Traverse City Market Report
$761,051
AVERAGE PRICE OF 407 HOMES$2,128,812
AVERAGE PRICE OF 67 MULTI-MILLION DOLLAR HOMES$1,828,980
AVERAGE PRICE OF 5 HOMES WITH A POOL$854,394
AVERAGE PRICE OF 17 REDUCED PRICE HOMESAverage Home
| Average Price | $761,051 |
| Avg Bedrooms | 3.32 beds |
| Avg Bathrooms | 2.65 baths |
Average Price by Bedrooms
| 1 bedroom | $360,047 |
| 2 bedrooms | $525,634 |
| 3 bedrooms | $584,408 |
| 4 bedrooms | $1,148,928 |
| 5 bedrooms | $1,193,631 |
Traverse City Home Price Trends
| 5/2023 | 4/2023 | 3/2023 | 2/2023 | 1/2023 | |
|---|---|---|---|---|---|
| Total Listings | 370 | 332 | 318 | 317 | 305 |
| Average Price | $761,709 | $756,075 | $739,870 | $729,652 | $699,336 |
| Avg Price Change | +0.75% | +2.19% | +1.40% | +4.33% | -2.53% |
| Median Price | $493,288 | $481,857 | $482,162 | $463,867 | $436,315 |
| Med Price Change | +2.37% | -0.06% | +3.94% | +6.31% | -3.78% |
| Avg Bedrooms | 2.78 beds | 2.8 beds | 2.66 beds | 2.64 beds | 2.88 beds |
| Avg Bathrooms | 7.66 baths | 7.84 baths | 8.85 baths | 8.75 baths | 5.57 baths |
Home Price by High School
| School Name | Total Homes | Average Price | Avg Days on Site |
|---|---|---|---|
| Central High School | 10 | $842,099 | 51 days |
| Traverse City East Middle School | 1 | $354,000 | 3 days |
| Traverse City High School | 1 | $225,000 | 356 days |
| Traverse City West Senior High School | 8 | $626,000 | 34 days |
Home Price by House Size
| Total Homes | Average Price | Avg Days on Site | |
|---|---|---|---|
| All Homes | 407 | $761,051 | 87 days |
| Multi-Million Dollar Homes | 67 | $2,128,812 | 46 days |
| Homes with a Pool | 5 | $1,828,980 | 81 days |
| Reduced Price Homes | 17 | $854,394 | 43 days |
