Traverse City, MI metro area Housing Market
Cold 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: January 2026
Median Sale Price
$387K
↑ 9.3% YoY
Days on Market
79 days
↓ 21.0% YoY
Active Inventory
665
↓ 7.6% YoY
Homes Sold
127
↓ 15.9% YoY
Cold Market
Inventory is high and homes are sitting longer — a buyer's market.
Traverse City, MI metro area Market Summary
The Traverse City, MI metro area housing market is cooling down. As of January 2026, the median home sale price is $387K, up 9.3% year-over-year. Homes are spending a median of 79 days on the market, 21.0% shorter than a year ago.
There are 665 homes for sale — 7.6% fewer than last year. With 5.2 months of supply, this is a balanced market. 122 new listings were added during this period, down 37.1% year-over-year.
Homes are selling for 95.4% of their list price on average, suggesting room for negotiation. 13.4% of homes sell above their asking price. 15.3% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
81
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. High inventory relative to sales pace means buyers have options and sellers may be flexible on price.
Traverse City, MI metro area Market Trends
Median Sale Price
Median Days on Market
Active Inventory
Homes Sold
Price per Square Foot
Sale-to-List Ratio
New Listings
Listings with Price Drops
Detailed Market Metrics
Median List Price
$435K
Price per Sq Ft
$269
Sale-to-List Ratio
95.4%
Months of Supply
5.2
Sold Above List
13.4%
Price Drops
15.3%
New Listings
122
↓ 37.1% YoY
Pending Sales
185
Off Market in 2 Weeks
22.7%
Other Markets in Michigan
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Flint, MI metro area
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Kalamazoo, MI metro area
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Ann Arbor, MI metro area
$400K · 79d on market
Jackson, MI metro area
$195K · 58d 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.