2025 Traverse City Real Estate Market Report: Key Statistics and Trends in Grand Traverse County
Traverse City, nestled along the stunning shores of Grand Traverse Bay in Michigan, continues to be a sought-after destination for homebuyers seeking a blend of natural beauty, outdoor recreation, and vibrant community life. As we move through 2026, the 2025 residential real estate data for Grand Traverse County provides valuable insights for buyers, sellers, and investors.
Based on data from the Northern Great Lakes Realtors MLS (compiled by Oltersdorf Realty), the market showed signs of recovery in sales activity despite slight price corrections.
Overview of 2025 Grand Traverse County Home Sales Statistics
In 2025, Grand Traverse County's residential real estate market demonstrated resilience. While home prices experienced minor declines from 2024 peaks, the number of units sold and overall sales volume rebounded notably.
Year-over-Year Changes (2024 to 2025):
- Average Sale Price: $528,032 → $519,434 (-1.63%)
- Median Sale Price: $420,000 → $405,223 (-3.52%)
- Sales Volume: ~$698M → $749,023,516 (+7.46%)
- Units Sold: 1,320 → 1,442 (+9.24%)
Data excludes fractional ownership and is based on reliable MLS sources.
Compared to Michigan statewide trends (median home price up 4.7% to $267,600 in late 2025) and national figures (U.S. median existing-home price up 1.7% to $414,400), Grand Traverse County prices remain significantly higher, reflecting its premium lakeside location.
Residential Units Sold: A Strong Rebound
Units sold increased 9.24% from 1,320 in 2024 to 1,442 in 2025 — the strongest annual sales volume since 2021.
10-Year Trend (2016–2025):
- 2016: 1,741
- 2017: 1,639
- 2018: 1,639
- 2019: 1,805 (peak)
- 2020: 1,713
- 2021: 1,732
- 2022: 1,470
- 2023: 1,311
- 2024: 1,320
- 2025: 1,442
This uptick suggests growing buyer confidence and increased market activity in Northern Michigan.
Total Sales Volume: Healthy Growth
Total residential sales volume reached $749,023,516 in 2025, a solid +7.46% increase from 2024 — despite the modest price softening.
Higher transaction volume more than offset the slight decline in average and median prices.
Average & Median Home Prices: Slight Cooling
- Average Sale Price 2025: $519,434 (-1.63% from 2024)
- Median Sale Price 2025: $405,223 (-3.52% from 2024)
Long-term perspective (2004–2025): Both average and median prices have more than doubled since the early 2000s, showing strong long-term appreciation even with the 2025 correction.
This slight price softening creates opportunities for buyers while the market remains fundamentally strong.
What These Trends Mean for 2026 and Beyond
The 2025 data indicates a rebalancing Traverse City housing market:
- More homes are selling
- Prices have moderated slightly
- Inventory is improving regionally
- Buyer activity is picking up
With national forecasts predicting modest price growth (2–4%) and potentially lower mortgage rates, Grand Traverse County could see continued positive momentum in 2026.
Key factors to watch:
- Rising inventory across Michigan
- Strong demand for lifestyle locations like Traverse City
- Stable local economy (tourism, healthcare, remote work appeal)
Whether you're looking to buy your dream home on the bay, sell your current property, or invest in Northern Michigan real estate, 2026 appears to offer promising opportunities.
For personalized guidance on Traverse City homes, waterfront properties, or the latest Grand Traverse County market updates, contact a local expert today.
Data source: Northern Great Lakes Realtors MLS, compiled by Oltersdorf Realty. Figures are reliable but not guaranteed.
