Discover the Best Traverse City, MI Condos for Sale This Year

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Traverse City, Michigan

Nestled on the shores of Grand Traverse Bay, Traverse City offers a unique blend of natural beauty and vibrant city living. Known for its picturesque landscapes, this charming town is a hub for outdoor enthusiasts and those looking for a slower pace of life, while still enjoying the conveniences of modern amenities.

Whether you're exploring the stunning beaches, savoring local wines at award-winning vineyards, or taking part in the lively arts scene, Traverse City promises a welcoming atmosphere for all. With a variety of neighborhoods, including waterfront properties, downtown condos, and serene suburban retreats, Traverse City offers diverse options for homeowners and investors alike. Whether you’re a first-time homebuyer or a seasoned investor, Traverse City provides a perfect balance of lifestyle and opportunity.

Real Estate Statistics

Average Price	$445K
Lowest Price	$445K
Highest Price	$445K
Total Listings	1
Avg. Price/SQFT	$360

Property Types (active listings)

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$445,000

10621 Waterford Road, Traverse City

3 Beds 3 Baths 1,237 SqFt Residential MLS® # 478693

Top 20+ Traverse City, MI Condos for Sale You Can't Miss in 2025

Discover the best Traverse City, MI condos for sale in 2025. Explore top neighborhoods, market trends, pricing insights, and expert tips to buy your dream condo today!

Why Choose a Condo in Traverse City, MI?

Located along the shores of Lake Michigan, Traverse City offers more than just stunning scenery. For those seeking a balance between urban comfort and natural beauty, Traverse City, MI condos for sale are a golden opportunity. With maintenance-free living, community amenities, and walkable locations, condos provide a lifestyle that’s both convenient and enriching.

Buying a condo here means you're not just getting a place to live—you're investing in a lifestyle filled with outdoor adventures, fine dining, vibrant art scenes, and breathtaking lakefront views.

The Charm of Traverse City: A Quick Overview

Traverse City is known as the "Cherry Capital of the World" and boasts a lively community surrounded by freshwater beaches, vineyards, forests, and ski resorts. The city's downtown buzzes with boutique shops, craft breweries, and restaurants. It's a hub for year-round activities like boating, hiking, and wine tasting. The quality of life here is hard to match—making it a hotspot for retirees, remote workers, and vacation home buyers alike.

Advantages of Buying a Condo over a House

Here’s why many people are drawn to condos instead of traditional houses in Traverse City:

• Low Maintenance: HOA typically covers exterior upkeep, landscaping, and snow removal.

• Community Features: Pools, gyms, clubhouses, and gated security.

• Affordability: Often cheaper than single-family homes in the same neighborhood.

• Ideal Locations: Many condos are right in the heart of downtown or on the lakefront.

Top Neighborhoods in Traverse City for Condo Buyers

Traverse City isn’t huge, but each neighborhood has a distinct vibe and condo offerings. Here's where to focus your search:

Downtown Traverse City

Perfect for buyers who crave the pulse of city life. Walk to coffee shops, parks, and the waterfront. Expect modern lofts, chic new builds, and historic renovated condos.

Slabtown

Located just northwest of downtown, Slabtown is a quiet, charming community close to the beach. It’s great for families and retirees seeking peace with proximity.

The Commons and Boardman

Offering unique condos inside repurposed historical buildings like the old State Hospital, these areas blend heritage with modern touches. The Boardman neighborhood is walkable and scenic with river views and wooded trails.

Check out this video to take a drone tour of Traverse City, Michigan!

Market Trends for Traverse City, MI Condos (2024-2025)

The Traverse City condo market has shown remarkable resilience and growth. Here’s what buyers need to know:

Average Condo Prices in Traverse City

As of early 2025:

• Entry-level condos: Start around $220,000

• Mid-range units: $300,000–$450,000

• Luxury and waterfront: $600,000 and up

Prices vary by proximity to the lake, amenities, and neighborhood.

How the Market Compares to Statewide Trends

Traverse City’s condo market is hotter than many areas in Michigan due to its tourism appeal and limited inventory. Demand stays strong year-round, especially from out-of-state buyers.

Types of Condos Available in Traverse City

There’s something for every buyer—whether you’re a retiree, investor, or first-time homeowner.

Waterfront Condos on Lake Michigan and Boardman Lake

These offer direct lake access, panoramic views, and premium amenities. Expect top-tier finishes, secure parking, and high HOA fees—but for many, it’s worth every penny.

Affordable Entry-Level Condos

Ideal for young professionals or seasonal residents. These are often just outside downtown or in smaller developments with fewer amenities but solid value.

Luxury and High-End Condominiums

Designed with upscale buyers in mind, these include penthouses, custom kitchens, spa bathrooms, and concierge services—often with commanding lake or city views.

Buying Process for a Condo in Traverse City

Purchasing a condo in Traverse City is relatively straightforward, but local knowledge and preparation can make a huge difference. Here’s a breakdown of the key steps.

Hiring a Local Real Estate Agent

Local real estate agents bring critical insights into the Traverse City market. They know which buildings have solid HOA reputations, which properties are appreciating, and which are overpriced. Look for agents with strong reviews, local experience, and condo-specific knowledge.

