According to Zillows Traverse City Market over view August 2017. The median list price per square foot in Traverse City is $253, which is higher than the Traverse City Metro average of $184. The median price of homes currently listed in Traverse City is $334,950.
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Traverse City is 0.0%, which is lower than the national value of 0.0%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Traverse City homeowners underwater on their mortgage is 0.1%.