Leelanau News and Events

By The Numbers: Leelanau Continues On A Real Estate Tear

By Ross Boissoneau | April 16, 2021

Real estate sales continue to show nearly unprecedented growth in the county. Last month, residential sales topped $21,000,000, besting all previous records for March.

A total of 39 homes were sold at a dollar volume of $21,320,319, for an average sales price of $546,674. Sales in March 2020 were 29 units at $11,493,185, or an average of $396,316. The highest number of homes sold previously was in March 2017, when 32 homes sold across the county, though the total of $10,724,834 and average of $335,151 both lagged behind last year. The average of 114 days on the market also was the best over the past decade. Last March, that number was 141.

Figures provided by the Northern Great Lakes Realtors MLS show continued strength across the region for the entire first quarter. Residential sales of 595 units included increases in both waterfront homes and condominium sales. That number was 582 for January through March of 2020. The corresponding dollar amounts jumped as well, to $210,666,022 from $163,397,361. The sales of vacant parcels more than doubled compared to the first quarter of 2020, at 376 (87 waterfront) versus 158 (32 waterfront). The total dollar amount more than tripled, at $46,965,210 compared with $13,109,799.

All real estate sales are bound to show greater strength over the next couple months compared to those from 2020.

Photo: A $699,000 waterfront lot in Northport, listed by Coldwell Banker Schmidt-Leland.

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