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Traverse City

Why you'd want to live in Traverse City

Traverse City, MI, located on the shores of Lake Michigan's Grand Traverse Bay, is renowned for its natural beauty, vibrant tourism industry, and outdoor recreational opportunities. Known as the "Cherry Capital of the World," the city hosts the annual National Cherry Festival, drawing visitors from around the country. Traverse City offers picturesque landscapes, including vineyards, wineries, and rolling hills, making it a popular destination for those seeking a mix of scenic tranquility and cultural charm. Its thriving downtown features a variety of shops, restaurants, and art galleries, adding to the city's appeal as a year-round destination for both tourists and residents.

Traverse City Market Report

$690,932

AVERAGE PRICE OF 1,032 HOMES

$2,181,649

AVERAGE PRICE OF 185 MULTI-MILLION DOLLAR HOMES

$995,364

AVERAGE PRICE OF 198 NEWLY BUILT HOMES

$895,000

AVERAGE PRICE OF 2 HOMES WITH A POOL

$561,184

AVERAGE PRICE OF 13 REDUCED PRICE HOMES

$1,451,070

AVERAGE PRICE OF 31 DISTRESSED HOMES

Average Home

Average Price $690,932
Avg Bedrooms 1.53 beds
Avg Bathrooms 1.32 baths

Average Price by Bedrooms

1 bedroom $450,816
2 bedrooms $533,221
3 bedrooms $1,033,309
4 bedrooms $1,162,911
5 bedrooms $1,223,484
Traverse City Home Price Trends
  3/2025 2/2025 1/2025 12/2024 11/2024
Total Listings 1,732 1,764 1,814 2,097 2,228
Average Price $654,135 $691,666 $634,750 $649,936 $656,945
Avg Price Change -5.74% +8.97% -2.39% -1.08% -2.19%
Median Price $395,763 $393,680 $369,969 $376,597 $388,676
Med Price Change +0.53% +6.41% -1.79% -3.21% -4.10%
Avg Bedrooms 1.45 beds 1.44 beds 1.43 beds 1.52 beds 1.61 beds
Avg Bathrooms 1.24 baths 1.24 baths 1.21 baths 1.29 baths 1.34 baths
Home Price by High School
School Name Total Homes Average Price Avg Days on Site
Traverse City High School 2 $65,000 24 days
Total Homes Average Price Avg Days on Site
All Homes 1,032 $690,932 154 days
Multi-Million Dollar Homes 185 $2,181,649 169 days
Newly Built Homes 198 $995,364 189 days
Homes with a Pool 2 $895,000 31 days
Reduced Price Homes 13 $561,184 92 days
Distressed Homes 31 $1,451,070 211 days
Real Estate For A CAUSE
8200 South Saginaw Street, Suite 200
Grand Blanc, MI 48439
810-344-7275

Fair Housing/Equal Opportunity
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