$465,000
1 bd1 ba750 sqft
8050 Peninsula Dr APT 3
Traverse City, MI Housing Market
$427,667
1.9% 1-yrThe average Traverse City, MI home value is $427,667, up 1.9% over the past year, and homes go to pending in around 39 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: $427,667
1-Year Value Change: +1.9%
(Data through February 28, 2026)
Traverse City Housing Market Overview
1-Year Market Forecast: --
For Sale Inventory: 294 ()
New Listings: 51 ()
Median Sale to List Ratio: 0.969 ()
Median Sale Price: $411,083 ()
Median List Price: $532,333 ()
Percent of Sales Over List Price: 16.9% ()
Percent of Sales Under List Price: 71.5% ()
Median Days to Pending: 39 ()
(Metric availability is based on market coverage and data)
How does this data help me?
Zillow's metrics provide valuable market data by tracking market changes in different locations and housing types.
Zillow's metrics provide valuable market data by tracking market changes in different locations and housing types.
Neighborhoods in Traverse City
- NameMedian ZHVI
- Oak Park$438,587
- Traverse Heights$318,090
- Boardman$582,997
- Downtown$460,940
- Old Towne$461,234
- Central$503,211
- Kids Creek$469,935
- Slab Town$571,848
- Greilickville$467,140
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Traverse City Rental Market Trends
Average Rent: $1,978 ()
National Average Rent: $1,895 ()
Month-Over-Month Change: 3.1% ()
Year-Over-Year Change: 7.3% ()
How does this data help me?
The Zillow Observed Rent Index (ZORI) measures changes in asking rents over time, controlling for changes in the quality of the available rental inventory.
The Zillow Observed Rent Index (ZORI) measures changes in asking rents over time, controlling for changes in the quality of the available rental inventory.
