Leelanau Home Sales Drop, But Average Price Skyrockets

Dec. 14, 2022

Residential real estate sales continue to drop across the region, with 211 homes sold last month compared with 274 in November 2021 and 350 in November 2020. That decline was particularly evident in Leelanau County. Last month’s total of 19 homes sold was only half of November 2021’s total of 38 and far below the 58 sold in November 2020. But prices continue to escalate, with a volume last month of $15,133,400, producing an average sale price of $796,494. The total dollar volume for November 2021 was $20,868,550, for an average of $549,172.

Year to date, there have been 342 homes sold in the county, compared with 492 at this point last year. You have to go back to 2011 to find a smaller total number of homes sold. Total sales this year are $259,370,820, for an average sale price of $758,394. That compares with November 2021’s figures of $282,542,135 for an average of $574,272 per home sold.

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