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

$471,227

AVERAGE PRICE OF 285 HOMES

$564,732

AVERAGE PRICE OF 2 DISTRESSED HOMES

$1,598,749

AVERAGE PRICE OF 10 MULTI-MILLION DOLLAR HOMES

$600,513

AVERAGE PRICE OF 67 NEWLY BUILT HOMES

$432,021

AVERAGE PRICE OF 79 HOMES WITH A POOL

$495,161

AVERAGE PRICE OF 63 REDUCED PRICE HOMES

Average Home

Average Price $471,227
Avg Bedrooms 3 beds
Avg Bathrooms 2.55 baths

Average Price by Bedrooms

1 bedroom n/a
2 bedrooms $178,780
3 bedrooms $325,213
4 bedrooms $560,207
5 bedrooms $746,601
Novi Home Price Trends
  4/2017 3/2017 2/2017 1/2017 12/2016
Total Listings 238 205 196 189 207
Average Price $489,245 $494,212 $479,435 $469,394 $456,990
Avg Price Change -1.02% +3.08% +2.14% +2.71% -1.58%
Median Price $441,827 $441,599 $408,846 $370,596 $361,925
Med Price Change +0.05% +8.01% +10.32% +2.40% -13.98%
Avg Bedrooms 3 beds 3 beds 3 beds 3 beds 3 beds
Avg Bathrooms 2.5 baths 2.52 baths 2.47 baths 2.46 baths 2.5 baths
Home Price by House Size
Total Homes Average Price Avg Days on Market
All Homes 285 $471,227 73 days
Distressed Homes 2 $564,732 330 days
Multi-Million Dollar Homes 10 $1,598,749 264 days
Newly Built Homes 67 $600,513 149 days
Homes with a Pool 79 $432,021 56 days
Reduced Price Homes 63 $495,161 99 days