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

$496,514

AVERAGE PRICE OF 255 HOMES

$509,449

AVERAGE PRICE OF 2 DISTRESSED HOMES

$1,926,100

AVERAGE PRICE OF 9 MULTI-MILLION DOLLAR HOMES

$607,668

AVERAGE PRICE OF 73 NEWLY BUILT HOMES

$461,109

AVERAGE PRICE OF 65 HOMES WITH A POOL

$550,842

AVERAGE PRICE OF 50 REDUCED PRICE HOMES

Average Home

Average Price $496,514
Avg Bedrooms 3 beds
Avg Bathrooms 2.57 baths

Average Price by Bedrooms

1 bedroom $129,950
2 bedrooms $204,027
3 bedrooms $345,912
4 bedrooms $567,773
5 bedrooms $900,267
Novi Home Price Trends
  3/2018 2/2018 1/2018 12/2017 11/2017
Total Listings 212 202 196 227 260
Average Price $519,227 $511,895 $511,476 $491,362 $483,264
Avg Price Change +1.43% +0.08% +4.09% +1.68% +2.65%
Median Price $465,588 $466,207 $487,301 $469,862 $457,648
Med Price Change -0.13% -4.52% +3.71% +2.67% +4.48%
Avg Bedrooms 3 beds 3 beds 3 beds 3 beds 3 beds
Avg Bathrooms 2.62 baths 2.62 baths 2.66 baths 2.59 baths 2.57 baths
Total Homes Average Price Avg Days on Market
All Homes 255 $496,514 69 days
Distressed Homes 2 $509,449 104 days
Multi-Million Dollar Homes 9 $1,926,100 134 days
Newly Built Homes 73 $607,668 124 days
Homes with a Pool 65 $461,109 68 days
Reduced Price Homes 50 $550,842 106 days