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Traverse City, MI 49686 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: 0.06
ActiveActive listings: 8585PendingPending sales: 55
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): $494k$494kSoldMedian sold price (last 6 months): $400k$400k
What homes actually sell for in Traverse City, MI
Distribution of 285 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $320k to $651k
$195k to $379k: 119 sales119sales$195k$379k to $562k: 62 sales$562k to $746k: 37 sales$562k$746k to $930k: 9 sales$930k to $1.11M: 8 sales$930k$1.11M to $1.3M: 11 sales$1.3M to $1.48M: 9 sales$1.3M$1.48M to $1.66M: 0 salesMedian $400k

What the numbers say

As of October 26, 2026, Resideline is tracking 85 active listings and 5 pending sales in ZIP code 49686. That pending-to-active ratio of 0.06 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 $494,000, while the median of the 285 closed sales Resideline tracked over the last six months was $400,000. 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 49686 for 97 days.

Frequently asked questions

What is the median home price in 49686?

The median closed sale price in Traverse City, MI 49686 was $400,000 over the last six months, based on 285 closed sales tracked by Resideline. The middle half of those sales ranged from $319,900 to $651,125.

Is 49686 a buyer's or seller's market?

Resideline is currently tracking 5 pending sales against 85 active listings in 49686, a pending-to-active ratio of 0.06. 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, 49686 is currently a typical-pace market.

Nearby ZIP code market data

Full Traverse City, MI housing market report →

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