Traverse City, MI metro area Housing Market
Cool MarketComprehensive housing market data for the Traverse City, MI metro area metro area. Track home prices, inventory, days on market, and competition — updated monthly for real estate investors.
Data period: March 2026
Median Sale Price
$417K
↑ 8.4% YoY
Days on Market
52 days
↓ 34.2% YoY
Active Inventory
659
↓ 7.6% YoY
Homes Sold
154
↓ 23.0% YoY
Cool Market
Buyer activity is slowing, creating more negotiating room.
Traverse City, MI metro area Market Summary
The Traverse City, MI metro area housing market is cooling down. As of March 2026, the median home sale price is $417K, up 8.4% year-over-year. Homes are spending a median of 52 days on the market, 34.2% shorter than a year ago.
There are 659 homes for sale — 7.6% fewer than last year. With 4.3 months of supply, this is a balanced market. 228 new listings were added during this period, down 7.3% year-over-year.
Homes are selling for 98.5% of their list price on average, suggesting room for negotiation. 27.3% of homes sell above their asking price. 12.0% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
70
Contributing Factors
How This Market Compares
vs. National Median
vs. Michigan Median
Investor Takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage.
Traverse City, MI metro area Market Trends
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Detailed Market Metrics
Median List Price
$446K
Price per Sq Ft
$290
Sale-to-List Ratio
98.5%
Months of Supply
4.3
Sold Above List
27.3%
Price Drops
12.0%
New Listings
228
↓ 7.3% YoY
Pending Sales
238
Off Market in 2 Weeks
39.9%
Other Markets in Michigan
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$200K · 37d on market
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$358K · 18d on market
Lansing, MI metro area
$230K · 40d on market
Flint, MI metro area
$200K · 36d on market
Ann Arbor, MI metro area
$410K · 40d on market
Kalamazoo, MI metro area
$295K · 22d on market
Muskegon, MI metro area
$238K · 31d on market
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Try It FreeHousing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.