Leelanau News and Events

Fewer Homes Are Selling In Leelanau, Though Demand Remains High

March 17, 2023

Sales of residential real estate in Leelanau County remained on a downward trend last month. There were 19 homes sold for a total of $13,364,500, an average price of $703,394.

That compares favorably with last year’s total of 18 home sales, but the 2022 total of $16,196,225 produced an average price of $899,790. Despite the downturn in prices, the desire for homes remains. As proof, the average number of days a home is on the market dropped to 76 from 86.

Year-to-date, the 34 sales for January and February are the fewest in over a decade, matching the number from 2012. The dollar volume of $21,087,500 is below the $30,910,175 for January and February of last year, and the average is likewise lower, at $620,220 vs. the record $813,425 for 2022. Both years are far above previous year’s averages for the first two months of the year, traditionally a slower time for sales. However, the pandemic and resulting economic recovery and the burgeoning use of internet-based tools in the industry showed that traditions may no longer hold sway.


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