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

$501,714

AVERAGE PRICE OF 208 HOMES

$622,700

AVERAGE PRICE OF 6 DISTRESSED HOMES

$1,858,408

AVERAGE PRICE OF 11 MULTI-MILLION DOLLAR HOMES

$588,373

AVERAGE PRICE OF 69 NEWLY BUILT HOMES

$496,135

AVERAGE PRICE OF 56 HOMES WITH A POOL

$427,228

AVERAGE PRICE OF 37 REDUCED PRICE HOMES

Average Home

Average Price $501,714
Avg Bedrooms 3 beds
Avg Bathrooms 2.52 baths

Average Price by Bedrooms

1 bedroom n/a
2 bedrooms $178,700
3 bedrooms $321,567
4 bedrooms $577,826
5 bedrooms $901,226
Novi Home Price Trends
  2/2017 1/2017 12/2016 11/2016 10/2016
Total Listings 196 189 207 241 261
Average Price $479,435 $469,394 $456,990 $464,198 $450,839
Avg Price Change +2.14% +2.71% -1.58% +2.96% -1.14%
Median Price $408,846 $370,596 $361,925 $412,537 $403,012
Med Price Change +10.32% +2.40% -13.98% +2.36% +4.80%
Avg Bedrooms 3 beds 3 beds 3 beds 3 beds 3 beds
Avg Bathrooms 2.47 baths 2.46 baths 2.5 baths 2.52 baths 2.54 baths
Home Price by House Size
Total Homes Average Price Avg Days on Market
All Homes 208 $501,714 86 days
Distressed Homes 6 $622,700 148 days
Multi-Million Dollar Homes 11 $1,858,408 251 days
Newly Built Homes 69 $588,373 123 days
Homes with a Pool 56 $496,135 73 days
Reduced Price Homes 37 $427,228 136 days