September 2026 Northern Michigan Real Estate Market: Fewer Sales, Higher Prices & What Buyers and Sellers Need to Know
The Northern Michigan real estate market continues to tell an interesting story in 2026. September data shows fewer homes sold across several areas compared with last year, but prices remain elevated—and in some markets, they are climbing significantly.
For buyers and sellers in Grand Traverse, Leelanau, Benzie, Antrim, Kalkaska, Wexford and Missaukee counties, the message is clear: this is not a market where one number tells the whole story.
Here’s what the latest September 2026 data reveals.
Home Prices Continue to Rise Across the Five-County Area
Looking at Grand Traverse, Leelanau, Benzie, Antrim and Kalkaska counties, 267 single-family homes sold in September 2026, compared with 293 in September 2025.
That's a decrease in the number of transactions—but here's where things get interesting.
The average sale price jumped from $596,682 in September 2025 to $660,204 in September 2026, an increase of nearly 11%.
The median sale price also increased, moving from $420,000 to $426,000. Total sales volume remained remarkably strong, increasing slightly from approximately $174.8 million to $176.3 million despite fewer homes changing hands. Five County complete
What does that mean?
The market is seeing fewer transactions, but the properties that are selling are commanding higher prices.
That is an important distinction for homeowners considering selling and buyers trying to understand where the market is headed.
The Bigger Picture: 2026 Is Still Showing Strong Price Growth
The long-term data makes the trend even more apparent.
In September 2020, the five-county area's average single-family sale price was $357,613, with a median of $270,000.
By September 2026, those numbers had climbed to:
- Average sale price: $660,204
- Median sale price: $426,000
- 267 homes sold
- $176.3 million in sales volume
In other words, the average sale price in the five-county area has increased by more than 84% since September 2020, while the median has increased by nearly 58%. Five County complete
That's a significant shift in the Northern Michigan housing market.
Waterfront Properties Continue to Command a Premium
Waterfront real estate remains one of the strongest segments of the Northern Michigan market.
Year-to-date through September 2026, 357 residential properties with water sold across the five-county area. The median sale price for those properties was $899,000, compared with a $430,000 median for residential properties overall. September Quarterly 26
The average sale price for residential waterfront properties was even higher at approximately $1.19 million. September Quarterly 26
For buyers, that means waterfront inventory continues to represent a very different price category from the broader market.
For sellers, it reinforces the importance of understanding how location, water access, frontage, views and property characteristics influence value rather than relying solely on the overall county median.
Leelanau County Continues to Stand Out
If there is one area that deserves special attention, it's Leelanau County.
In September alone, 43 homes sold in Leelanau County, with an average sale price of $913,741 and a median of $750,000. Total September sales volume reached approximately $39.3 million. Leelanau Sold 2026
But the year-to-date numbers tell an even bigger story.
Through September 2026:
287 homes have sold in Leelanau County, compared with 281 during the same period in 2025.
The average sale price increased from $842,191 to $933,204, while total sales volume increased from approximately $236.7 million to $267.8 million. Leelanau Sold 2026
That's roughly a 10.8% increase in average sale price and a 13% increase in total sales volume year over year.
And while the median sale price remains at $650,000 year-to-date, the number of transactions and total dollar volume show continued strength in this market.
What About Wexford and Missaukee Counties?
The market looks somewhat different in the Wexford and Missaukee County area.
In September 2026, 40 single-family homes sold, compared with 54 in September 2025.
The average sale price, however, increased from $255,801 to $261,432, while the median sale price moved from $254,000 to $245,000. Average days on market improved from 79 days to 75 days. Two County Complete
This is another example of why looking only at the number of sales—or only at the average price—can create an incomplete picture.
Different communities and price points are behaving differently.
What Does This Mean for Buyers?
If you're thinking about purchasing a home in Northern Michigan, September's numbers provide a few important takeaways.
1. Don't assume prices are falling because fewer homes are selling.
The five-county area recorded fewer sales than September 2025, but the average sale price was considerably higher. Five County complete
2. Your budget matters more than ever.
With the five-county median now at $426,000, buyers need to understand what their budget can realistically purchase in the specific community they're targeting.
3. Location matters.
A home in Leelanau County, a waterfront property in Grand Traverse County and a home in Kalkaska County may all experience very different market conditions.
Northern Michigan isn't one market—it's a collection of very different local markets.
What Does This Mean for Sellers?
For homeowners considering selling, the data continues to support the idea that there is significant value in Northern Michigan real estate.
But higher prices don't mean every home will automatically sell quickly or at the price a homeowner expects.
In September 2026, the five-county area averaged 90 days on market for single-family homes. Individual counties varied considerably, from 65 days in Leelanau County to 103 days in Benzie County. Five County complete
That means pricing strategy, property condition, presentation and local market knowledge matter.
The goal isn't simply to put a home on the market.
It's to position it correctly.
The Most Important Trend May Be the One Happening Over Time
Perhaps the most compelling part of these statistics isn't what happened in September.
It's what has happened over the last decade.
Across the five-county area, the September median sale price increased from:
$187,250 in 2016 → $430,000 in 2026.
During that same period, the average sale price increased from $248,453 to $606,565. Five County complete
That's a dramatic transformation in the Northern Michigan housing market.
At the same time, the number of homes selling has generally declined from the much higher transaction levels seen earlier in the decade. September 2026 recorded 1,914 residential sales year-to-date in the five-county area, compared with 2,001 during the same period in 2025 and 2,429 in 2021. Five County complete
Fewer transactions + higher prices = a market that requires more thoughtful decision-making.
So, Where Is the Northern Michigan Market Headed?
The September 2026 numbers don't point to a simple "buyer's market" or "seller's market."
Instead, they point to a more nuanced, location-specific market.
Prices remain substantially higher than they were several years ago. Certain areas—particularly Leelanau County and waterfront properties—continue to command significant prices. Meanwhile, transaction volume is lower than in some previous years.
For buyers, that means patience, preparation and local expertise can make a difference.
For sellers, it means pricing correctly and understanding your property's specific market is more important than simply looking at a statewide or national headline.
And for anyone simply wondering, "What is my Northern Michigan home worth?"—the answer is going to depend on much more than the average sale price.
Thinking About Buying or Selling in Northern Michigan?
Real estate statistics are valuable, but your neighborhood, property type, price range and goals matter just as much as the broader market numbers.
Whether you're considering selling your Traverse City home, purchasing a Northern Michigan getaway, looking for waterfront property or exploring communities throughout the region, an experienced REALTOR® can help you understand how the numbers apply to your specific situation.
At Aspire North REALTORS®, we're proud to serve the communities that make Northern Michigan such a special place to call home.
Have questions about what these numbers mean for your home? Let's talk.
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Five County (Grand Traverse, Leelanau, Benzie, Antrim, Kalkaska)
