Why Live in South Traverse City
South Traverse City, or as locals call it, “SoFo” for being south of Fourteenth Street, offers a comfortable suburban lifestyle next to Boardman Lake, the largest lake in city limits. Most residents live in subdivisions away from the water, though there are a few waterfront developments. Stores, restaurants and bars are all nearby, some even within walking distance of homes. The community is also home to Traverse City Country Club and is only a few minutes from downtown and Grand Traverse Bay beaches. South Traverse City has a suburban layout of mostly single-family homes built between the late 1800s and 2000s, with lot sizes typically close to a quarter of an acre. Older one-to-four-bedroom bungalows range from around $250,000 to $360,000. Midcentury ranch-style houses, bi-levels and Cape Cods sell for about $390,000 to $560,000. New Traditional homes built in the 2000s typically cost between $560,000 and $675,000, though one with upscale interiors recently sold for $1 million. Single-family homes along Boardman Lake rarely come on the market. In recent years, only one sold for $860,000. Waterfront condominium units range from $520,000 to $590,000. Three-bedroom townhouse
Home Trends in South Traverse City, MI
On average, homes in South Traverse City, Traverse City sell after 45 days on the market compared to the national average of 51 days. The median sale price for homes in South Traverse City, Traverse City over the last 12 months is $460,000, up 8% from the median home sale price over the previous 12 months.
Median Sale Price
$460,000
Median Single Family Sale Price
$460,000
Median Townhouse Sale Price
$264,400
Median 2 Bedroom Sale Price
$326,950
Median 1 Bedroom Sale Price
$199,000
Average Price Per Sq Ft
$321
Number of Homes for Sale
5
Last 12 months Home Sales
62
Median List Price
$447,000
Median Change From 1st List Price
5%
Median Home Sale Price YoY Change
8%