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

$474,380

AVERAGE PRICE OF 295 HOMES

$679,900

AVERAGE PRICE OF 1 DISTRESSED HOMES

$1,710,445

AVERAGE PRICE OF 11 MULTI-MILLION DOLLAR HOMES

$597,124

AVERAGE PRICE OF 73 NEWLY BUILT HOMES

$393,511

AVERAGE PRICE OF 82 HOMES WITH A POOL

$456,433

AVERAGE PRICE OF 85 REDUCED PRICE HOMES

Average Home

Average Price $474,380
Avg Bedrooms 3 beds
Avg Bathrooms 2.59 baths

Average Price by Bedrooms

1 bedroom $139,900
2 bedrooms $195,065
3 bedrooms $343,706
4 bedrooms $583,966
5 bedrooms $803,963
Novi Home Price Trends
  9/2017 8/2017 7/2017 6/2017 5/2017
Total Listings 316 325 320 294 271
Average Price $442,566 $434,862 $477,564 $486,304 $479,094
Avg Price Change +1.77% -9.82% -1.83% +1.50% -2.12%
Median Price $426,044 $423,984 $448,331 $448,936 $440,862
Med Price Change +0.49% -5.74% -0.13% +1.83% -0.22%
Avg Bedrooms 3 beds 3 beds 3 beds 3 beds 3 beds
Avg Bathrooms 2.49 baths 2.44 baths 2.55 baths 2.58 baths 2.52 baths
Total Homes Average Price Avg Days on Market
All Homes 295 $474,380 76 days
Distressed Homes 1 $679,900 18 days
Multi-Million Dollar Homes 11 $1,710,445 65 days
Newly Built Homes 73 $597,124 158 days
Homes with a Pool 82 $393,511 52 days
Reduced Price Homes 85 $456,433 96 days