Traverse City Sees Ongoing Real Estate Boom and Market Developments

News Summary

Traverse City, Michigan, is witnessing a significant growth in its real estate sector, driven by a surge in home sales and new business openings. A new office by @properties REMI Christie’s International Real Estate has opened downtown, targeting top local agents and reflecting economic vitality. Recent reports show a 33% increase in home sales from May to June, alongside a notable demographic shift as the city attracts new residents seeking a sustainable lifestyle. Continued infrastructure improvements and community initiatives further enhance Traverse City’s appeal as a thriving destination.

Traverse City Sees Ongoing Real Estate Boom and Market Developments

Traverse City, Michigan — A new real estate office, @properties REMI Christie’s International Real Estate, has opened recently in the downtown area, signaling continued growth in the local housing market. Situated in the historic former Cousin Jenny’s building at the intersection of Union and State streets, the office has quickly attracted several top-performing local agents, indicating strong confidence in the region’s real estate landscape.

New Office Draws Prominent Local Agents

The launch of this office has been notable for securing several high-performing agents in a short period. The Christy’s International branding is globally recognized, primarily related to its high-end auction house, which adds prestige and visibility to the new local branch. This strategic positioning aims to bolster property sales and attract more clients to the area.

Home Sales Surge in Grand Traverse County

Recent data highlights a significant increase in home sales within Grand Traverse County. In June, a total of 282 homes were sold, representing a 33% rise from the previous month, when 212 homes changed hands. While first-half 2025 sales approach the pace of 2024, showing 1,099 properties sold, this figure is still slightly below the same period last year, which recorded 1,120 sales, a decrease of 1.9%.

Market Trends and Historical Context

The year-to-date record for home sales through June was set in 2021, with 1,459 residential properties sold. The current figures indicate steady but slightly slowed activity compared to the peak years, with ongoing opportunities for buyers and sellers alike.

Local Government and Infrastructure Developments

With the increase in real estate transactions and population growth, the local judicial system is under review for the potential need to establish an additional elected judge to address rising Probate Court workloads. Simultaneously, community infrastructure continues to expand, most notably through significant upgrades at Cherry Capital Airport. The airport now handles approximately 770,000 passengers annually, a reflection of the region’s growing tourism and business activity.

Economic and Demographic Influences

The community benefits from the distribution of gaming revenue, with the Grand Traverse Band of Ottawa & Chippewa Indians allocating over $706,758.54 to local governments. Meanwhile, Traverse City is increasingly becoming a destination for climate refugees from regions like the West Coast and Arizona, drawn by its natural beauty and active lifestyle options.

Real Estate Market Insights

Property listings across northern Michigan now feature a broad array of homes priced around $500,000, with diverse amenities and location options. Local realtors note that the housing market has become more stable, emphasizing the importance of flexibility and clear offers for buyers to successfully transact in this environment.

Focus on Workforce Housing and Development

Developers highlight the importance of increasing housing options for the growing hospitality sector workforce, recognizing that sustainable community growth depends on sufficient affordable housing opportunities to meet demand.

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Additional Resources

• Record Eagle: June Sees Boost in Regional Home Sales
• Forbes: Climate Resiliency Drawing New Buyers to Traverse City
• MLive: Lush Golf Course in Your Own Backyard in Northern Michigan
• Northern Express: What Does $500K Get You in Northern Michigan Real Estate?
• Crain’s Detroit: Properties REMI Christie’s International Real Estate Expands