Overview
Predictions
Supply
Demand
3D Tour
$1,475,000
7
4Bds
4Ba
3,675sqft
Condo for sale
Kultura Real Estate
Skip to Main Content
Skip to Main Content 
Written By Aditya APopular Writer
3D Tour311 E 8th Street, Traverse City, MI 49684 
109 E Front St, Traverse City, MI 49684
128 W Gillis St, Traverse City, MI 49684
135 E 8th Street, Traverse City, MI 49684
New Construction
109 E Front St, Traverse City, MI 49684
Hot
134 Gillis St, Traverse City, MI 49684
134 Gillis St, Traverse City, MI 49684
3D Tour
230 Midtown Dr #Lot: 37, Traverse City, MI 49684
135 East 8th, Traverse City, MI 496843D TourNew Construction
207 W Grandview, TraverseCityCity_GrandTraverse, MI 49684 
145 E Eighth St, TraverseCityCity_GrandTraverse, MI 49684
145 E Eighth St, Traverse City, MI 49684
220 Midtown Dr, Traverse City, MI 49684
139 Uptown Ct, Traverse City, MI 496843D Tour
206 Midtown Dr #25, Traverse City, MI 496843D Tour
208 Gillis St, Traverse City, MI 49684 
Realcomp MLS-MI
MiRealSource MLS-MI
Downtown Traverse City, MIHousing Market
Downtown Traverse City in Traverse City is a buyer's market right now. Homes are selling for 91.15% of asking price and taking an average of 150 days to sell, giving you more time to compare your options, negotiate a better deal, and buy with confidence.
D
Reviewed By Deepika RHousing Market AnalystVerified Data
Updated Monthly
Fast Insights
Real-time Analytics
February 2026
Last updated
Live MLS Data |948 active homes tracked
|Data Sources:
Realcomp MLS-MI
Downtown Traverse City, MI Real Estate Market Snapshot
MEDIAN HOME PRICE
$399,000↑ 0.25%
MORTGAGE RATES 30-YR 30-YR FIXED
6.23%↓ 0.58%
STATUS
Buyer's Market
DAYS ON MARKET
150
↓ 39.00% YoY
INVENTORY
40
↓ 0.18% YoY
Is Now a Good Time to Buy in Downtown Traverse City? Here's What We Think
Yes, now is a good time to buy in Downtown Traverse City. The median sale price is $399,000, a marginal change from last year, and home sales saw no change over the same period. Buyers can use this data to gauge how much room there is to negotiate.
Median Sale Price
$399,000
↑ 0.25%YoY
Homes Sold
15
↓ 0%YoY
Median Days on Market
150
↓ 39YoY
What this chart showsMedian Sale Price
This metric shows how home prices are trending in Downtown Traverse City. The median sale price is currently $399,000, a marginal 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
Downtown Traverse City
Updated MonthlyLast Updated: February 2026
Downtown Traverse City Housing Market Forecast for 2026
Downtown Traverse City's housing market is expected to continue favoring buyers in 2026, with modest price growth, more inventory, and homes taking longer to sell.
Market Outlook:
- Home prices expected to rise modestly by 2-4%, reflecting cooling demand
- Sale-to-list ratio forecast to hold near 98-100%, keeping negotiating room in buyers' favor
- Homes being on the market longer gives buyers added leverage to negotiate price and terms
Will the Downtown Traverse City Housing Market Crash in 2026?
Expert consensus points to no. Downtown Traverse City continues to show steady demand and no signs of distressed selling. The shift toward more balanced conditions reflects a broader trend across Traverse City, not a downturn specific to this neighborhood. Buyers should expect more room to negotiate and a wider selection through 2026.
UnlikelyCrash MeterLikely
Current Market Indicators
Days on Market:
150 days
Months of Supply:
2.7 months
Sale-to-List Ratio:
91.15%
Mortgage Rates:
Currently- 6.23% projected to hover between 6.0% and 6.8%
Is There Enough Inventory in Downtown Traverse City Right Now?
Yes, buyers have plenty of options in Downtown Traverse City right now. The market has 40 active listings and 2.7 months of supply, giving buyers more choice and negotiating power. There were 11 new listings last month, while the inventory had a marginal change year-over-year.
Homes for Sale
40
↓ 0.18%YoY
Newly Listed Homes
11
↓ 0.45%YoY
Months of Supply
2.67
↓ 0%YoYBuyer's Market
What this chart showsHomes for Sale
This chart shows the total number of homes currently available for sale in Downtown Traverse City. There are currently 40 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
Downtown Traverse City
Updated MonthlyLast Updated: February 2026
Are Buyers or Sellers Controlling the Downtown Traverse City Market?
