Traverse City, August 1, 2025
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 Real Estate Expansion and Market Growth
Traverse City has recently welcomed a new real estate office, @properties REMI Christie’s International Real Estate, located in the historic former Cousin Jenny’s building at the intersection of Union and State streets. This strategic location in downtown Traverse City aims to strengthen local real estate services amid a notable surge in home sales across Grand Traverse County.
New Office Attracts Top Local Agents
The newly established office has successfully attracted several high-performing local real estate agents shortly after opening. The affiliation with Christie’s International Real Estate, a globally recognized brand associated with high-end auction services, positions the office as a significant player in the area’s housing market. The influx of experienced agents suggests a positive outlook for the company’s growth in the region.
Surge in Home Sales Reflects Market Strength
Grand Traverse County experienced a substantial increase in home sales in June, with 282 properties sold. This represents a 33% rise compared to 212 homes sold in May. The first half of 2025 has nearly matched last year’s sales pace, with a total of 1,099 homes sold so far. Nevertheless, this figure indicates a slight decline of 1.9% compared to the same period in 2024, which recorded 1,120 home sales.
The record for year-to-date home sales through June was set in 2021, with 1,459 properties sold, highlighting the growth potential in the local market. Despite fluctuations, the area remains active, with housing inventory offering a range of options primarily priced around $500,000, featuring a variety of amenities and locations.
Local Government and Infrastructure Developments
As a response to increasing demand, Grand Traverse County is under review for the possible addition of another local elected judge to manage rising Probate Court workloads. Additionally, the Grand Traverse Band of Ottawa & Chippewa Indians has distributed more than $700,000 in gaming revenue to support local government initiatives and community projects.
Transport infrastructure is also seeing expansion efforts, notably at the Cherry Capital Airport, which is undergoing substantial growth to accommodate the rising passenger traffic, now reaching approximately 770,000 travelers annually. These developments reflect the region’s expanding economic and demographic profile.
Migration and Housing Trends
Traverse City continues to attract climate refugees from the West Coast and Arizona, drawn by its natural environment and active lifestyle. Developers emphasize the importance of housing supply to support the local workforce, particularly in the expanding hospitality sector. The residential market showcases a wide array of properties around the $500,000 price point, with variations to meet diverse preferences and needs.
Real estate professionals suggest that the current market is steadier, with buyers needing flexibility and clean offers to succeed. Overall, Traverse City’s real estate landscape appears resilient, driven by both local growth and new population inflows.
Summary of Key Features
| Feature | Description |
|---|---|
| New Office Location | Downtown Traverse City in former Cousin Jenny’s building at Union and State streets |
| Agent Attraction | Several top-performing local agents have joined shortly after opening |
| Market Activity | June sales up by 33% from May; nearly matching last year’s first-half total |
| Total Sales (2025) | 1,099 homes sold in six months; down slightly compared to 2024 |
| Record Sales | 2021 saw 1,459 properties sold YTD through June |
| Local Infrastructure | Expansion plans for Cherry Capital Airport; potential new Probate Judge |
| Community Revenue | Gaming revenue distribution of over $700,000 to local governments |
| Migration Trends | Growing influx of climate refugees from West Coast and Arizona |
| Housing Trends | Properties around $500,000 with diverse amenities; market stability with buyer flexibility |
FAQs
What is the significance of the new real estate office in Traverse City?
The new office, affiliated with Christie’s International Real Estate, aims to attract top local agents and enhance real estate services amid rising home sales and market activity in the area.
How has the housing market performed this year in Grand Traverse County?
Home sales increased notably in June, with a 33% rise from May, and the first half of 2025 nearly matched the previous year’s sales, though slight declines are observed compared to 2024 overall.
What infrastructure developments are occurring in Traverse City?
The Cherry Capital Airport is expanding to handle increased passenger numbers, currently around 770,000 annually, while county officials are reviewing the need for additional judicial capacity to handle increased legal workload.
What are the current housing price trends in northern Michigan?
Homes are commonly listed around $500,000, with a range of amenities and locations, and the market is described as stable, with buyers needing to be flexible and make clean offers.
Deeper Dive: News & Info About This Topic
HERE Resources
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
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