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

$480,344

AVERAGE PRICE OF 202 HOMES

$454,477

AVERAGE PRICE OF 16 DISTRESSED HOMES

$1,917,750

AVERAGE PRICE OF 10 MULTI-MILLION DOLLAR HOMES

$587,200

AVERAGE PRICE OF 69 NEWLY BUILT HOMES

$425,541

AVERAGE PRICE OF 53 HOMES WITH A POOL

$381,747

AVERAGE PRICE OF 46 REDUCED PRICE HOMES

Average Home

Average Price $480,344
Avg Bedrooms 3 beds
Avg Bathrooms 2.5 baths

Average Price by Bedrooms

1 bedroom n/a
2 bedrooms $169,525
3 bedrooms $286,893
4 bedrooms $562,305
5 bedrooms $858,097
Novi Home Price Trends
  1/2017 12/2016 11/2016 10/2016 9/2016
Total Listings 189 207 241 261 295
Average Price $469,394 $456,990 $464,198 $450,839 $455,962
Avg Price Change +2.71% -1.58% +2.96% -1.14% n/a
Median Price $370,596 $361,925 $412,537 $403,012 $384,551
Med Price Change +2.40% -13.98% +2.36% +4.80% n/a
Avg Bedrooms 3 beds 3 beds 3 beds 3 beds 3 beds
Avg Bathrooms 2.46 baths 2.5 baths 2.52 baths 2.54 baths 2.53 baths
Home Price by House Size
Total Homes Average Price Avg Days on Market
All Homes 202 $480,344 90 days
Distressed Homes 16 $454,477 145 days
Multi-Million Dollar Homes 10 $1,917,750 257 days
Newly Built Homes 69 $587,200 108 days
Homes with a Pool 53 $425,541 82 days
Reduced Price Homes 46 $381,747 146 days