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Market Intelligence · MI / Grand Traverse County

Traverse City, MI home prices and housing market

4 ZIP markets liveData updated September 2026Typical value$437K1-yr changeUp2.2%

The typical home value in Traverse City, MI is $437K as of September 2026, up 2.2% from a year ago, based on the Zillow Home Value Index. In the typical Traverse City ZIP code, the median list price is $510K and homes spend a median of 60 days on market as of September 2026 (Realtor.com).

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The coverage

Traverse City, by the numbers.

Typical home valueZillow ZHVI, September 2026
$437K
1-yr changeMedian across Traverse City ZIPs
+2.2%
ZIP markets live
4
County
Grand Traverse County

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12-month value trend

+2.2% over 12 months

Typical home value in Traverse City over the last 12 months: $427K in Sep 2025 to $437K in Sep 2026 (+2.2%).

Sep 2025$427K

Sep 2026$437K

Median Zillow home value index across Traverse City's ZIP codes.

Context

Traverse City's housing market shows modest momentum. The typical home value reached $436,969, up 2.2% over the past year as of September 2026. Median list price stands at $509,950, with 416 homes currently for sale. New listings came in at 136 during the most recent month, and homes spend a median of 60 days on market. About 23.5% of listings have seen a price cut. For sellers, this is a balanced market that rewards well-priced homes but requires patience and realistic expectations.

The numbers

What is the housing market like in Traverse City, MI?

Typical home value

$437K

Up2.2%YoY

Median list price

$510K

Days on market

60

Homes for sale

416

Price cuts

23.5%

New listings

136

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026)

Figures reflect Traverse City's ZIP codes with market data: values and listing medians take the median across ZIPs; inventory and new listings are summed.

Prices over time

Traverse City, MI home prices over time

Typical home values in Traverse City, MI are up 2.2% over the past year, from $427K in September 2025 to $437K in September 2026.

Typical home value in Traverse City, MI, September of each year
MonthTypical value1-yr change
September 2026$436,969+2.2%
September 2025$427,409No prior year

Typical value is the median Zillow Home Value Index across Traverse City ZIP codes, taken in September of each year so every row compares the same month.

Market balance

Is Traverse City, MI a buyer's or seller's market?

Traverse City, MI leans toward a buyer's market.

Homes are taking longer to sell and homes for sale are building up relative to new listings, which gives buyers more room to negotiate.

Based on a median of 60 days on market and 23% of listings with a price cut in the typical Traverse City ZIP code, and 136 new listings against 416 active listings across Traverse City, as of September 2026 (Realtor.com).

The outlook

Traverse City housing market forecast 2027

+3.3%

Weighted average of Zillow's ZIP forecasts, 12 months to September 2027

A weighted average of Zillow's ZIP forecasts, across 4 Traverse City ZIP codes, points to typical home values rising 3.3% by September 2027.

Over the 12 months through September 2026, typical home values in Traverse City rose 2.2%, per the Zillow Home Value Index.

Will home prices drop in Traverse City?

The forecasts do not call for a drop: a weighted average of Zillow's ZIP forecasts for Traverse City shows typical home values rising 3.3% by September 2027, after a 2.2% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

How this is calculated: each ZIP code's 12-month Zillow forecast is weighted by its typical home value (Zillow Home Value Index, September 2026). 4 Traverse City ZIP codes have both figures.

Forecast: a weighted average of Zillow's ZIP forecasts (Zillow Home Value Forecast, published October 2026), calculated by Home Value Pros. A forecast, not a guarantee.

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Live markets

What ZIP codes are live in Traverse City?

Typical value is the Zillow home value index (ZHVI) for each ZIP, as of September 2026. 1-yr change compares it to the same ZIP a year earlier.

Zillow ZHVI, September 2026

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Common questions

Questions about Traverse City, MI home prices.

What is the typical home value in Traverse City?

The typical home value in Traverse City is $436,969, up 2.2% over the past year as of September 2026.

How long do homes typically stay on the market?

Homes in Traverse City spend a median of 60 days on market.

How many homes are currently for sale in Traverse City?

As of September 2026, there are 416 homes for sale in Traverse City, with 136 new listings added during the month.

Are home prices going up or down in Traverse City, MI?

Typical home values in Traverse City, MI are up 2.2% over the past year, based on the Zillow Home Value Index as of September 2026.

Is Traverse City, MI a buyer's or seller's market?

Traverse City, MI leans toward a buyer's market. Homes are taking longer to sell and homes for sale are building up relative to new listings, which gives buyers more room to negotiate. Based on a median of 60 days on market and 23% of listings with a price cut in the typical Traverse City ZIP code, and 136 new listings against 416 active listings across Traverse City, as of September 2026 (Realtor.com).

Nearby markets

More Michigan housing markets.

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