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Elk Rapids Housing Market Report July 2025•Antrim County, Michigan

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Housing Prices in Elk Rapids, MI

How much do homes in Elk Rapids, MI cost?

Housing Market Conditions

Is Elk Rapids, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Elk Rapids is a Buyer's Market

Difference Since July 2024

At the same time last year, Elk Rapids was a Seller's Market.

Insight

Elk Rapids is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$431,000$292/SqFt
+$6,000
+1.4%

Based on all homes sold in the last 12 months

Insight

Homes in Elk Rapids have sold for 1.4% more than they did a year ago.

Summary: The median home sold price in Elk Rapids was $431,000 in July 2025, up 1.4% from last year, and the median price per square foot was $292.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Elk Rapids Township
+2.0%
Elk Rapids
+1.4%
Williamsburg
-5.5%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJul 2024Jul 2025Change YoY
1$400K$252.5K
-36.9%
2$385K$323.7K
-15.9%
3$568.7K$348K
-38.8%
4$408.5K$640K
+56.7%
5$1.4M-
N/A

Summary: Elk Rapids housing price by bedroom type for July 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -36.9%. The home price for 2 bedroom homes decreased by -15.9%. The home price for 3 bedroom homes decreased by -38.8%. The home price for 4 bedroom homes increased by +56.7%. The home price for 5 bedroom homes did not change.

How does Elk Rapids, MI compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Elk Rapids, MI

Housing supply in Elk Rapids, MI

How many homes are available in Elk Rapids, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
25Last MonthJul 2025
182 months agoJun 2025
+38.9 %
Change MoMJun – Jul

Summary: The Elk Rapids real estate market had 25 homes for sale in Jul 2025, a 38.9 % increase compared to Jun 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
2Last MonthJul 2025
32 months agoJun 2025
-33.3 %
Change MoMJun – Jul

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJun 2025Jul 2025Change MoM
134
+33.3%
237
+133.3%
3911
+22.2%
422
0.0%
511
0.0%

Summary: Elk Rapids housing inventory by bedroom type for July 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +33.3%. The inventory for 2 bedroom homes increased by +133.3%. The inventory for 3 bedroom homes increased by +22.2%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Elk Rapids, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price1 Home

Under Asking Price0 Home

Insight

If you're buying a home in Elk Rapids, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in Elk Rapids in July 2025, down by 33.3% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and and 0% were sold over asking.

Days on Market for Elk Rapids, MI

How long does it take to sell a home in Elk Rapids, MI?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days0 Home

Over 90 Days1 Home

Insight

Many homes in Elk Rapids are selling fast, if you're buying plan to act quickly.

Summary: During July 2025, 2 homes were sold in Elk Rapids; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
96 DaysThis YearJul 2025
50 Days1 year agoJul 2024
+90.5 %
Change YoYJul 2024 – Jul 2025

Summary: Homes in Elk Rapids had an average listing age of 96 days in Jul 2025, up by 90.5% compared to the previous year.

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Newest Listings in Elk Rapids, MI

What homes are available in Elk Rapids, MI?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Northern Great Lakes Realtors MLS, RealComp II Ltd., and Northern Michigan MLS for the period 08/01/2023 - 08/01/2025

Copyright © 2025 Northern Great Lakes REALTORS® MLS™ All Rights Reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 8/3/2025, 5:45:28 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXDisclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.

IDX provided courtesy of Realcomp II Ltd. Copyright © 2025 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 8/3/2025, 5:45:32 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing about said listings includes the listing office information. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2025 NM-MLS. All rights reserved
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 8/3/2025, 5:45:27 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.