Traverse City Housing Market Update: What Buyers and Sellers Need to Know This Summer (2025)

Mid-Summer Market Pulse: What’s Really Happening?

As we move into the heart of summer here in Northern Michigan, the housing market is making a quiet but noticeable shift. The spring rush has come and gone, and while the buzz hasn’t disappeared entirely, the pace is no longer breakneck. What we’re seeing now is a market that’s beginning to find its balance—neither wildly favoring sellers nor swinging too far toward buyers. This mid-summer moment is a pivot point, and understanding where you stand in it could give you the edge.

Average days on market:

• Traverse City: ~60 days (June) vs 49 days last year (+21–22% Year-over-Year)
• Redfin May data: 45 days vs 28 last year (+17 days)

For Sellers: Timing is Still Your Friend—But Price is Everything

Yes, homes are still selling. And yes, prices are holding relatively strong—up 3–4% year-over-year in most parts of Grand Traverse County. But here’s the reality: nearly half of homes in the area are closing below list price.

Translation? Buyers aren’t overbidding just to win anymore. They’re informed, patient, and ready to walk away if the price doesn’t align with market value. That means:

• Overpricing is a non-starter.
• Staging and presentation matter more than ever.
• Strategic pricing = faster sales and fewer painful price drops later.

If you’re thinking about listing, now is still a smart time—but don’t wait too long. Activity typically dips after Labor Day, and listings that sit too long in late summer can lose their shine before fall.

For Buyers: More Choices, More Time—but Fewer Steals

Inventory is climbing—slowly but surely—which means you’re not competing in a housing version of The Hunger Games anymore. In fact, more than a quarter of local listings are sitting for 60+ days.

This gives you room to breathe, compare, and negotiate. But don’t get too relaxed:

• Move-in ready homes priced well are still flying off the market.
• You’ll still need pre-approval in hand—and a game plan—if you want to compete.
• Don’t sleep on price reductions—they’re happening, but not on every home.

It’s a great time to make a move if you’re prepared—and if you’ve got the right agent guiding you.

• New Listings on the Market: 87
• New Listings on the Market this time last year: 41

For Everyone: Balance Is the Name of the Game

The Traverse City market isn’t crashing. It’s not booming, either. It’s leveling off, which for many is actually the best kind of market:

• Sellers can still earn top dollar with smart pricing and marketing.
• Buyers have more room to negotiate and avoid bidding wars.
• The key difference now? Strategy matters more than speed.

Want to talk through your options—whether you’re buying, selling, or just curious about your home’s current value? Team Dakoske is here to give you the straight story (with zero pressure). Reach out anytime.

Matt Dakoske – 231.590.7722
Jenn Frankhouse – 231.631.7276
JD Dakoske – 231.620.1333
Nav Dhami – 231.645.4484
Emily Kuschell – 231.632.0747
Jessie Deiss – 231.392.6698
Lilly Clark – 231.633.5869

Not sure who to choose? Check out their Bios – CLICK HERE