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

$491,273

AVERAGE PRICE OF 255 HOMES

$405,266

AVERAGE PRICE OF 3 DISTRESSED HOMES

$1,667,940

AVERAGE PRICE OF 10 MULTI-MILLION DOLLAR HOMES

$600,108

AVERAGE PRICE OF 69 NEWLY BUILT HOMES

$442,431

AVERAGE PRICE OF 69 HOMES WITH A POOL

$435,960

AVERAGE PRICE OF 75 REDUCED PRICE HOMES

Average Home

Average Price $491,273
Avg Bedrooms 3 beds
Avg Bathrooms 2.59 baths

Average Price by Bedrooms

1 bedroom $139,900
2 bedrooms $189,048
3 bedrooms $354,417
4 bedrooms $569,002
5 bedrooms $840,855
Novi Home Price Trends
  10/2017 9/2017 8/2017 7/2017 6/2017
Total Listings 292 316 325 320 294
Average Price $470,775 $442,566 $434,862 $477,564 $486,304
Avg Price Change +6.37% +1.77% -9.82% -1.83% +1.50%
Median Price $438,017 $426,044 $423,984 $448,331 $448,936
Med Price Change +2.81% +0.49% -5.74% -0.13% +1.83%
Avg Bedrooms 3 beds 3 beds 3 beds 3 beds 3 beds
Avg Bathrooms 2.57 baths 2.49 baths 2.44 baths 2.55 baths 2.58 baths
Total Homes Average Price Avg Days on Market
All Homes 255 $491,273 80 days
Distressed Homes 3 $405,266 44 days
Multi-Million Dollar Homes 10 $1,667,940 77 days
Newly Built Homes 69 $600,108 137 days
Homes with a Pool 69 $442,431 64 days
Reduced Price Homes 75 $435,960 104 days