Home ValuePros
Talk to a Pro

Market Intelligence · MI / Traverse City

Traverse City, MI 49685 Housing Market

The typical home value in Traverse City's 49685 ZIP is $433,706, up 2.6% over the past year. The median list price is $476,548, with homes taking a median 66 days to sell as of September 2026.

Updated September 2026Median value$434K

The median home value in Traverse City, MI 49685 is $434K as of September 2026, up 2.6% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

Get a cash offer

Sell without the wait

Sell your Traverse City home for cash.

A competitive, no-obligation cash offer from our institutional network. No repairs, no showings, close on your timeline. Most sellers get their cash offer within 24 hours.

Typical 49685 range

$399K to $468K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

Not sure cash is the right move? Discuss your options with a licensed local pro, free.

Track my home's value

Asset monitoring

Track your home's value.

A free monthly briefing with your estimated value and 49685 market stats. Unsubscribe anytime.

See how a cash offer works citywide: Sell your house fast in Traverse City, MI.

12-month value trend

+2.6% over 12 months

Typical home value in 49685 over the last 12 months: $423K in Sep 2025 to $434K in Sep 2026 (+2.6%).

Sep 2025$423K

Sep 2026$434K

The numbers

What is the 49685 housing market like?

Typical home value

$434K

Up2.6%YoY

Median list price

$477K

Down12.6%MoM

Days on market

66

Up17.9%MoM

Homes for sale

91

Up4.6%MoM

Price cuts

23.8%

Up7.0%MoM

New listings

28

Down22.2%MoM

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

The outlook

49685 housing market forecast 2027

+3.4%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 49685 to rise 3.4% by September 2027.

Over the 12 months through September 2026, typical home values in 49685 rose 2.6%, per the Zillow Home Value Index.

Will home prices drop in 49685?

Zillow's forecast does not call for a drop: it expects typical home values in 49685 to rise 3.4% by September 2027, after a 2.6% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

Free home value report

See what your 49685 home is worth.

See your estimated value and a real cash offer, side by side. No obligation, about a minute.

The comparison

How do 49685 home prices compare?

  • 49685$433,706
  • Traverse City$436,969
  • Michigan$241,156
  • United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Traverse City: 4 ZIPs; Michigan: 891 ZIPs; United States: 26,262 ZIPs).

Context

Traverse City's 49685 market shows 91 homes for sale and 28 new listings as of September 2026. Nearly a quarter of listings have seen price cuts, which signals some negotiating room in a market where homes are spending over two months on the market. While the typical home value has gained ground year over year, the combination of longer selling times and price reductions suggests this is a buyer-friendly environment. Sellers should expect to be realistic about pricing and prepared for a more patient sales process.

Monthly payment

Estimate your monthly payment.

20% · $86,741

Common questions

What people ask us.

What is the typical home value in 49685?

As of September 2026, the typical home value in Traverse City's 49685 ZIP is $433,706, reflecting a 2.6% increase over the past year.

How long do homes typically stay on the market in 49685?

The median days on market is 66 as of September 2026.

What share of homes have had price cuts?

As of September 2026, 23.8% of listings in 49685 have seen a price cut.

Discover

Nearby ZIP markets.

Keep reading

Guides for sellers.