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

$476,508

AVERAGE PRICE OF 322 HOMES

$699,900

AVERAGE PRICE OF 1 DISTRESSED HOMES

$1,630,407

AVERAGE PRICE OF 13 MULTI-MILLION DOLLAR HOMES

$599,421

AVERAGE PRICE OF 84 NEWLY BUILT HOMES

$420,380

AVERAGE PRICE OF 95 HOMES WITH A POOL

$467,138

AVERAGE PRICE OF 69 REDUCED PRICE HOMES

Average Home

Average Price $476,508
Avg Bedrooms 3 beds
Avg Bathrooms 2.55 baths

Average Price by Bedrooms

1 bedroom n/a
2 bedrooms $165,788
3 bedrooms $313,879
4 bedrooms $576,977
5 bedrooms $842,000
Novi Home Price Trends
  6/2017 5/2017 4/2017 3/2017 2/2017
Total Listings 294 271 238 205 196
Average Price $486,304 $479,094 $489,245 $494,212 $479,435
Avg Price Change +1.50% -2.12% -1.02% +3.08% +2.14%
Median Price $448,936 $440,862 $441,827 $441,599 $408,846
Med Price Change +1.83% -0.22% +0.05% +8.01% +10.32%
Avg Bedrooms 3 beds 3 beds 3 beds 3 beds 3 beds
Avg Bathrooms 2.58 baths 2.52 baths 2.5 baths 2.52 baths 2.47 baths
Home Price by House Size
Total Homes Average Price Avg Days on Market
All Homes 322 $476,508 73 days
Distressed Homes 1 $699,900 493 days
Multi-Million Dollar Homes 13 $1,630,407 228 days
Newly Built Homes 84 $599,421 151 days
Homes with a Pool 95 $420,380 58 days
Reduced Price Homes 69 $467,138 101 days