Overview
Predictions
Supply
Demand
$585,000
6
3Bds
3Ba
1,303sqft
Condo for sale
@Properties Christie'S Int'L
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Written By Aditya APopular Writer
151 E Railroad Ave, Traverse City, MI 49686 
New Construction
5037 Sheffer Farm Rd, Traverse City, MI 49685
1424 Randolph St, Traverse City, MI 49684
7211 Logan Ln, Traverse City, MI 49686
Price Drop: $10K
4520 Audubon Dr, Traverse City, MI 49686
Hot
391 Farmstead Ln, Traverse City, MI 49685
4520 Audubon Dr #Lot: 110, Traverse City, MI 49686New Construction
Hot
3D Tour
1335 W Outer Dr, Traverse City, MI 49685 Hot
1335 W Outer Dr #Lot: 38, Traverse City, MI 49685 
10810 S Orchard Way, Traverse City, MI 49684
1671 David Pl, Traverse City, MI 49686
293 Fisher Rd, Traverse City, MI 49685New Construction
3D Tour
No HOA
4270 Baywood Dr, Traverse City, MI 49686 3D Tour
14416 Peninsula Dr, Traverse City, MI 49686 
14416 Peninsula Dr #Lot: 9, Traverse City, MI 496863D Tour
229 Wellington St, Traverse City, MI 49686
1026 Centre St, Traverse City, MI 49686
Realcomp MLS-MI
MiRealSource MLS-MI
Traverse City, MIHousing Market
Traverse City is a balanced market, giving buyers and sellers room to negotiate. With 7.4 months of supply and homes averaging 53 days on the market, you can make decisions without the pressure of a highly competitive market.
D
Reviewed By Deepika RHousing Market AnalystVerified Data
Updated Monthly
Fast Insights
Real-time Analytics
September 2026
Last updated
Live MLS Data |943 active homes tracked
|Data Sources:
Realcomp MLS-MI
Traverse City, MI Real Estate Market Snapshot
MEDIAN HOME PRICE
$490,000↑ 22.81%
MORTGAGE RATES 30-YR 30-YR FIXED
6.23%↓ 0.58%
STATUS
Balanced Market
DAYS ON MARKET
53
↓ 11.67% YoY
INVENTORY
282
↑ 239.76% YoY
Is Now a Good Time to Buy or Sell in Traverse City? Here's What We Think.
It depends on your goals, but Traverse City offers a relatively balanced market for both buyers and sellers. Homes are averaging 53 days on the market, with 7.4 months of supply. The median sale price is $490,000, and home sales saw a 20.28% change from last year. Buyers have room to negotiate, while sellers can still attract serious interest.
Median Sale Price
$490,000
↑ 22.81%YoY
Homes Sold
114
↓ 20.28%YoY
Median Days on Market
53
↓ 11.67YoY
What this chart showsMedian Sale Price
This metric shows how home prices are trending in Traverse City. The median sale price is currently $490,000, a 22.81% change from last year. A rising median price can point to stronger demand or limited inventory, while a falling price may give buyers more room to negotiate.
Median Sale Price Trend
AllSingle Family HomesTownhousesCondo
1 Year3 Years5 Years
Traverse City
Updated MonthlyLast Updated: September 2026
Traverse City Housing Market Forecast for 2026
Traverse City's housing market is expected to be balanced in 2026, with modest price growth, steady inventory, and stable conditions for both buyers and sellers.
Market Outlook:
- Home prices expected to rise modestly by 2-4%, reflecting sustainable growth
- Months of supply forecast to sit around 4-6, keeping the market steady
- Neither buyers nor sellers hold a clear advantage, keeping negotiations balanced
Will the Traverse City Housing Market Crash in 2026?
Expert consensus points to no. Traverse City shows stable fundamentals, with demand and supply moving roughly in step rather than pulling in opposite directions. Both buyers and sellers should expect conditions to hold steady through 2026, with no signs pointing toward a downturn.
UnlikelyCrash MeterLikely
Current Market Indicators
Days on Market:
53 days
Months of Supply:
7.4 months
Sale-to-List Ratio:
97.38%
Mortgage Rates:
Currently- 6.23% projected to hover between 6.0% and 6.8%
Is There Enough Inventory in Traverse City Right Now?
Traverse City has a steady flow of homes coming onto the market, keeping inventory relatively balanced. There are currently 282 active listings and 7.4 months of supply, giving buyers a reasonable selection without creating excessive competition among sellers. There were 292 new listings last month, while inventory changed by 239.76% year-over-year.
Homes for Sale
282
↑ 239.76%YoY
Newly Listed Homes
292
↑ 52.08%YoY
Months of Supply
7.4
↑ 335.29%YoYBalanced Market
What this chart showsHomes for Sale
This chart shows the total number of homes currently available for sale in Traverse City. There are currently 282 active listings. Rising inventory gives buyers more options, while fewer homes for sale can increase competition and give sellers more leverage.
Homes for Sale Trend
AllSingle Family HomesTownhousesCondo
1 Year3 Years5 Years
Traverse City
Updated MonthlyLast Updated: September 2026
Are Buyers or Sellers Controlling the Traverse City Market?
Buyers and sellers have relatively equal footing in the Traverse City housing market. Homes are selling for 97.38% of their asking price, and price reductions saw a 19.4% change year-over-year. Neither side has a clear advantage, leaving room for both to negotiate.
Homes Sold Above List Price
16.81%
↑ 4.54%YoY
Homes with Price Drops
69.3%
↑ 19.40%YoY
Sale-to-List Ratio
97.38%
↓ 0.12%YoYBalanced Market
What this chart showsSold Above List
The line tracks the share of homes in Traverse City selling above their asking price over time. Currently, 16.81% of homes sold above asking last month. A rising trend signals strong buyer competition and bidding wars, while a falling trend suggests that competition is easing.
