Novi Market Report
$701,971
AVERAGE PRICE OF 131 HOMES$589,000
AVERAGE PRICE OF 1 DISTRESSED HOMES$1,428,934
AVERAGE PRICE OF 28 MULTI-MILLION DOLLAR HOMES$1,043,521
AVERAGE PRICE OF 42 NEWLY BUILT HOMES$537,508
AVERAGE PRICE OF 28 HOMES WITH A POOL$683,499
AVERAGE PRICE OF 6 REDUCED PRICE HOMESAverage Home
| Average Price | $701,971 |
| Avg Bedrooms | 3.55 beds |
| Avg Bathrooms | 2.63 baths |
Average Price by Bedrooms
| 1 bedroom | $143,000 |
| 2 bedrooms | $473,582 |
| 3 bedrooms | $443,166 |
| 4 bedrooms | $848,146 |
| 5 bedrooms | $1,227,658 |
Novi Home Price Trends
| 8/2023 | 7/2023 | 6/2023 | 5/2023 | 4/2023 | |
|---|---|---|---|---|---|
| Total Listings | 131 | 134 | 129 | 107 | 104 |
| Average Price | $601,299 | $576,059 | $601,709 | $612,414 | $576,491 |
| Avg Price Change | +4.38% | -4.45% | -1.78% | +6.23% | -0.23% |
| Median Price | $503,795 | $478,772 | $513,005 | $504,845 | $484,315 |
| Med Price Change | +5.23% | -7.15% | +1.62% | +4.24% | +2.66% |
| Avg Bedrooms | 3.39 beds | 3.36 beds | 3.36 beds | 3.36 beds | 3.25 beds |
| Avg Bathrooms | 2.5 baths | 2.41 baths | 2.5 baths | 2.48 baths | 2.38 baths |
Home Price by House Size
| Total Homes | Average Price | Avg Days on Site | |
|---|---|---|---|
| All Homes | 131 | $701,971 | 84 days |
| Distressed Homes | 1 | $589,000 | 8 days |
| Multi-Million Dollar Homes | 28 | $1,428,934 | 117 days |
| Newly Built Homes | 42 | $1,043,521 | 183 days |
| Homes with a Pool | 28 | $537,508 | 43 days |
| Reduced Price Homes | 6 | $683,499 | 27 days |
