Elmwood Charter Township Housing Market Report February 2025•Leelanau County, Michigan

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Housing Prices in Elmwood Charter Township, MI

How much do homes in Elmwood Charter Township, MI cost?

Housing Market Conditions

Is Elmwood Charter Township, 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

Elmwood Charter Township is a Seller's Market

Difference Since January 2025

Last month, Elmwood Charter Township has remained a Seller's Market.

Insight

Elmwood Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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.
$680,000$296/SqFt
+$130,000
+23.6%

Based on all homes sold in February 2025

Insight

Homes in Elmwood Charter Township have sold for 23.6% more than they did a month ago.

Summary: The median home sold price in Elmwood Charter Township was $680,000 in February 2025, up 23.6% from last month, and the median price per square foot was $296.

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.
BedsJan 2025Feb 2025Change MoM
1--
N/A
2-$249K
N/A
3$310K-
N/A
4$550K$680K
+23.6%
5$1.0M$896K
-13.4%

Summary: Elmwood Charter Township housing price by bedroom type for February 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes did not change. The home price for 4 bedroom homes increased by +23.6%. The home price for 5 bedroom homes decreased by -13.4%.

How does Elmwood Charter Township, MI compare with other places?

Market comparison tool

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

Elmwood Charter Township, MI

Housing supply in Elmwood Charter Township, MI

How many homes are available in Elmwood Charter Township, 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
13Last MonthFeb 2025
112 months agoJan 2025
+18.2 %
Change MoMJan – Feb

Summary: The Elmwood Charter Township real estate market had 13 homes for sale in Feb 2025, a 18.2 % increase compared to Jan 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
4Last MonthFeb 2025
32 months agoJan 2025
+33.3 %
Change MoMJan – Feb

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.
BedsJan 2025Feb 2025Change MoM
223
+50.0%
100
0.0%
323
+50.0%
455
0.0%
522
0.0%

Summary: Elmwood Charter Township housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 2 bedroom homes increased by +50.0%. The inventory for 1 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +50.0%. 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 Elmwood Charter Township, 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 Price3 Homes

Insight

If you're buying a home in Elmwood Charter Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Elmwood Charter Township in February 2025, up by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and and 0% were sold over asking.

Days on Market for Elmwood Charter Township, MI

How long does it take to sell a home in Elmwood Charter Township, MI?

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days2 Homes

Over 90 Days2 Homes

Insight

Avg time on Rocket Homes in Elmwood Charter Township has remained consistent over time.

Summary: During February 2025, 4 homes were sold in Elmwood Charter Township; 0% of homes were sold within 30 days, 50% 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.
Last Month1 month agoChange MoM
87 DaysLast MonthFeb 2025
59 Days1 month agoJan 2025
+45.8 %
Change MoMJan – Feb

Summary: Homes in Elmwood Charter Township had an average listing age of 87 days in Feb 2025, up by 45.8% compared to the previous month.

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Newest Listings in Elmwood Charter Township, MI

What homes are available in Elmwood Charter Township, MI?

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MLS Disclaimers and Copyright

Based on information from Northern Great Lakes Realtors MLS, and RealComp II Ltd. for the period 01/01/2025 - 03/01/2025

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: 3/14/2025, 8:20:50 PM 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: 3/14/2025, 8:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.