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Traverse City Market Report

$625,191

AVERAGE PRICE OF 809 HOMES

$2,382,433

AVERAGE PRICE OF 114 MULTI-MILLION DOLLAR HOMES

$774,966

AVERAGE PRICE OF 143 NEWLY BUILT HOMES

$567,645

AVERAGE PRICE OF 11 REDUCED PRICE HOMES

Average Home

Average Price	$625,191
Avg Bedrooms	1.47 beds
Avg Bathrooms	1.03 baths

Average Price by Bedrooms

1 bedroom	$422,935
2 bedrooms	$358,387
3 bedrooms	$684,945
4 bedrooms	$833,108
5 bedrooms	$903,239

Traverse City Home Price Trends

	1/2025	12/2024	11/2024	10/2024	9/2024
Total Listings	812	930	985	1,008	1,012
Average Price	$597,722	$612,505	$626,523	$642,151	$650,395
Avg Price Change	-2.47%	-2.29%	-2.49%	-1.28%	+0.27%
Median Price	$349,121	$359,796	$374,113	$393,230	$401,580
Med Price Change	-3.06%	-3.98%	-5.11%	-2.12%	+1.06%
Avg Bedrooms	1.43 beds	1.52 beds	1.62 beds	1.68 beds	1.72 beds
Avg Bathrooms	1 bath	1.06 baths	1.13 baths	1.19 baths	1.21 baths

Home Price by House Size

	Total Homes	Average Price	Avg Days on Site
All Homes	809	$625,191	164 days
Multi-Million Dollar Homes	114	$2,382,433	181 days
Newly Built Homes	143	$774,966	145 days
Reduced Price Homes	11	$567,645	68 days

Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS.
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