The Traverse City housing market is somewhat competitive. The median sale price of a home in Traverse City was $340K last month, down 1.4% since last year. The median sale price per square foot in Traverse City is $348, down 1.6% since last year.
What is the housing market like in Traverse City today?
In December 2024, Traverse City home prices were down 1.4% compared to last year, selling for a median price of $340K. On average, homes in Traverse City sell after 79 days on the market compared to 43 days last year. There were 27 homes sold in December this year, down from 32 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$340,000
-1.4% YoY | Dec 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Dec 2024
Growth
% YoY
Traverse City, MI
$340,000
-1.4%
United States
To compare other locations to the Traverse City and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Traverse City add value to a home.
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How hot is the Traverse City housing market?
Traverse City is somewhat competitive. Homes sell in 70 days.
0
100
33
Somewhat Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Some homes get multiple offers.
The average homes sell for about 3% below list price and go pending in around 70 days.
Hot homes
can sell for around list price and go pending in around 35 days.
All Home Types
Sale-to-List PriceAll Home Types
Sale-to-List Price
(All Home Types)
97.1%
-0.77 pt YoY | Dec 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Dec 2024
Growth
% YoY
Traverse City, MI
97.1%
-0.77 pt
United States
Traverse City Migration & Relocation Trends
No data on migration and relocation available in this area right now
Learn about migration trends in nearby cities
View houses in Traverse City that sold recently
Recently sold homes
SOLD JAN 17, 2025
$2,175,000 Last Sold Price
4 beds
3.5 baths
2,004 sq ft
15863 Waters Edge Dr Lot : 30, Traverse City, MI 49686
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Traverse City housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Traverse City.
Flood Factor - Major
29% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Traverse City has a major risk of flooding. 1,347 properties in Traverse City are likely to be
severely affected
by flooding over the next 30 years. This represents 29% of all properties in Traverse City. Flood risk is increasing slower than the national average.
<1% of properties are at risk of wildfire over the next 30 years
Fire Factor
Traverse City has a moderate risk of wildfire. There are 38 properties in Traverse City that have some risk of being affected by wildfire over the next 30 years. This represents <1% of all properties in Traverse City.
Traverse City has minimal risk of severe winds over the next 30 years
Wind Factor
Traverse City has a Minimal Wind Factor®, which means there is a very low likelihood that hurricane, tornado or severe storm winds will impact this area.