Comprehensive market data and analysis• Updated Oct 2026
22.0 months of supply
High inventory favors buyers with more choices and negotiating power.
| Acreage | 30D | 3M | 6M | 12M |
|---|---|---|---|---|
| 0-1 acres | - | 3 | 5 | 7 |
| 1-2 acres | - | - | - | - |
| 2-5 acres | - | - | - | - |
| 5-10 acres | - | - | - | - |
| 10-20 acres | - | - | - | - |
| 20-50 acres | - | - | - | - |
| 50-100 acres | - | - | - | - |
| 100+ acres | - | - | - | - |
| TOTAL | 0 | 3 | 5 | 7 |
Acreage buckets
The median price for land in Elk Rapids, Michigan is currently $344K per acre. For a typical parcel, the median sale price is $199K. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $102K while premium lots reached $661K.
Elk Rapids, Michigan is currently a strong buyer's market with 22.0 months of supply. Buyers have more negotiating power and can take time to find the right property.
Elk Rapids, Michigan currently has 22.0 months of inventory supply. This indicates a strong buyer's market. High supply means buyers have plenty of choices and stronger negotiating position.
Land in Elk Rapids, Michigan typically sells within 243 days of listing. The median time on market is 66 days. Properties are moving slowly in the current strong buyer's market.
The current absorption rate in Elk Rapids, Michigan is 4.5% (3-month basis), indicating slow demand.
The median land price in Elk Rapids, Michigan stands at $199K. This translates to roughly $344K per acre for the typical parcel size. The average price is $308K, indicating some higher-priced properties pulling up the average.
There are currently 22 active listings in Elk Rapids, Michigan. 9 new listings have hit the market in the last 90 days. The median asking price is $200K.
Market statistics are compiled from multiple sources including LandyDandy listings, Zillow.com, Realtor.com, Redfin.com, county records, and MLS data. While we strive for accuracy, these figures are estimates and may not reflect 100% of market activity, and some transactions are reported late. The date at the top of the page is the report date. For the most accurate assessment of a specific property, we recommend consulting with a local real estate professional.
See land for sale and off-market property records in Elk Rapids on LandyDandy.
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