Novi

Why you'd want to live in Novi

Business and community members choose Novi because we believe Quality of life…is the way of life. In Novi, there is much to be proud of — excellent schools, quality public services, safe neighborhoods, preservation of natural features, solid property values, and continued development. Additionally, in Novi, we are extremely proud of our cultural diversity. More than 60 businesses based in Japan and at least 14 businesses based in Germany call Novi “home” in the United States. Combine these factors with fiscal responsibility and an open government that values and welcomes community involvement, and you have a dynamic, prospering city. Our community has much to offer prospective companies. Located at the convergence of four major expressways, Novi has unparalleled access and proximity to health care, technology, and automotive industry headquarters. This, coupled with vibrant retail centers, sets Novi apart from other communities and is one of the many reasons businesses choose Novi. via City of Novi website

Novi Market Report

$480,531

AVERAGE PRICE OF 250 HOMES

$633,200

AVERAGE PRICE OF 4 DISTRESSED HOMES

$1,834,949

AVERAGE PRICE OF 10 MULTI-MILLION DOLLAR HOMES

$569,973

AVERAGE PRICE OF 67 NEWLY BUILT HOMES

$474,099

AVERAGE PRICE OF 67 HOMES WITH A POOL

$439,027

AVERAGE PRICE OF 47 REDUCED PRICE HOMES

Average Home

Average Price $480,531
Avg Bedrooms 3 beds
Avg Bathrooms 2.49 baths

Average Price by Bedrooms

1 bedroom n/a
2 bedrooms $177,122
3 bedrooms $312,265
4 bedrooms $563,662
5 bedrooms $841,384
Novi Home Price Trends
  3/2017 2/2017 1/2017 12/2016 11/2016
Total Listings 205 196 189 207 241
Average Price $494,212 $479,435 $469,394 $456,990 $464,198
Avg Price Change +3.08% +2.14% +2.71% -1.58% +2.96%
Median Price $441,599 $408,846 $370,596 $361,925 $412,537
Med Price Change +8.01% +10.32% +2.40% -13.98% +2.36%
Avg Bedrooms 3 beds 3 beds 3 beds 3 beds 3 beds
Avg Bathrooms 2.52 baths 2.47 baths 2.46 baths 2.5 baths 2.52 baths
Home Price by House Size
Total Homes Average Price Avg Days on Market
All Homes 250 $480,531 74 days
Distressed Homes 4 $633,200 200 days
Multi-Million Dollar Homes 10 $1,834,949 244 days
Newly Built Homes 67 $569,973 132 days
Homes with a Pool 67 $474,099 64 days
Reduced Price Homes 47 $439,027 120 days