Leelanau County’s real estate market exhibited stability in September 2024, with 45 homes sold for a combined total of $31,961,588. This performance closely aligns with the previous year’s figures for September 2023, which recorded 44 homes sold totaling $33,756,313. Notably, the average sale price this year was $710,257, which, while lower than last year’s average of $767,188, shows a consistent market trend.
In contrast, the median price of homes sold in September 2024 rose to $570,000, an increase from $514,500 in September 2023, indicating a strengthening in the pricing structure of the market.
Regional Sales Trends
The overall sales across the five-county area have experienced a decline, primarily influenced by decreased activity in Grand Traverse County. Meanwhile, Benzie County showed a slight increase, while both Antrim and Kalkaska Counties reported minor decreases in sales.
Year-to-Date Performance
Year-to-date figures reveal that 275 homes have been sold in Leelanau County this year, maintaining a level similar to the previous two years (273 in 2022 and 277 in 2023). However, these numbers are significantly lower than historical peaks, such as 406 homes sold in 2021, and previous years have consistently seen totals near or above 300 homes since 2013, when only 198 homes were sold.
Financial Overview
The current total sales volume of $223,006,168 reflects an average sales price of $810,931, marking the highest average recorded in the county. The median sales price of $570,000 is slightly lower than last year’s figure of $575,000, yet demonstrates stability in the market’s pricing dynamics.
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