Traverse City housing market: home prices and forecast
According to the Zillow Home Value Index, Traverse City home prices reached $444,107 for a typical home in Traverse City, Michigan in September 2026. The value was +2.1% above one year earlier and marked the highest month on record.
- Value of a typical home
- $444,107September 2026, Zillow ZHVI
- Change over 12 months
- +2.1%. Since September 2025.
Traverse City home prices since 2000
Traverse City is the steel line, the United States the grey line. A typical Traverse City home has moved from $120,150 to $444,107 since January 2000, ×3.70, while the US reached ×2.99 over those months. The boom peaked in March 2007, at $170,426; the low followed in October 2009, at $141,267, −17.1%.
Yearly median home price in Traverse City
Each year averages the twelve monthly values; for 2026, the figure covers the latest month.
| Year | Traverse City | Change on the year | United States |
|---|---|---|---|
| 2000 | $123,256 | $125,745 | |
| 2001 | $131,127 | +6.4% | $134,899 |
| 2002 | $137,597 | +4.9% | $144,276 |
| 2003 | $145,464 | +5.7% | $155,308 |
| 2004 | $154,716 | +6.4% | $169,891 |
| 2005 | $161,876 | +4.6% | $189,732 |
| 2006 | $167,564 | +3.5% | $206,531 |
| 2007 | $167,753 | +0.1% | $208,449 |
| 2008 | $162,721 | −3.0% | $195,574 |
| 2009 | $146,540 | −9.9% | $177,542 |
| 2010 | $151,193 | +3.2% | $171,462 |
| 2011 | $145,779 | −3.6% | $162,508 |
| 2012 | $156,077 | +7.1% | $161,137 |
| 2013 | $171,624 | +10.0% | $171,420 |
| 2014 | $186,894 | +8.9% | $182,996 |
| 2015 | $199,796 | +6.9% | $192,738 |
| 2016 | $213,109 | +6.7% | $204,509 |
| 2017 | $230,728 | +8.3% | $216,767 |
| 2018 | $248,015 | +7.5% | $230,541 |
| 2019 | $258,811 | +4.4% | $242,088 |
| 2020 | $271,068 | +4.7% | $257,151 |
| 2021 | $325,477 | +20.1% | $295,959 |
| 2022 | $373,617 | +14.8% | $340,014 |
| 2023 | $399,347 | +6.9% | $348,160 |
| 2024 | $421,084 | +5.4% | $359,751 |
| 2025 | $433,387 | +2.9% | $362,959 |
| September 2026 | $444,107 | +2.1% | $366,157 |
What a home bought in Traverse City in any year is worth at today's values
This is an index-based estimate of a typical home, not an appraisal.
Each year's figure averages its twelve monthly index values; the current value comes from September 2026. Additional options: home appreciation calculator.
Are you thinking about selling? Compare local agents through Realtor.com. Advertising disclosure: a link like this one may pay the site; no number is ever changed. Disclosure.
Traverse City housing market forecast
In the Traverse City, MI metro, Zillow's forecast projects a 3.6% increase across 12 months starting September 2026, along with 1.2% growth during the next three months. That forecast, measured against Traverse City's $444,107 typical value, would put the figure close to $460,100 one year on.
Restated here, the figure comes from Zillow's central estimate for the metro; this site publishes nothing of its own in the way of a forecast. Forecasts of this kind over 12 months have typically been off by several percentage points from the realised change, in both directions. This is not investment advice.
All metro forecasts in one table: housing market forecast.
Traverse City housing market crash risk score
A score of 30 out of 100, rated moderate.
Traverse City is ranked against the 292 cities by five conditions that were high before past price falls. Every input is scored from 0 to 100 compared with the other cities, and the five scores are averaged with equal weight It shows conditions as they are now; it makes no prediction of a crash.
| Input | Value | Sub-score | Weight |
|---|---|---|---|
| Active listings vs 2019 | −43.6% | 4 | 20% |
| Days on the market vs 2019 | −9.0% | 23 | 20% |
| Price-to-rent ratio | 20.0 | 61 | 20% |
| 12-month price change | +2.1% | 31 | 20% |
This is not investment advice. Scoring of the inputs: methodology. Every one of the 292 cities ranked: crash risk by city.
Days on market and inventory in Traverse City
With 882 homes available for sale in September 2026 the Traverse City, MI metro recorded a +11.9% yearly increase and a −43.6% decrease compared with the same month of 2019. Listings had a median time to sell of 61 days (−9.0% against 2019), and 23.5% received a price cut.
| Traverse City, MI metro, September 2026 | Value | On a year |
|---|---|---|
| Active listings | 882 | +11.9% |
| New listings | 268 | |
| Median days on market | 61 | +0.4% |
| Median list price | $541,250 | −4.2% |
| Share with a price cut | 23.5% |
Realtor.com® Economic Research, metro inventory figures. Realtor.com data. All metros: days on market by city.
Rents and cost of living in Traverse City
According to the Zillow Observed Rent Index, asking rents in Traverse City typically run to $1,850 a month, +4.4% on a year. Paying that rent for 20.0 years covers the price of the typical home. BEA scores metro prices at 93.4, where the US average is 100, and housing costs at 78.1.
Other Michigan housing markets
- $74,742 in Detroit.
- Grand Rapids $303,937
- $517,346 in Ann Arbor.
- $166,379 in Lansing.
- $238,251 in Kalamazoo.
Statewide figures: Michigan housing market.
How to read this chart
The value at each point comes from the Zillow Home Value Index for Traverse City. It measures a typical home in the market's middle third, with smoothing and seasonal adjustment, in dollars for that month. The hollow dot marks the slider's month, and the terracotta dot marks the latest month. Inflation is not factored into these numbers, and the index tracks the typical home rather than one particular house. To find what a single home is worth, use the price it sold for with the card above or the appreciation calculator.