Homes Sold Above List Price Trend
AllSingle Family HomesTownhousesCondo
1 Year3 Years5 Years
Traverse City
Updated MonthlyLast Updated: September 2026
Find Your Perfect Traverse City Home Now
943 homes for sale in Traverse City, MINew Construction$750,000
3
3Bds
3Ba
2,808sqft
Single family home for sale
The Mitten Real Estate Group
$1,575,000
3
4Bds
4Ba
4,078sqft
Single family home for sale
The Morgan Group Real Estate
$724,000
6
5Bds
3Ba
3,274sqft
Single family home for sale
Kermath Realty Llc
Price Drop: $10K$519,500
3
4Bds
4Ba
3,550sqft
Single family home for sale
Reo - Elk Rapids-101308
Hot$437,900
15
3Bds
2Ba
1,428sqft
Single family home for sale
Remax Bayshore - Union St Tc
$519,500
5
4Bds
4Ba
3,550sqft
Single family home for sale
Reo - Elk Rapids-101308
New ConstructionHot3D Tour$1,597,500
14
3Bds
3Ba
2,012sqft
Single family home for sale
Coldwell Banker Schmidt Traverse City
Hot$1,597,500
12
3Bds
3Ba
2,012sqft
Single family home for sale
Coldwell Banker Schmidt Traverse City
$279,900
10
3Bds
2Ba
1,323sqft
Single family home for sale
Remax Bayshore - Union St Tc
$50,000
3
2Bds
2Ba
1,120sqft
Single family home for sale
Coldwell Banker Schmidt Traverse City
$875,000
7
4Bds
4Ba
3,532sqft
Single family home for sale
Coldwell Banker Schmidt Traverse City
New Construction3D TourNo HOA$489,000
6
5Bds
2Ba
2,185sqft
Single family home for sale
Best Homes Of Michigan Llc
3D Tour$549,000
9
2Bds
2Ba
1,880sqft
Single family home for sale
Five Star Real Estate - Front St Tc
$549,000
9
2Bds
2Ba
1,880sqft
Single family home for sale
Five Star Real Estate - Front St Tc
3D Tour$3,900,000
4
6Bds
6Ba
6,517sqft
Mansion for sale
Remax Bayshore - West Shore Dr Tc
$389,000
4
2Bds
3Ba
1,311sqft
Condo for sale
Coldwell Banker Schmidt Traverse City
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Frequently Asked Questions
How have Traverse City house prices changed over the past year?
Median home prices in Traverse City have seen a 22.81% change YoY, and now stand at $490,000. You can check your home's fair market value with our free home value estimator to compare prices in your neighborhood and know where you stand.
What are Traverse City real estate market predictions for 2026?
House prices in Traverse City, Michigan, should stabilize in the coming months. However, affordability remains a challenge across the Michigan housing market, due to rising mortgage rates.
What's the average home price in Traverse City?
The average house price in Traverse City depends on the property type, size, and local market conditions. Condos cost around $456,688, while single-family homes average $515,000. You can also find cheap homes for sale in Traverse City that fit your budget.
What is a good time to buy a home in Traverse City?
August to December is typically the best time to buy a house in Traverse City, when supply is high and demand is low. Before buying, check if mortgage rates are stable and ensure there's more than 6 months of housing inventory available. Make sure you assess the current housing market trends in Traverse City before you invest.
When will the Traverse City housing market crash?
According to housing market forecasts, the market is unlikely to crash in the near future. Home prices and demand should increase during the summer, and stabilize by winter. The market is projected to remain steady, with sustained growth through 2026 and beyond.
How to buy a home in Traverse City?
Set a clear budget and get a mortgage pre-approval. Then, explore homes for sale in Traverse City, submit your offers, secure loans, and complete the closing process.
How can I list my home for sale in Traverse City, MI?
You can list your home for sale with a Flat Fee MLS Michigan listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
What is the average mortgage rate for buyers in Traverse City?
The average mortgage rate for buyers fluctuates between 6.4% and 6.9%. It depends on the market and your credit score. Always check current rates with lenders before you apply.
What is a good time to sell a house in Traverse City?
February to July is typically the best time to sell a house in Traverse City, when demand is high and homes spend fewer days on the market. Carefully assess market trends in your specific area before you act.
Our MLS data sources
All sources updated daily
Median prices, rents and active inventory aggregated from MLS systems across Michigan.
Important Legal Disclosures
*Based on Houzeo calculations of home data from MLS and/or public records.
“The market analysis provided on this page is for informational purposes only and does not constitute financial, investment, or legal advice. Data is sourced from public records, industry reports, and third-party providers, and while Houzeo strives for accuracy, we make no guarantees regarding the completeness, accuracy, or timeliness of the information presented.
All estimates, projections, and historical data are based on statistical models and should not be relied upon as predictions of future market conditions. Past performance is not indicative of future results, and real estate market conditions may change due to various economic and regulatory factors.
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Based on information from the Board/Association of REALTORS® (alternatively, from the Realcomp II Ltd. MLS) through Oct 9, 2026, 2:30 PM. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified. IDX provided courtesy of Realcomp II Ltd. via Andover Real Estate & Houzeo, Copyright 2026 Realcomp II Ltd. Shareholders Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Listing Information presented by local MLS brokerage: Andover Real Estate, local REALTOR®- Scott Rubin - (248)206-3666 . Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. © 2024 Realcomp II Ltd. MLS. All Rights Reserved.
Based on information from MiRealSource through Oct 9, 2026, 2:30 PM . All information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Provided through IDX via MiRealSource, Inc. Courtesy of MiRealSource Shareholder. © 2026 MiRealSource. All Rights Reserved.