/2023
1758 S Cherry Blossom Lane, Suttons Bay, MI – Water View Home with 700’ Shared Frontage on Grand Traverse Bay!
$669,000

Enjoy West Bay views and shared sandy beach frontage with this beautifully appointed home offering an open great room with skylights and vaulted wood T&G ceilings, hickory wood flooring, a cozy gas stove, wonderful built-ins, and an open kitchen with newer quartz countertops, stainless steel appliances, and natural wood cabinetry. This home can be enjoyed as a year-round primary home or vacation retreat with over 2,230 sq. ft. of finished living area, 3 bedrooms, loft and office/den, 2.5 baths, and a 2 car heated attached garage! Additional features include 4 panel solid wood doors, Andersen and Pella windows and doors, hardwood and ceramic tile flooring, central A/C and lovely Bay views within the home and from the large wrap around front deck! The mature woods surrounding the home's wonderful yard enhance its sense of privacy. Wonderful area of quality homes offering 700’ of shared West Bay frontage and paved county maintained low-traffic roads located just 20 minutes from downtown Traverse City!