Photo: rossograph · CC BY-SA 4.0362 homes sold in Traverse City in the last year, at a typical $406K
Houses and condos split the market almost evenly. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Traverse City homes are listed.
Every place Traverse City homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Traverse City.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Half of Traverse City’s sales are condos, at $32K less than a house
178 houses and 176 condos sold in the year to May 2026. Houses sell faster and draw more bidding wars.
typical sale · 178 sold in 12 months
- Per square foot
- $317MI $172
- Days to sell
- 57
- Sold over asking
- 21%
- Listings with a price cut
- 26%
typical sale · 176 sold in 12 months
- Per square foot
- $401MI $190
- Days to sell
- 84
- Sold over asking
- 11%
- Listings with a price cut
- 17%
Multi-family (2–4 units): 8 sold, typical $528K
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 1.7 times the 2016 price
362 sales in the last year, against 515 in 2021 and a low of 284 in 2012. The typical sale went from $239K in 2016 to $406K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $400K buys in Traverse City
Check a listing against what Traverse City homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Traverse City are back to pre-pandemic levels, with about as many homes for sale
We read every month of Traverse City’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 362 sales.
If you’re buying in Traverse City
- Shop in April. It brings about 55 new listings a month, close to the busiest month, with fewer bidding wars (18% over asking).
- Offer under asking. Buyers paid 97.3% of the list price on average; 16% paid over.
- You’ll usually have time. Only 29% of homes go under contract within two weeks; the typical one takes 74 days.
Spring brings both the most homes and the most bidding wars
May has the most new listings (about 63 a month), and the most competition: 31% close over asking. April offers nearly as much choice with fewer homes bid up (18%). January has the least competition (16%) but only about 30 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and calmer than Michigan
| Traverse City now | 2017–19 | 2021 peak | MI now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 16% | 14% | 36% | 31% |
| Gone within two weeksShare of homes under contract within 14 days | 29% | 7% | 11% | 43% |
| Listings with a price cutShare of homes for sale that cut their price | 20% | — | — | 28% |
| Price paid vs. askingAverage sale price ÷ list price | 97.3% | 97.9% | 101% | 98.4% |
| Days to sellMedian days from listing to contract | 74 | 80 | 54 | 33 |
155 homes for sale on a typical day
That’s 1.3 times the 2023 low (117), about the 2017–19 level and well under 2015’s 243.
1 in 5 listings has cut its price
20% in the last year, against — in 2017–19 and 28% across Michigan.
Since 2019, houses are up 61%, condos 55%
A house typically sold for $430K in the last year (178 sales), a condo for $398K (176).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Traverse City ranks 188th of 194 busy Michigan markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Traverse City is one of the state’s calmer markets.
Source: Redfin Data Center, city figures, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Traverse City home costs about $2,499 a month
Price: Traverse City’s typical sale, last 12 months. Property tax at Traverse City’s 1.1% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Traverse City is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in May
The month with the most choice. December has the fewest, about 19.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $406K home, about $4,560 a year.
Taxes vs. neighborsSchools
The schools grade for Traverse City, from test results, graduation and how much students grow.
Schools in Traverse CityTypical commute
The average one-way trip to work for people who live in Traverse City.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Greilickville, Chums Corner, Grawn, Kingsley and Rapid City sell for less a square foot
The busier markets within 25 miles of Traverse City, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Traverse City | 362 | $406K | $358 | 16% | 74 |
| Greilickville | 33 | $509K | $257 | 27% | 61 |
| Kingsley | 31 | $358K | $216 | 23% | 63 |
| Chums Corner | 30 | $493K | $260 | 17% | 48 |
| Grawn | 25 | $252K | $222 | 24% | 47 |
| Empire Township | 25 | $552K | $380 | 52% | 155 |
| Rapid City | 21 | $360K | $241 | 10% | 66 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Traverse City, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Traverse City. People who follow the town see it, and so do people comparing Traverse City with their own town. No commission, no listing fee.
Questions about buying a home in Traverse City
What do homes sell for in Traverse City, MI?
362 homes sold in the year to May 2026 at a typical $406K, $358 a square foot. Houses sold for about $430K, condos for about $398K.
Is Traverse City a buyer’s or seller’s market?
A balanced market: 155 homes were for sale in May 2026 and 26 sold, about 6 months of supply. Buyers paid 97.3% of asking on average, and 20% of listings cut their price.
When is the best time to buy in Traverse City?
May brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Traverse City?
About 1.1% of a home’s value a year. On a $406K home that’s near $4,560.
Where can I see homes for sale in Traverse City?
Zillow, Redfin, Realtor.com and Homes.com all carry Traverse City’s MLS listings; the search links above open each one filtered to Traverse City.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).