Market Intelligence · MI / Traverse City

Traverse City, MI 49686 Housing Market

The typical home value in Traverse City's 49686 ZIP is $399,620, up 1.3% over the past year. The median list price stands at $477,450, with homes spending a median 53 days on the market as of September 2026.

Updated September 2026Median value$400K

The median home value in Traverse City, MI 49686 is $400K as of September 2026, up 1.3% 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.

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 49686 range

$368K to $432K

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.

Asset monitoring

Track your home's value.

A free monthly briefing with your estimated value and 49686 market stats. Unsubscribe anytime.

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

12-month value trend

+1.3% over 12 months

Sep 2025$395K

Low $395KHigh $400K

Sep 2026$400K

The numbers

What is the 49686 housing market like?

As of September 2026

Typical home value

$400K

1.3%YoY

Median list price

$477K

0.3%MoM

Days on market

7.0%MoM

Homes for sale

142

2.2%MoM

Price cuts

25.1%

20.0%MoM

New listings

21.9%MoM

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

The outlook

49686 housing market forecast 2027

+3.3%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 49686 to rise 3.3% by September 2027.

Over the 12 months through September 2026, typical home values in 49686 rose 1.3%, per the Zillow Home Value Index.

Will home prices drop in 49686?

Zillow's forecast does not call for a drop: it expects typical home values in 49686 to rise 3.3% by September 2027, after a 1.3% 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 49686 home is worth.

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

The comparison

How do 49686 home prices compare?

49686$399,620
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

There are 142 homes for sale in 49686, with 50 new listings added in September 2026. The market shows some softness, with 25.1% of listings carrying a price cut. Homes are taking over seven weeks to sell on average. For sellers, this suggests a market where pricing strategy and presentation matter more than they did a year ago.

Monthly payment

Estimate your monthly payment.

Home price

Down payment20% · $79,924

Term

Rate (%)

Common questions

What people ask us.

What is the typical home value in 49686?

The typical home value is $399,620 as of September 2026, representing a 1.3% increase over the past year.

How long do homes take to sell in this ZIP?

The median days on market is 53 as of September 2026.

How many homes are currently listed in 49686?

There are 142 homes for sale as of September 2026, with 50 new listings in that same month.

Discover

Nearby ZIP markets.

Keep reading