Leelanau County Housing Market Report January 2025•Leelanau County, Michigan

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Housing Prices in Leelanau County, MI

How much do homes in Leelanau County, MI cost?

Housing Market Conditions

Is Leelanau County, 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

Leelanau County is a Buyer's Market

Difference Since January 2024

At the same time last year, Leelanau County was a Seller's Market.

Insight

Leelanau County 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.
$629,600$328/SqFt
-$38,430
-5.8%

Based on all homes sold in the last 12 months

Insight

Homes in Leelanau County have sold for 5.8% less than they did a year ago.

Summary: The median home sold price in Leelanau County was $629,600 in January 2025, down 5.8% from last year, and the median price per square foot was $328.

Median Sold Price By Counties

Median Sold Price By Counties
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
Benzie County
+3.8%
Leelanau County
-5.8%

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 2024Jan 2025Change YoY
1$310K$225K
-27.4%
2$422.3K$500K
+18.4%
3$639.9K$550K
-14.1%
4$865.5K$825K
-4.7%
5$1.6M$1.6M
0.5%

Summary: Leelanau County housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -27.4%. The home price for 2 bedroom homes increased by +18.4%. The home price for 3 bedroom homes decreased by -14.1%. The home price for 4 bedroom homes decreased by -4.7%. The home price for 5 bedroom homes increased by 0.5%.

Housing supply in Leelanau County, MI

How many homes are available in Leelanau County, 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
51Last MonthJan 2025
482 months agoDec 2024
+6.3 %
Change MoMDec – Jan

Summary: The Leelanau County real estate market had 51 homes for sale in Jan 2025, a 6.3 % increase compared to Dec 2024.

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
7Last MonthJan 2025
142 months agoDec 2024
-50.0 %
Change MoMDec – Jan

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.
BedsDec 2024Jan 2025Change MoM
111
0.0%
2116
-45.5%
31923
+21.1%
4810
+25.0%
5911
+22.2%

Summary: Leelanau County housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -45.5%. The inventory for 3 bedroom homes increased by +21.1%. The inventory for 4 bedroom homes increased by +25.0%. The inventory for 5 bedroom homes increased by +22.2%.

Asking Price vs. Sold Price

How much do homes in Leelanau County, 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 Price4 Homes

Under Asking Price3 Homes

Insight

If you're buying a home in Leelanau County, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.

Summary: A total of 7 homes were sold or pending in Leelanau County in January 2025, down by 50.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 57% were sold at asking, and and 0% were sold over asking.

Days on Market for Leelanau County, MI

How long does it take to sell a home in Leelanau County, MI?

Breakdown of Home Sale Times

Under 30 Days4 Homes

30 – 90 Days2 Homes

Over 90 Days1 Home

Insight

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

Summary: During January 2025, 7 homes were sold in Leelanau County; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% 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
95 DaysThis YearJan 2025
69 Days1 year agoJan 2024
+36.4 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in Leelanau County had an average listing age of 95 days in Jan 2025, up by 36.4% compared to the previous year.

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Newest Listings in Leelanau County, MI

What homes are available in Leelanau County, MI?

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MLS Disclaimers and Copyright

Based on information from Northern Great Lakes Realtors MLS, RealComp II Ltd., and Michigan Regional Information Center LLC for the period 02/01/2023 - 02/01/2025

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: 2/21/2025, 12:20:51 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: 2/21/2025, 12:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/21/2025, 12:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.