This Independence Day marks the 250th birthday of the United States, but in Traverse City, MI, the date has special local significance as well.
This year is the city’s 100th annual Cherry Festival, a weeklong celebration of local cherry farmers, which kicks off on July 4th. There’ll be an air show, parades, races, and concerts, with KC and the Sunshine Band, David Lee Roth, Bow Wow, and Soulja Boy slated to perform.
The Cherry Festival celebrates Traverse City’s status as the Cherry Capital of the World, but that’s not the only thing the town is known for: Traverse City was just named the Best American Lake Town by Boatmart, an online boating marketplace.
Not surprisingly, Boatmart picked its top lake town based on marina quality and access to boat launches, but it also considered the community’s other amenities.
Traverse City ranked highly because of its proximity to natural beauty, like the Sleeping Bear Dunes National Lakeshore, where 400-foot-high dunes tower over the Lake Michigan shoreline, and Clinch Park, where visitors can enjoy white-sand beaches.
Traverse City, situated on the southern tip of Traverse Bay within Lake Michigan, is a community of around 16,000, though the town’s greater metropolitan area has a population of about 153,000. The centerpiece of Traverse City Old Mission Peninsula is a 16-mile-long stretch dotted with wineries, breweries, and beaches.
Locals can take advantage of year-round outdoor activities, from sailing and kayaking in the summer to skiing in the winter.
“Boating isn’t just a vacation activity here; it’s part of the community,” says Andy LaPointe, the owner of Traverse Bay Farms. “Life simply moves at a different pace here. On a warm summer morning, it’s a common sight to see sailboats and cabin cruisers leaving Clinch Park Marina to enjoy the day on the water.”
There are also options for locals and visitors who are water-averse. The region is home to two viticultural areas and is responsible for around 60% of Michigan’s grape supply. And then, of course, there are the cherries.
Most summer afternoons, says LaPointe, “visitors and locals alike are stopping at roadside stands or filling buckets at U-pick cherry orchards on Old Mission Peninsula. As evening approaches, the downtown sidewalks are filled with folks enjoying ice cream and visiting the local shops.”
Of course, life in a lake Shangri-La doesn’t come cheap. The median listing price in Traverse City was $524,000 in May, and there were just over 300 active listings available, down slightly from last year.
Lakefront homes in Traverse City carry a significant premium, with a median list price of $861,000. The local market has seen a surge of demand for such properties in recent years, leaving supply scarce.
“This market has leveled out over the last year with home prices, inventory, and days on market holding roughly steady,” says Realtor.com® senior economist Hannah Jones. “This market has seen severe inventory strain over the last six years, driving prices higher as demand outpaced supply.”
If you’re looking for lakeside living but feel like Traverse City is out of your league, check out these other top lake towns that received honorable mentions from Boatmart:
Lake George, NY
Median listing price: $650,000
Median days on the market: 54
Active listings: 100
Osage Beach and Lake Ozark, MO
Median listing price: $330,000
Median days on the market: 75
Active listings: 480
Plattsburgh, NY
Median listing price: $259,000
Median days on the market: 40
Active listings: 176
Burlington, VT
Median listing price: $575,000
Median days on the market: 46
Active listings: 171
Winter Park, FL
Median listing price: $625,000
Median days on the market: 60
Active listings: 448
Oswego, NY
Median listing price: $175,000
Median days on the market: 35
Active listings: 174
Ithaca, NY
Median listing price: $434,000
Median days on the market: 44
Active listings: 346
Guntersville, AL
Median listing price: $322,000
Median days on the market: 140
Active listings: 433
Acworth, GA
Median listing price: $459,000
Median days on the market: 45
Active listings: 747
South Lake Tahoe, CA
Median listing price: $699,000
Median days on the market: 58
Active listings: 352
Page, AZ
Median listing price: $276,000
Median days on the market: 97
Active listings: 89
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