Is Leland, MI 49654 a buyer’s or seller’s market?

The Leland housing market right now

In the three months ending August 31, 2026, 25% of homes in Leland, MI 49654 sold above their list price, the typical home went under contract in 29 days and there were 4.4 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. With only 8 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking fell from 50%, homes sold faster (60 days then) and the median sale price rose 55% to $1,349,416. Overall, Leland is less competitive than a year ago, which gives buyers more room.

Within Leelanau County, homes here sell faster than in 75% of the county’s ZIP codes, and sell more often over asking than in 63%.

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.