If you're looking for a new home or you are relocating to the Traverse City area, JDX Real Estate can assist with your Traverse City home buying and selling needs.
We've got lots of experience in Traverse City-area real estate, from all the townships to multifamily properties in & around Traverse City. We also love market stats and you'll always find lots of great information here on local market conditions.
Comprising the vast majority of the Old Mission Peninsula, straddled by East and West Grand Traverse Bay, Peninsula Township is one of the most desirable areas in Michigan. Traverse City is known as the Cherry Capital of the world and tourists flock to see the Cherry blossoms in May. In addition, Peninsula is a designated American Viticulture Area and is home to 10 vineyards that produce internationally recognized wines. Wine tours have become an increasingly important part of the local economy.
Between the low inventory of available homes, particularly in the $200,000 to $300,000 range, and low interest rates, competition for homes on the market is high. Buyers have been finding themselves in bidding wars, with some properties selling above the asking price.
Spring typically brings an increase to the number of houses on the market, but can also bring with it an increase in buyers, meaning that, depending on any substantial changes in the economy, the seller's market is likely to continue.