West Traverse Township Housing Market Report January 2025•Emmet County, Michigan

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Housing Prices in West Traverse Township, MI

How much do homes in West Traverse Township, MI cost?

Housing Market Conditions

Is West Traverse Township, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

West Traverse Township is a Buyer's Market

Difference Since January 2024

At the same time last year, West Traverse Township was a Seller's Market.

Insight

West Traverse Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$650,000$269/SqFt
+$72,500
+12.6%

Based on all homes sold in the last 12 months

Insight

Homes in West Traverse Township have sold for 12.6% more than they did a year ago.

Summary: The median home sold price in West Traverse Township was $650,000 in January 2025, up 12.6% from last year, and the median price per square foot was $269.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
West Traverse Township
+12.6%
Harbor Springs
+9.4%
Pleasantview Township
+1.4%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2024Jan 2025Change YoY
1$274K$345K
+25.9%
2$420K$552.5K
+31.5%
3$519.5K$565K
+8.8%
4$702.5K$1.1M
+67.1%
5$1.6M$1.4M
-12.5%

Summary: West Traverse Township housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes increased by +25.9%. The home price for 2 bedroom homes increased by +31.5%. The home price for 3 bedroom homes increased by +8.8%. The home price for 4 bedroom homes increased by +67.1%. The home price for 5 bedroom homes decreased by -12.5%.

Housing supply in West Traverse Township, MI

How many homes are available in West Traverse Township, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
26Last MonthJan 2025
242 months agoDec 2024
+8.3 %
Change MoMDec – Jan

Summary: The West Traverse Township real estate market had 26 homes for sale in Jan 2025, a 8.3 % increase compared to Dec 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
2Last MonthJan 2025
62 months agoDec 2024
-66.7 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
100
0.0%
233
0.0%
31111
0.0%
456
+20.0%
556
+20.0%

Summary: West Traverse Township housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes increased by +20.0%. The inventory for 5 bedroom homes increased by +20.0%.

Asking Price vs. Sold Price

How much do homes in West Traverse Township, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price1 Home

Under Asking Price1 Home

Insight

If you're buying a home in West Traverse Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in West Traverse Township in January 2025, down by 66.7% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and and 0% were sold over asking.

Days on Market for West Traverse Township, MI

We’re sorry, we don't have information for this market at the moment.

Home sale times aren’t available for this area.

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Newest Listings in West Traverse Township, MI

What homes are available in West Traverse Township, MI?

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MLS Disclaimers and Copyright

Based on information from Northern Michigan MLS, for the period 02/01/2023 - 02/01/2025

IDX The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing about said listings includes the listing office information. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2025 NM-MLS. All rights reserved
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/22/2025, 1:20:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.