Is Traverse City a buyer's or seller's market right now?

Traverse City is currently a buyer's market with 6.4 months of supply. 11.1% of homes sell above asking price, and 31.8% go pending within two weeks. The Ridley Sell Score for Traverse City is 32/100 (Cooling), based on 7 real-time market signals including inventory, pricing trends, and buyer demand.

What's the median home price in Traverse City?

The median home price in Traverse City is $356,000, up 1.7% year-over-year. The median price per square foot is $273. Homes sell in a median of 91 days with a sale-to-list ratio of 90.3%.

How much does it cost to sell a home in Traverse City, Michigan?

On a $356,000 home in Traverse City, a traditional listing agent charges around $10,680 (3% commission). Add buyer agent commission (3%), closing costs (1–2%), and you could spend $28,480 or more. With Ridley Essentials ($999) you save $9,681, and with Ridley Pro ($3,499) you save $7,181 while getting full agent support.

How does Ridley's flat fee compare to a traditional Traverse City agent?

A traditional Traverse City listing agent typically charges 3% of the sale price — about $10,680 on a $356,000 home. Ridley offers two flat-fee plans: Essentials ($999) with MLS listing, marketing tools, and self-service support, or Pro ($3,499) with a dedicated licensed agent. That saves you $9,681–$7,181 compared to a traditional agent.

How long does it take to sell a home in Traverse City?

The median home in Traverse City currently spends 91 days on the market before going under contract. 31.8% of homes go pending within two weeks. At a 90.3% sale-to-list ratio, sellers are seeing some negotiation. Only 7.8% of listings see a price drop, suggesting sellers can hold firm on pricing.

Do I need a real estate agent to sell in Michigan?

No. Michigan does not require you to use a real estate agent to sell your home. You can sell independently (FSBO) or use a flat-fee service like Ridley that gives you MLS access, professional tools, and expert support at a fraction of the traditional commission. On a $356,000 home, that could save you up to $7,181.

What's included with Ridley Essentials and Pro?

Ridley offers two plans in Michigan. Essentials ($999) includes MLS listing distribution, professional listing tools, marketing materials, and self-service support. Pro ($3,499) includes everything in Essentials plus a dedicated licensed agent partner, expert pricing consultation, offer review and negotiation support, contract and deadline management, and full closing coordination. Both save significantly vs. the traditional $10,680 commission.

National/Michigan

Traverse City, MI

Is Now a Good Time to Sell in Traverse City, Michigan?

The median home in Traverse City sells for $356,000 with prices up 1.7% year-over-year. The average seller pays $10,680 in commissions — Ridley’s flat fee saves you $7,181.

Traverse City Real Estate Market Conditions — March 2026

32out of 100

Ridley Sell Score

How it's scored →

Cooling

32/100

The market is shifting — strategic pricing and presentation matter more.

What this means for sellers

The Traverse City market is cooling, and sellers need to be strategic. Buyers have more options and are negotiating harder. Invest in staging and professional photography to differentiate your listing. Flexibility on terms can make the difference in attracting serious buyers.

Inventory TightnessFavors buyers

6.4 months of supply — above the 5-month balanced threshold, giving buyers more options. Michigan average is 2.7.

Price MomentumNeutral

Prices up 1.7% year-over-year — vs. +5.6% statewide.

Seller LeverageFavors buyers

Homes selling at 90.3% of asking — buyers are negotiating 9.7% below list. Michigan average is 97.4%.

Bidding ActivityFavors buyers

11.1% of homes selling above list price — 54% below the Michigan average of 24.1%.

Sale SpeedFavors buyers

91 median days on market — 46 days slower than the Michigan average.

Market UrgencyNeutral

31.8% of listings go pending within 2 weeks — vs. 34.5% statewide.

Price StabilityFavors sellers

Only 7.8% of listings have dropped their price — sellers are holding firm. Michigan average is 28.1%.

Score based on 7 real-time market signals. Updated with latest available data.

How it works →

Median Sale Price

The midpoint price of all homes sold in the past month. Half sold for more, half for less.

$356,000

+1.7%

Days on Market

How long the typical home sits on the market before going under contract. Lower is better for sellers.

Price per Sq Ft

Average cost per square foot of living space. Useful for comparing homes of different sizes.

$273

Sale-to-List Ratio

How close homes sell to their asking price. Above 100% means bidding wars; below means negotiation room.

90.3%

Months of Supply

How long it would take to sell all current listings at the current pace. Under 3 months favors sellers; over 6 favors buyers.

6.4

Buyer’s market

Competitiveness

Overall market competition based on offers per listing, days on market, and sale-to-list ratio.

Somewhat Competitive

Sold Above List

Percentage of homes that sold for more than their list price.

11.1%

Room to negotiate

Price Drops

Percentage of active listings that had a price reduction.

7.8%

Well-priced market

Pending in 2 Weeks

Percentage of listings that went under contract within 14 days.

31.8%

Moderate pace

12-Month Price Trend

$347,000 → $356,000

▲2.6%

$450K$400K$350K

AprJunAugOctDecFebMar

Data updated March 2026

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Personalized pricing signals, demand shifts, and Sell Score changes for Traverse City — delivered monthly.

Your savings

How much can you save selling your home in Traverse City?

The average Traverse City homeowner saves $7,181 by selling with Ridley instead of paying the traditional 3% listing commission on a $356,000 home.

$0Estimated savings

That's 6 months of groceries — save 2.0% of your home value

Your Traverse City home value

$356,000

$50,000$10M

Traditional Agent (3%)

$10,680

Ridley Pro (flat fee)

$3,499

Ready to sell in Traverse City?

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Cost comparison

How much does it cost to sell a house in Traverse City?

The total cost to sell a house in Traverse City in 2026 ranges from $999 with Ridley Essentials to approximately $10,680 with a traditional 3% commission on a $356,000 home.

	Traditional Agent	Best valueRidley Pro	Ridley Essentials	FSBO
Listing fee	$10,680	$3,499	$999	$0
Buyer agent	$9,9682.8% avg	$7,120~2% avg	$7,120~2% avg	$9,9682.8% avg
Closing costs (~1.5%)	$5,340	$5,340	$5,340	$5,340
Total cost	$25,988	$15,959	$13,459	$15,308
Net proceeds	$330,012	$340,041	$342,541	$340,692
You save	—	$7,181	$9,681	$10,680No support