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

$494,175

AVERAGE PRICE OF 339 HOMES

$599,450

AVERAGE PRICE OF 2 DISTRESSED HOMES

$1,815,231

AVERAGE PRICE OF 13 MULTI-MILLION DOLLAR HOMES

$606,274

AVERAGE PRICE OF 75 NEWLY BUILT HOMES

$499,481

AVERAGE PRICE OF 79 HOMES WITH A POOL

$514,131

AVERAGE PRICE OF 85 REDUCED PRICE HOMES

Average Home

Average Price $494,175
Avg Bedrooms 3.57 beds
Avg Bathrooms 2.54 baths

Average Price by Bedrooms

1 bedroom $127,400
2 bedrooms $209,611
3 bedrooms $371,282
4 bedrooms $563,516
5 bedrooms $884,661
Novi Home Price Trends
  6/2018 5/2018 4/2018 3/2018 2/2018
Total Listings 308 297 n/a 212 202
Average Price $504,034 $494,941 n/a $519,227 $511,895
Avg Price Change +1.84% n/a n/a +1.43% +0.08%
Median Price $460,336 $457,567 n/a $465,588 $466,207
Med Price Change +0.61% n/a n/a -0.13% -4.52%
Avg Bedrooms 3.56 beds 3.5 beds n/a 3 beds 3 beds
Avg Bathrooms 2.54 baths 2.53 baths n/a 2.62 baths 2.62 baths
Total Homes Average Price Avg Days on Market
All Homes 339 $494,175 62 days
Distressed Homes 2 $599,450 44 days
Multi-Million Dollar Homes 13 $1,815,231 75 days
Newly Built Homes 75 $606,274 131 days
Homes with a Pool 79 $499,481 64 days
Reduced Price Homes 85 $514,131 87 days