The housing market in Traverse City, MI is stronger than the national average. The median value of a house in Traverse City is $394,900, which is greater than the US median value of $338,100. Furthermore, the one year appreciation rate for houses in Traverse City has been 15.49%, compared to 8.27% nationally. This indicates that the housing market in Traverse City has been growing rapidly and may be an attractive option to consider when investing in real estate.
The median home cost in Traverse City is $394,900. Home appreciation the last 10 years has been 122.2%. Home Appreciation in Traverse City is up 19.8%.
Average Age of Homes
- The median age of Traverse City real estate is 59 years old
The Rental Market in Traverse City
- Renters make up 31.8% of the Traverse City population
- 3.0% of houses and apartments in Traverse City, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.