Traverse City Real Estate
519 active listings · 584 sold in the past 12mo
$480,000
Median List Price
584
Sold (past 12mo)
88
Avg Days on Market
+11.9%
HFGⓘ
Household Formation Gap (HFG) is a secondary market indicator that measures hidden housing demand created by shrinking household sizes. As average household size decreases — due to divorce, single living, empty nesting, delayed marriage — more housing units are needed even without population growth. HFG compares the estimated number of households needed today versus 15 years ago: (population ÷ avg household size). This is a demographic trend signal, not a primary market indicator like income-based affordability or comparative market analysis. Source: U.S. Census Bureau, American Community Survey 5-Year Estimates (2009–2023), Tables B01003, B25010, B25001.
Active Listings
Loading map…
Market Dashboard
Homes for Sale(519)
View all with filters →
Under Contract
1/88
$5,900,000
305 Hamilton Street, Traverse City, MI 49686
30 bd30 ba0.47 ac
Single Family
For Sale
1/99
$5,549,000
3888 Swaney Road, Traverse City, MI 49686
6 bd4 ba6,728 sqft48.53 ac
Single Family
For Sale
1/83
$4,199,000
6525 Peninsula Drive, Traverse City, MI 49686
4 bd3 ba0.67 ac
Single Family
For Sale
1/60
$3,999,000
16842 Smokey Hollow Road, Traverse City, MI 49686
5 bd4 ba3.08 ac
Single Family
For Sale
1/79
$3,995,000
230 Wellington, Traverse City, MI 49686
13 bd8 ba0.50 ac
Single Family
For Sale
1/75
$3,990,000
2721 Nelson Road, Traverse City, MI 49686
5 bd2 ba8.44 ac
Single Family
For Sale
1/94
$3,900,000
229 Wellington Street, Traverse City, MI 49686
6 bd1 ba0.53 ac
Single Family
For Sale
1/63
$3,850,000
3515 Jefferson Avenue, Traverse City, MI 49684
5 bd2 ba10.74 ac
Single Family
For Sale
1/60
$3,599,000
7135 E Birch Point Road, Traverse City, MI 49684
4 bd1 ba107 ac
Single Family
For Sale
1/16
$3,595,000
424 E Front Street, Traverse City, MI 49684
4 bd3 ba
Single Family
For Sale
1/87
$3,500,000
55 S Hope Ridge, Traverse City, MI 49696
40.39 ac
Multi-Fam
For Sale
1/94
$3,200,000
17744 Smokey Hollow Road, Traverse City, MI 49686
4 bd2 ba1.37 ac
Single Family
For Sale
1/88
$3,089,000
6644 Peninsula Drive, Traverse City, MI 49686
3 bd3 ba6.17 ac
Single Family
For Sale
1/67
$3,000,000
2755 Shore Wood Drive, Traverse City, MI 49686
4 bd2 ba0.71 ac
Single Family
For Sale
1/97
$2,999,999
17770 Center Road, Traverse City, MI 49686
4 bd1 ba46.54 ac
Single Family
For Sale
1/68
$2,997,500
3619 Tompkins Road, Traverse City, MI 49686
3 bd1 ba80.40 ac
Single Family
For Sale
1/16
$2,995,000
424 E Front Street, Traverse City, MI 49684
4 bd3 ba
Single Family
For Sale
1/14
$2,950,000
100 N Park, Traverse City, MI 49684
2 bd2 ba
Single Family
For Sale
1/16
$2,950,000
15985 Waters Edge, Traverse City, MI 49686
4 bd3 ba0.52 ac
Single Family
For Sale
1/57
$2,850,000
139 Uptown Court, Traverse City, MI 49684
4 bd1 ba
Single Family
For Sale
1/35
$2,825,000
111 E State, Traverse City, MI 49684
4 bd3 ba
Single Family
For Sale
1/32
$2,825,000
111 E State, Traverse City, MI 49684
4 bd3 ba
Single Family
For Sale
1/76
$2,675,000
13759 S Meridian Drive, Traverse City, MI 49584
5 bd3 ba0.31 ac
Single Family
For Sale
1/68
$2,620,000
124 N Oak Street, Traverse City, MI 49684
8 bd5 ba0.17 ac
Single Family
Recently Sold(584)
Frequently Asked Questions about Traverse City
How many homes are for sale in Traverse City?
There are currently 519 active listings in Traverse City. The median asking price is $480,000.
How much do homes cost in Traverse City?
Homes in Traverse City sell for a median of $480,000, drawn from 584 transactions over the past year.
How long do homes stay on the market in Traverse City?
The average days on market in Traverse City is 88, based on 584 recent transactions.
What schools are in Traverse City?
Traverse City is served by one or more public school districts. In Michigan, school district boundaries do not always align with city limits, so different parts of Traverse City may be zoned for different districts. Check individual listings for the specific school district assignment.
What are market conditions like in Traverse City?
With 10.7 months of inventory, Traverse City is currently a buyer's market. This is based on 519 active listings and 584 sales in the past 12 months.
How much are property taxes in Traverse City?
Michigan property taxes in Traverse City are calculated using the State Equalized Value (SEV) times the local millage rate. Rates vary by school district and municipality. Primary residences qualify for a homestead exemption that reduces the tax rate.
Is housing demand growing in Traverse City?
Census demographic data shows a +11.9% Household Formation Gap in Traverse City. As average household size fell from 2.09 to 2.02, the estimated number of households grew by 815. Population grew 8.1% over the same period. HFG is a secondary market indicator reflecting household formation trends, distinct from primary indicators like comparative market analysis.