Buyers currently have the upper hand in the Downtown Traverse City housing market. Homes are selling for 91.15% of their asking price, and price reductions saw no change year-over-year. Frequent price cuts give buyers more room to negotiate and put pressure on sellers to compete.
Homes Sold Above List Price
0%
↓ 16.67%YoY
Homes with Price Drops
54.92%
↓ 0%YoY
Sale-to-List Ratio
91.15%
↓ 4.74%YoYBuyer's Market
What this chart showsSold Above List
The line tracks the share of homes in Downtown Traverse City selling above their asking price over time. Currently, 0% 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
Downtown Traverse City
Updated MonthlyLast Updated: February 2026
Find Your Perfect Downtown Traverse City Home Now
52 homes for sale in Downtown Traverse City, MI3D Tour$1,850,000
3
2Bds
3Ba
2,192sqft
Condo for sale
Reo-Tcrandolph-233022
$510,000
12
2Bds
2Ba
904sqft
Condo for sale
@Properties Christie'S Int'L
$312,000
10
1Bd
1Ba
620sqft
Condo for sale
Coldwell Banker Schmidt Traverse City
New Construction$1,656,360
3
3Bds
2Ba
1,860sqft
Condo for sale
Remax Bayshore - West Shore Dr Tc
Hot$540,000
12
2Bds
2Ba
904sqft
Condo for sale
Remax Bayshore - Union St Tc
$540,000
6
2Bds
2Ba
904sqft
Condo for sale
Remax Bayshore - Union St Tc
3D Tour$445,000
4
2Bds
2Ba
1,182sqft
Condo for sale
Century 21 Northland
$312,500
8
1Bd
1Ba
571sqft
Condo for sale
Coldwell Banker Schmidt Traverse City
3D TourNew Construction$1,634,150
2
1Bd
2Ba
1,421sqft
Condo for sale
The Mitten Real Estate Group
$285,000
4
1Bd
1Ba
708sqft
Condo for sale
Remax Bayshore - Union St Tc
$285,000
8
1Bd
1Ba
708sqft
Condo for sale
Remax Bayshore - Union St Tc
$395,000
7
2Bds
2Ba
1,182sqft
Condo for sale
Coldwell Banker Schmidt Traverse City
$2,850,000
2
4Bds
4Ba
4,930sqft
Condo for sale
Remax Bayshore - West Shore Dr Tc
3D Tour$449,000
5
2Bds
2Ba
1,182sqft
Condo for sale
Remax Bayshore - Union St Tc
3D Tour$560,000
9
2Bds
2Ba
1,026sqft
Condo for sale
Coldwell Banker Schmidt Traverse City
Download the App Now!
4.8-star mobile app
Browse 1.6 million listings
Get instant alerts for new homes
List homes on the go
Manage showings and submit offers
Frequently Asked Questions
How have Downtown Traverse City house prices changed over the past year?
Median home prices in Downtown Traverse City have seen a marginal change YoY, and now stand at $399,000. 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 Downtown Traverse City real estate market predictions for 2026?
House prices in Downtown Traverse City, Traverse City, Michigan, should remain stable in the coming months with continued seller advantage. However, affordability remains a consideration across the Michigan housing market, due to mortgage rates.
What's the median home price in Downtown Traverse City?
The median house price in Downtown Traverse City depends on the property type, size, and local market conditions. Condos cost around $399,000, while single-family homes average $887,500. 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 Downtown Traverse City?
August to December is typically the best time to buy a house in Downtown Traverse City, when supply is relatively higher and demand moderates. Before buying, check if mortgage rates are stable and assess the current housing market trends in Downtown Traverse City before you invest.
When will the Downtown 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 remain strong during peak seasons, and stabilize during slower periods. The market is projected to remain steady, with sustained growth through 2026 and beyond.
How to buy a home in Downtown 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 Downtown Traverse City, 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 Downtown 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 Downtown Traverse City?
February to July is typically the best time to sell a house in Downtown 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.
Data provided by Redfin, a national real estate brokerage.
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.
Users are responsible for conducting their own due diligence before making any real estate or financial decisions. Houzeo is not liable for any decisions or actions taken based on the information provided. Any unauthorized use, duplication, or distribution of the data may violate copyright laws and result in legal consequences. Certain information, tools and services on this page may be powered by third-party vendors. Houzeo does not control or guarantee the accuracy, reliability, or functionality of such third-party services.
Based on information from the Board/Association of REALTORS® (alternatively, from the Realcomp II Ltd. MLS) through Oct 9, 2026, 8:45 AM. 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, 8:45 AM . 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.