There are currently 27,484 real estate properties in Traverse City, MI, with a median automated valuation model (AVM) price of $428,400.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Traverse City, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Traverse City, MI, is $527,036.00, with the most expensive house in Traverse City, MI, topping out at $9,441,740.00 and the cheapest home in Traverse City, MI, clocking in at $20,700.00. In other words, there’s something for every potential homebuyer or savvy investor in Traverse City, MI!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Traverse City, MI, is on a rollercoaster ride. The average rent price in Traverse City, MI, is $1,531.00. Indeed, when looking to rent in Traverse City, MI, you can expect to pay as little as $650.00 or as much as $2,660.00, with the average rent median estimated to be $1,550.00. The good news is that finding an affordable and desirable property to rent in Traverse City, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Traverse City, MI area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Traverse City, MI and much more. Save thousands at closing with home foreclosure listings in Traverse City, MI — up to 75% off market value!
Traverse City is located in Grand Traverse, Michigan, with an estimated municipal population of 15,738 residents. All of the best foreclosed homes for sale in Traverse City are located in the following zip code areas on Foreclosure.com: 49686 49684 49696. The estimated population per square kilometer (.62 miles) in Traverse City is 729.
So, about how much do homes cost in Traverse City? The most recent median value of resident-owned homes in Traverse City is 265,276. An estimated 62 percent of households in Traverse City own their homes, with an average family size of 2.85. The median household income in Traverse City is 57,076, with24.9 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Traverse City, the median commute time of resident workers (in minutes) is 17.3. And last, but certainly not least, are you looking for homes to rent in Traverse City? If so, the average rent price paid by renters in Traverse City is 905, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Traverse City, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Traverse City is 41.4, split between 47.8 percent male versus 52.2 female. The percentage of residents who report being married in Traverse City is 43.5, with an average family size of 2.85.
The percentage of residents who report their race in Traverse City is as follows:
|Black / African American||1.5%|
|American Indian / Alaskan Native||1.8%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Traverse City? Or maybe you are searching for 55+ active adult communities in and/or near Traverse City?
The percentage of residents who report their age in Traverse City is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Traverse City with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Traverse City.
How do you know that living in -- or moving to -- Traverse City is right where you need to be? Perhaps you grew up in Traverse City or already live nearby; therefore, the decision to buy a home in Traverse City is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Traverse City for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Traverse City:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Traverse City.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Traverse City can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Traverse City, meanwhile, can field multiple offers from more qualified buyers.
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