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Traverse City, MI 49685 Housing Market

Data snapshot: October 5, 2026. Closed-sale window: last 6 months.
Traverse City, MI inventory balance
Homes for sale vs homes under contract. Pending-to-active ratio: 0.05
ActiveActive listings: 5757PendingPending sales: 33
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): $450k$450kSoldMedian sold price (last 6 months): $520k$520k
What homes actually sell for in Traverse City, MI
Distribution of 208 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $360k to $674k
$200k to $356k: 40 sales$200k$356k to $512k: 50 sales$512k to $669k: 54 sales54sales$512k$669k to $825k: 25 sales$825k to $981k: 13 sales$825k$981k to $1.14M: 4 sales$1.14M to $1.29M: 0 sales$1.14M$1.29M to $1.45M: 1 salesMedian $520k

What the numbers say

As of October 5, 2026, Resideline is tracking 57 active listings and 3 pending sales in ZIP code 49685. That pending-to-active ratio of 0.05 points to a balanced market: buyers have room to compare options and negotiate.

The median asking price of current listings is $450,000, while the median of the 208 closed sales Resideline tracked over the last six months was $520,000. 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 59 days.

Frequently asked questions

What is the median home price in 49685?

The median closed sale price in Traverse City, MI 49685 was $520,000 over the last six months, based on 208 closed sales tracked by Resideline. The middle half of those sales ranged from $360,000 to $674,000.

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

Resideline is currently tracking 3 pending sales against 57 active listings in 49685, a pending-to-active ratio of 0.05. Ratios of 0.6 or higher usually indicate a seller's market, 0.35 to 0.6 a competitive market, and lower values a more balanced one. By that yardstick, 49685 currently looks like a balanced market.

Nearby ZIP code market data

Full Traverse City, MI housing market report →

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