Traverse City, MI
Housing market overview · Updated weekly
$500,000median sale price
Homes sold
22
Last 12 weeks
Days on market
146
Average pace
Active listings
133
6.0 months supply
Sale-to-list
95.0%
Below asking
The Traverse City housing market is currently classified as a buyer's market with a median sale price of $500,000. Prices have risen 44.1% compared to last year, with homes spending an average of 146 days on market, indicating 6.0 months of inventory.This inventory level gives buyers significantly more negotiating power, allowing time to inspect properties thoroughly and potentially negotiate better terms.
Market trends
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Frequently asked questions
What is the average home price in Traverse City?
The median home sale price in Traverse City is $500,000, up 44.1% from last year.
How long do homes stay on market in Traverse City?
Homes typically spend 146 days on market before going under contract.
Is Traverse City a buyer's or seller's market?
With 6.0 months of supply, Traverse City is currently a buyer's market.
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