Getting Pre-approved for a Mortgage

Before you start shopping, getting pre-approved sets your budget and boosts your credibility with sellers. Choose a lender familiar with Michigan’s property laws and Traverse City’s condo market. Many waterfront and high-rise condos may also require special financing due to HOA regulations.

HOA Considerations and Condo Fees

Condos come with homeowners associations (HOAs) that handle communal upkeep. Expect to pay monthly dues ranging from $150 to $600+. Review the HOA’s budget, reserve funds, and meeting notes to avoid surprise assessments or poorly managed communities.

Best Real Estate Agencies for Traverse City Condos

Find Your Dream Condo with BrookWalsh.com Today!

Ready to make Traverse City your home or next investment? At BrookWalsh.com, we specialize in luxury and waterfront condos, off-market listings, and exclusive investment opportunities across Northern Michigan.

✅ Expert local knowledge
✅ Access to private and pre-listed properties
✅ Hassle-free buying experience from search to close

Start your condo search now at BrookWalsh.com or contact us for a personalized consultation.
Your dream condo is just one click away!

Traverse City Condo Investment Potential

Condos in Traverse City aren’t just great homes—they’re smart investments.

• Vacation Rentals: Many condos near the lake or downtown are eligible for short-term rentals on Airbnb or Vrbo.

• Appreciation Rates: Property values in Traverse City have consistently risen by 5–8% annually.

• Seasonal Demand: Summer sees a surge in tourism, increasing both rental rates and resale interest.

Investors should verify rental rules with HOAs and the city, as some complexes limit short-term leases.

Seasonal Condo Buying Tips in Northern Michigan

Timing can influence both price and selection.

• Spring/Summer: Peak listing season; more choices but also more competition.

• Fall: Fewer listings, but motivated sellers often price to sell.

• Winter: Limited inventory, but the best chance to negotiate lower prices.

If you’re looking for a deal, touring properties in February or March before the spring rush can be a smart move.

What to Look for in a Traverse City Condo

Here’s what to consider beyond just price:

• Location: Close to beaches, downtown, trails?

• View: Lakefront, wooded, or cityscape?

• Floor Plan: Open concept, number of bedrooms, outdoor space?

• Amenities: Gym, pool, elevators, covered parking?

• HOA Health: Well-funded with strong community governance?

Always conduct a thorough inspection and consider the age of the building, any recent renovations, and the reserve fund status.

Explore Turnkey Condo Living with Northern Michigan Escapes

Looking for a condo that doubles as a personal getaway and an income-generating vacation rental? Northern Michigan Escapes specializes in full-service property management and real estate services tailored for luxury and investment-minded buyers.

Whether you're eyeing a downtown loft or a lakeside retreat, their team can help you:

• Find top-tier Traverse City condos

• Manage short-term rentals effortlessly

• Maximize ROI with expert local guidance

Visit NorthernMichiganEscapes.com to browse premium condos and explore full-service property solutions today!

Cost of Living in Traverse City, MI

While Traverse City is more affordable than major metro areas, it’s slightly pricier than rural Michigan towns.

Waterfront or luxury units naturally come with higher ongoing costs.

Resident Testimonials and Real Stories

Jessica M., Retiree from Ohio:
"We wanted a peaceful but active lifestyle. Our condo in The Commons gives us historic charm, access to walking trails, and friendly neighbors."

Mark D., Remote Tech Worker:
"Living downtown means I can work from a coffee shop, paddleboard during lunch, and enjoy gourmet food every night. Traverse City is ideal."

Amy T., Investor:
"Our condo pays for itself every summer through vacation rentals. And we still get to enjoy it every fall!"

FAQs About Traverse City, MI Condos for Sale

1. Are there pet-friendly condos in Traverse City?
A. Yes, many condos are pet-friendly, especially newer builds. Always confirm HOA rules on pets and sizes.

2. Can I use my condo as a short-term rental?
A. Depends on the condo. Check with the HOA and city regulations before purchasing if rental income is a goal.

3. What is the average down payment for a Traverse City condo?
A. Typically 5–20%, but some financing programs for first-time buyers may offer lower options.

4. Do condos appreciate as fast as single-family homes?
A. In Traverse City, well-located condos appreciate at similar or better rates due to high demand and limited supply.

5. Are lakefront condos more expensive?
A. Yes, lakefront units are premium-priced due to views and location, often starting at $500,000+.

6. What should I budget for closing costs?
A. Estimate 2–5% of the purchase price, including taxes, title fees, and inspections.

Final Thoughts: Should You Buy a Condo in Traverse City?

Absolutely—if you're looking for a lifestyle that blends leisure, community, and long-term value. Traverse City, MI condos for sale offer diverse options for all budgets and lifestyles, from retirees seeking peace and quiet to professionals and investors looking to make smart choices in a fast-growing market.

Whether you want a low-maintenance weekend retreat or a forever home near the lake, the Traverse City condo market has something for you.

Explore homes in the condominium lifestyle communities below or contact Brook Walsh to help with your search. You can also reach Brook by phone at (231) 459-3179 for all of your Northern Michigan real estate needs.