Is Empire, MI 49630 a buyer’s or seller’s market?

The Empire housing market right now

In the three months ending August 31, 2026, 29% of homes in Empire, MI 49630 sold above their list price, the typical home went under contract in 47 days and there were 4.1 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 14 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 32%, homes sold about as fast and the median sale price fell 3% to $562,257. Overall, Empire is less competitive than a year ago, which gives buyers more room.

Within Leelanau County, homes here sell more slowly than in 62% of the county’s ZIP codes, and sell more often over asking than in 75%.

Nearby, buyers who want less competition could look at Cedar 49621 (12% sold over asking) or Northport 49670 (12% sold over asking), while Glen Arbor 49636 (33% sold over asking) and Suttons Bay 49682 (32% sold over asking) are even more competitive.