Traverse City, MI 49684 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Property Taxes

Liquidity & Velocity

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. median sold price is unavailable in the provided metrics; this prevents a direct transaction-based valuation point in this report and likely indicates the data source did not return recent closed-sale aggregates for the sample period rather than there being no sales—use caution and prioritize verified closed-sale data before making firm pricing decisions.
2. median listing price is $517,000 and, combined with a hot market temperature and an up price year-over-year trend, suggests seller-side pricing power persists; sellers should consider firm pricing strategies, while buyers should expect strong competition for well-priced, move-in-ready SFR and condo inventory.
3. median days on market is 145, which indicates notably slower sales velocity compared with what a hot market typically implies; this may suggest pricing friction or a mismatch between seller expectations and transaction prices—agents should emphasize targeted marketing and realistic pricing to reduce time to contract.
4. interest rate pressure is described as elevated while local 30-year fixed mortgage rates average 6.51%, which is lower than earlier 2026 peaks; this mixed signal (elevated interest-rate pressure vs. improving rates) suggests some buyers remain rate-sensitive—structure negotiation strategies and financing contingencies accordingly and prioritize buyers with rate certainty or bridge financing.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.