Traverse City, MI Housing Market
$446,706
1.9% 1-yrThe average Traverse City, MI home value is $446,706, up 1.9% over the past year, and homes go to pending in around 20 days. (Updated on )
What is the Zillow Home Values Index?
Zillow Home Value Index (ZHVI), built from the ground up by measuring monthly changes in property level Zestimates, captures both the level and home values across a wide variety of geographies and housing types.
Traverse City Key Takeaways
Typical Home Values: $446,706
1-Year Value Change: +1.9%
(Data through August 31, 2026)
Traverse City Housing Market Overview
Zillow's metrics provide valuable market data by tracking market changes in different locations and housing types.
Nearby Neighborhoods
- NameMedian ZHVI
- Greilickville$512,410
- Slab Town$602,136
- Downtown$455,960
- Kids Creek$472,363
- Central$534,824
- Boardman$649,155
- Oak Park$462,770
- Old Towne$495,231
- Traverse Heights$332,049
Zillow is more than a place to browse homes. It’s a place to connect with a local agent, explore financing solutions, schedule home tours, understand your buying and selling power, and more.
Traverse City Rental Market Trends
The Zillow Observed Rent Index (ZORI) measures changes in asking rents over time, controlling for changes in the quality of the available rental inventory.
Frequently Asked Questions
What are current home values in Traverse City, MI?
The median home value in Traverse City, MI is $446,706 as of August 2026. This represents a 0.4% increase compared to last month and a 1.9% increase year-over-year.
How have home values changed in Traverse City, MI?
Home values in Traverse City, MI have increased by 0.4% month-over-month and 1.9% year-over-year.
How do home values in Traverse City, MI compare to Grand Traverse County, Michigan, and the national average?
The median home value in Traverse City, MI ($446,706) compares to: Grand Traverse County ($654,806), Michigan ($266,292), and the U.S. national median ($368,697).
