As we moved from mid-July to mid-August, the Kelleys Island real estate market found a little more energy. After a quieter stretch in June and early July, a few more sales wrapped up, even as the number of available listings dipped and some sellers adjusted their prices to catch buyers’ attention.
From July 15 to August 15, 2025, three homes sold. On average, they brought in about 80% of their original asking price, or roughly 94% of the price after reductions. They spent an average of 83 days on the market before finding a buyer. That tells us that while buyers are taking their time, they’re still stepping in when the right home comes along. We also saw a high-end property, listed at over a million, move
into contract during this period, adding a bit more momentum.
The 30 days just before that, from June 15 to July 15, painted a different picture. No homes sold during that stretch, though three went under contract. Those ranged from the upper $400s to just under $1 million, with market times from about six weeks to more than three months. Buyers were clearly interested but deliberate, weighing their choices carefully before moving forward.
Land sales told a similar story. In late June, one lot closed at $180,000, about 90% of asking. But between mid- July and mid-August, no new sales closed. One property did go under contract and another was withdrawn, leaving fewer choices for land buyers compared with earlier in the summer.
Altogether, the market this midsummer feels steady but selective. Homes and land are selling, but not overnight, and pricing continues to play a big role. Sellers who adjust to today’s market are seeing results, while buyers are taking a thoughtful approach and waiting for the right fit.
Looking back at the same time last year, from July 15 to August 15, 2024, two homes sold. One was a smaller cottage that sold quickly at just under $400,000, while the other was a larger lakefront home that had originally been priced close to $2 million and eventually closed at $1.6 million after a couple of months. Interest rates were also similar. Freddie Mac reported 30-year fixed rates between 6.5% and 6.8% at this point last summer, compared with about 6.6% to 6.75% during the same period this year.
All in all, the island market is still moving, just with a calmer rhythm. For buyers, it’s a good time to look closely and make careful decisions. For sellers, it’s a reminder that the right price and a little patience can still make things happen here on Kelleys Island.
