Are Prices Falling in the Traverse City, MI Metro Area?

Traverse City, MI home prices are still rising: +2.8% year-over-year

OpenRoof Score

Insufficient data

Not enough trustworthy data to score this market yet. OpenRoof Score requires coverage across multiple index dimensions.

Key Market Data — Traverse City, MI

Median Home Value

488,262

Source: Zillow ZHVI

Home Value YoY

3

Source: Zillow ZHVI

Avg Monthly Rent

1,883

Source: Zillow ZORI

Rent YoY

5

Source: Zillow ZORI

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Data sources: Zillow ZHVI (home values, updated mid-month), Zillow ZORI (rent, updated mid-month), Realtor.com (inventory, days on market, updated 1st week of month), U.S. Census ACS (income, population, updated annually). Data as of April 2026.