Market Intelligence · MI / Traverse City

Traverse City, MI 49696 Housing Market

The typical home value in Traverse City's 49696 ZIP is $440,231, up 1.9% over the past year. The median list price stands at $542,450, with homes typically on the market for 43 days.

Updated September 2026Median value$440K

The median home value in Traverse City, MI 49696 is $440K as of September 2026, up 1.9% 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.

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Typical 49696 range

$405K to $475K

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.

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12-month value trend

+1.9% over 12 months

Sep 2025$432K

Low $432KHigh $440K

Sep 2026$440K

The numbers

What is the 49696 housing market like?

As of September 2026

Typical home value

$440K

1.9%YoY

Median list price

$542K

6.5%MoM

Days on market

26.5%MoM

Homes for sale

17.8%MoM

Price cuts

23.1%

63.9%MoM

New listings

31.2%MoM

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

The outlook

49696 housing market forecast 2027

+3.2%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 49696 to rise 3.2% by September 2027.

Over the 12 months through September 2026, typical home values in 49696 rose 1.9%, per the Zillow Home Value Index.

Will home prices drop in 49696?

Zillow's forecast does not call for a drop: it expects typical home values in 49696 to rise 3.2% by September 2027, after a 1.9% 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.

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The comparison

How do 49696 home prices compare?

49696$440,231
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

As of September 2026, there are 53 homes for sale in 49696, with 22 new listings arriving recently. The median days on market of 43 suggests a moderate pace of activity. However, 23.1% of listings have seen a price cut, which indicates some sellers are adjusting expectations. While the underlying value of homes has climbed modestly year-over-year, the presence of price reductions signals that buyers are taking their time and testing the market rather than competing urgently.

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Down payment20% · $88,046

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Common questions

What people ask us.

What is a typical home value in 49696?

The typical home value is $440,231, up 1.9% over the past year.

How long do homes stay on the market in Traverse City 49696?

The median days on market is 43 days as of September 2026.

What share of homes for sale have had price cuts?

As of September 2026, 23.1% of listings with a price cut.

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Nearby ZIP markets.

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