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Traverse City, MI 49685 Housing Market

Data snapshot: October 26, 2026. Closed-sale window: last 6 months.
Traverse City, MI inventory balance
Homes for sale vs homes under contract. Pending-to-active ratio: 0.08
ActiveActive listings: 5050PendingPending sales: 44
Traverse City, MI: what sellers ask vs what buyers pay
Median asking price of current listings vs median closed sale price over the last six months
AskingMedian asking price (current listings): $537k$537kSoldMedian sold price (last 6 months): $515k$515k
What homes actually sell for in Traverse City, MI
Distribution of 193 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $355k to $674k
$190k to $355k: 40 sales$190k$355k to $519k: 50 sales$519k to $683k: 52 sales52sales$519k$683k to $848k: 17 sales$848k to $1.01M: 11 sales$848k$1.01M to $1.18M: 2 sales$1.18M to $1.34M: 0 sales$1.18M$1.34M to $1.5M: 3 salesMedian $515k

What the numbers say

As of October 26, 2026, Resideline is tracking 50 active listings and 4 pending sales in ZIP code 49685. That pending-to-active ratio of 0.08 makes it a typical-pace market: listings are going under contract at about the pace of most ZIP codes Resideline tracks.

The median asking price of current listings is $537,450, while the median of the 193 closed sales Resideline tracked over the last six months was $515,000. Those two figures describe different sets of homes, so any gap between them reflects the mix of what is listed now versus what recently sold, not a negotiating discount. Resideline has been seeing the median active listing in 49685 for 79 days.

Frequently asked questions

What is the median home price in 49685?

The median closed sale price in Traverse City, MI 49685 was $515,000 over the last six months, based on 193 closed sales tracked by Resideline. The middle half of those sales ranged from $355,000 to $674,000.

Is 49685 a buyer's or seller's market?

Resideline is currently tracking 4 pending sales against 50 active listings in 49685, a pending-to-active ratio of 0.08. Resideline tracks a sample of pending sales, so the ratio is most useful as a comparison: across the 3,777 ZIP codes Resideline tracks, the middle half run from 0.05 to 0.11. A higher ratio means listings go under contract faster, which usually favors sellers; a lower one gives buyers more room. By that comparison, 49685 is currently a typical-pace market.

Nearby ZIP code market data

Full Traverse City, MI housing market report →

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