The story of this market
The typical home in ZIP 49685 sells for about $440,000, or $219 per square foot.
Prices are up +7% from a year ago, so sellers still have some momentum. Homes take about 35 days to sell. HUD's fair market rent for a two-bedroom is $1,448 a month.
ZIP 49685 — Traverse City
The 49685 housing market shows steady appreciation with a median home price of $440,000, reflecting a 7% year-over-year increase. While demand remains present, the market is seeing a notable share of price reductions, suggesting a balanced environment for buyers and sellers.
Median prices moved up 7.0% year over year.
Homes spend a median of 35 days on market with 0.0 months of supply — a fast-moving market.
22% of listings have cut prices · homes sell at 0% of asking — demand is cooling.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.1% · poverty 9.1% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 49685, Grand Traverse County, MI
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
not determinable
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.