Leelanau News and Events

Leelanau Real Estate Sales Continue To Soar

By Ross Boissoneau | Nov. 13, 2020

Sales of single-family homes in Leelanau County saw a giant jump last month from October 2019. According to data from the Traverse Area Association of Realtors, there were 84 sales totaling $44,339,120 in the county. That compares with 46 sales in October 2019 for $20,016,449.

The previous high for October was set in 2017, with 55 sales for $27,077,735. All these figures are far above 2011, when the region was just beginning to recover from the Great Recession; that October saw only 21 sales for $6,133,350.

The average price for homes sold last month in the county was $527,846. In October 2019, that figure was $435,140. In 2017, it was $492,322, and back in 2011 it was $292,064. Another data point used to measure the market is the number of days a home is for sale. Last month, that rose to 117 from 93 the same month in 2019; the number was 138 in 2017 and a whopping 247 back in October 2011.

Overall, the five-county region saw an increase of 86 units sold, from 355 in October 2019 to 441 last month, with a monetary gain from $104,783,992 to $179,305,433.

Photo: Suttons Bay log home listed for $859,900 by Real Estate One - Traverse City Front Street; sale pending.

 

 

 

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