The typical home price in the small coastal town of Leland was more than $1.06 million in late 2024.
Located in Leelanau County, about 30 minutes north of Traverse City, the community had the largest year-over-year increase in home value with the typical price increasing by more than $71,500, according to an analysis of Zillow data by Stacker, a New Jersey-based data media company.
Using Zillow home values from December 2024, Stacker’s evaluators created a list of 50 Michigan cities with the fastest-growing home prices compared to values from 2023 and 2019.
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The Metro Detroit region had the most representation on the list, with 15 cities/townships in Oakland County and four in Macomb. Other highest-represented counties included Kent (7), Leelanau (5), Allegan (4), and Berrien (4).
Throughout Michigan, the typical home value in December was $241,165, according to Zillow’s home value index. Home values were up 4.7% from the same time in 2023.
Nearly 50% of houses were sold under list price, while about one in three sales were over the list price. Houses typically moved from “for sale” to “pending” status in three weeks.
Below is a database of the top 50 communities, their typical home values (35th to 65th percentile) as of December, and their price change in dollar value and percentage increase, according to Zillow data. You can type in a city/county in the search bar, and/or select a column header to change how the data is organized.
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MLive plotted the 50 communities on an interactive map. Hover over or select one of the colored circles to see the community and its available data.
Nationally, the typical home value in late 2024 was $358,461 — up 2.6% from a year ago. The typical home for sale moved to pending in around 29 days, and about 53% of sales went for under list price, compared to 27% sold over list price.
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