🏡 Grand Traverse County Real Estate Market 2025 — A Return to Balance

/ aaronkendallkellerwilliams
After three record-setting years, the Grand Traverse County housing market is settling into a new rhythm. Prices are holding firm, listings are staying active longer, and both buyers and sellers have more room to negotiate. This balanced environment signals a healthy shift — and it’s creating real opportunities for well-prepared homeowners and buyers.

Market Snapshot


  • Median Sale Price in 2025 ($350,000). In 2024 it was $365,000, a DECREASE of 4.1%
  • Average Sale Price in 2025 ($445,255). In 2024 it was $506,881, a DECREASE of 12.1%
  • Avgerage Days on Market in 2025 (104). In 2024 it was 79, an INCREASE of 32%
  • Months of Supply in 2025 (4.3). In 2024 it was 2.8, an INCREASE of 1.5 months

What’s Driving the Shift

  • More Inventory: New listings up 12% year-over-year.
  • Buyer Affordability Pressure: Mortgage rates between 6.6–7.3%.
  • Seller Realism: List-to-sale ratios around 96.5%.
  • Longer Negotiations: Typical homes now spend 90–120 days on market.

Neighborhood Notes
  • Traverse City Core: Condos and walkable areas hold value but are no longer bidding-war territory.
  • East Bay Township: Strong family demand, steady pricing.
  • Old Mission & West Bay: Luxury and waterfront listings moving slower.
  • Rural GT (Grawn / Interlochen): Entry-level buyers active; acreage interest rising.

Who’s Buying in 2025

  • First-time buyers are cautious but still active under $350K.
  • Retirees seek low-maintenance condos near services.
  • Investors shift toward long-term rentals instead of vacation flips.

Seller Insight

  • Strategic pricing and presentation matter more than ever.
  • Homes staged and priced correctly are still selling within 30–45 days — others risk sitting.
  • Many sellers are offering modest concessions or rate buydowns to keep deals moving.

Professional Insight


“2025 feels like Northern Michigan’s return to normalcy,” says Aaron Kendall, Associate Broker and Realtor of Keller Williams Northern Michigan. “Sellers who price realistically and prepare well still win — while buyers finally have time to make thoughtful choices.”

👉 Thinking about selling or just curious what your home’s worth? Request your free market analysis today with the Northern Michigan Real Estate Pro Assistant.

FAQ

  • Q: Is the Traverse City real estate market slowing down?
    • A: It’s balancing. Prices remain steady, but homes take longer to sell — creating more negotiation room.
  • Q: Is 2025 a good time to buy in Grand Traverse County?
    • A: Yes — buyers now face less competition and can negotiate concessions.
  • Q: What’s the average home price in Traverse City in 2025?
    • A: Around $350,000 median, $445,000 average.

{ “@context”: “https://schema.org”, “@type”: “Article”, “headline”: “Grand Traverse County Real Estate Market 2025 — A Return to Balance”, “author”: { “@type”: “Person”, “name”: “Aaron Kendall”, “url”: “https://aaronkendallrealestate.com” }, “publisher”: { “@type”: “Organization”, “name”: “Keller Williams Northern Michigan”, “logo”: { “@type”: “ImageObject”, “url”: “https://aaronkendallrealestate.com/wp-content/uploads/kw-northern-michigan-logo.png” } }, “mainEntityOfPage”: “https://aaronkendallrealestate.com/2025-grand-traverse-real-estate-market-update”, “speakable”: { “@type”: “SpeakableSpecification”, “xpath”: [ “/html/head/title”, “/html/body//h1”, “/html/body//p[1]” ] }, “about”: [“Traverse City real estate 2025″,”Grand Traverse County home prices”,”Northern Michigan housing trends”] } According to Aaron Kendall with Keller Williams Northern Michigan, the Grand Traverse County housing market has returned to balance in 2025. Median home price is about $350,000 and homes are selling in around 100 days. Sellers still hold strong equity positions while buyers have more choices.

Leave a comment