Although the total number of home sales has decreased year-over-year, the median home sales price has actually increased.
Continue reading to learn more about the most recent market data for Novi, Michigan.
Properties for Real Estate Sale in Novi
Here’s a brief summary of Novi real estate market activity over the last few weeks:
- Currently there are 252 homes for sale on the market, including 176 in some stage of the foreclosure process.
- Between March and May, the median sales price for Novi homes was $155,340, up 5.1 percent when compared to the same period in 2011.
- During that period in 2011, the median sales price was about $147,781.
- Here’s how nearby communities compared when it came to median sales price:
- Also between March and May of this year, the total number of home sales was 47, down 75.6 percent when compared to the same period in 2011.
- During the week ending on July 4, the average listing price for Novi homes was $332,792, down 5.4 percent from the previous week.
- During that previous week, the average listing price was about $351,500.
- During the week ending on July 4, the average listing price for a 2-bedroom Novi home was $147,015.
- The average listing price for a 3-bedroom home was $229,261.
- And the average listing price for a 4-bedroom home was $404,085.
- Here’s how other communities compared in terms of average listing price:
Walled Lake: $147,902
New Hudson: $251,256
Wolverine Lake: $157,846
Farmington Hills: $233,767
Novi Home Selling Made Easy!
Although fewer homes are selling in the Novi area than a year ago, those sellers who are able to sell their home are doing so at higher prices.
I’ll explain to you the comprehensive home marketing plan I offer Novi home sellers as well as provide you with a complimentary Novi real estate home evaluation.
Until next time,