Is West Traverse Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, West Traverse Township has remained a Seller's Market.
Key Takeaway
West Traverse Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Traverse Township, MI
How much do homes in West Traverse Township, MI cost?
Median Sold Price
$685,500
$290/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in West Traverse Township have sold for 18.2% more than they did a year ago.
Summary: The median home sold price in West Traverse Township was $685,500 in April 2024, up 18.2% from last year, and the median price per square foot was $290.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $270K | $324.5K | +20.2% |
| 2 Bedrooms | $440K | $1.0M | +140.9% |
| 3 Bedrooms | $549.9K | $545K | -0.9% |
| 4 Bedrooms | $548.5K | $887.5K | +61.8% |
| 5+ Bedrooms | $884.9K | $2.2M | +148.6% |
Summary: West Traverse Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.2%, 2 bedroom homes increased by 140.9%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 61.8%, and 5+ bedroom homes increased by 148.6%.
Median Sold Price Compared To Nearby Cities
| Pleasantview Township | $330K | $450K | +36.4% |
| West Traverse Township | $580K | $685.5K | +18.2% |
| Harbor Springs | $455K | $525.3K | +15.5% |
| Little Traverse Township | $410K | $405K | -1.2% |
Housing Supply in West Traverse Township, MI
How many homes are available in West Traverse Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 20 | +42.9% |
Summary: The West Traverse Township real estate market had 20 homes for sale in April 2024, a 42.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The West Traverse Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Traverse Township, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in West Traverse Township in April 2024, up by 150.0% month-over-month. Of the 5 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% 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
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.