New Listing
26
$230,000
23659 Stonehenge Blvd
Novi, MI 48375
2 bd2 ba1,771 sqft$130/ft²
Condo
Janet Mcallister · The Charles Reinhart Company
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Novi, MI Housing Market
Seller's market+1.5% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Novi, MI is worth $470,805, rose 1.5% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $474,000, -7.5% year over year (through May 2026). With 2.0 months of supply and homes going under contract in about 17 days, Novi is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $470,805 home is about $2,513/mo in principal and interest.
Key numbers for Novi, MI
Typical home value
$470,805
+1.5% in 12 months
Zillow, August 2026
Typical asking rent
$1,931/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$474,000
-7.5% year over year
Redfin, through May 2026
Days on market
17
Fast-moving
Redfin, through May 2026
Active listings
105
2.0 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$110,938
Home costs 4.2x income
U.S. Census ACS, 2023
Sale-to-list ratio
99.9%
Selling below asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Novi a buyer's or seller's market?
Seller's market2.0 months of supply17 days on market99.9% of asking
Novi, MI is a seller's market, based on 2.0 months of supply and homes selling in about 17 days. Under 4 months of supply tilts the market toward sellers: homes clear faster than they are replaced, so concessions are scarce.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Novi housing market data show?
Every row below is Redfin's final published month for Novi, MI. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $474,000 |
| Median list price | $525,000 |
| Year-over-year price change | -7.5% |
| Median price per sq ft | $221/sq ft |
| Median days on market | 17 days |
| Active inventory | 105 listings |
| Months of supply | 2.0 months |
| Sale-to-list price ratio | 99.9% |
| Homes sold (that month) | 52 |
| New listings (that month) | 98 |
| Listings with a price cut | 29.5% |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Novi is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Novi is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Novi home prices moved?
Over the last three years the median sale price in Novi, MI rose 24.7%, from $380,000 to $474,000. The live Zillow value series has rose 1.5% in the last 12 months, which is the more current read now that Redfin's series has stopped. 29.5% of Novi listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 2.0 months while the sale-to-list ratio slips below its current 99.9%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Novi?
Priced off the typical home value of $470,805 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $94,161 | $376,644 | $2,513/mo |
| 5% | $23,540 | $447,264 | $2,985/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $2,513, that implies roughly $107,718 a year before you add taxes and insurance. The median household in Novi earns $110,938, about $3,220 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 4.2x — above the historical 3x norm but in line with much of the country in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Novi in the next 12 months?
Tell us your timeline. We send the Novi market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Novi?
Typical asking rent in Novi, MI is $1,931/mo, against a typical home value of $470,805. That is a price-to-rent ratio of 20.3x, which means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Compared head to head, 20% down puts principal and interest at $2,513 a month — $582 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Novi?
Active listings in Novi, MI went from 108 in May 2025 to 105 in May 2026, a -2.8% change. Inventory has been roughly flat, which usually keeps prices moving with rates rather than with local supply.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 107 | 91 |
| July 2025 | 125 | 101 |
| August 2025 | 117 | 73 |
| September 2025 | 118 | 63 |
| October 2025 | 101 | 46 |
| November 2025 | 106 | 45 |
| December 2025 | 81 | 24 |
| January 2026 | 73 | 30 |
| February 2026 | 74 | 46 |
| March 2026 | 79 | 65 |
| April 2026 | 90 | 82 |
| May 2026 | 105 | 98 |
Redfin, through May 2026
How does Novi compare to Michigan and the U.S.?
Novi homes sell for $474,000 — 59% above the Michigan median of $297,900. Against the national median of $410,700, Novi runs 15% higher. Year-over-year, Novi moved -7.5% against Michigan's +4.6% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Novi, MI | $474,000 | -7.5% | 17 days |
| Michigan statewide | $297,900 | +4.6% | 24 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Novi
What buyers should watch
- Months of supply, currently 2.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 29.5%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $471 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $470,805 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Novi listing goes under contract in 17 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 99.9% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Novi added 98 new listings against 52 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved +1.5% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Novi varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Novi
There are currently 105 homes listed for sale in Novi, Michigan. The median listing price is $525K. Featured listings range from $230,000 to $850,000.
New Listing
34
$319,998
42142 Roscommon St
Novi, MI 48167
3 bd2 ba1,522 sqft$210/ft²
Townhouse
National Realty Centers, Inc
View photos & details
New Listing
39
$465,000
43440 Cottisford St
Novi, MI 48167
3 bd2 ba1,561 sqft$298/ft²
House42,253 sqft lot
Keith Brandt · Brandt Real Estate
View photos & details
New Listing
31
$465,000
30249 Viewcrest Dr
Novi, MI 48377
3 bd3 ba1,850 sqft$251/ft²
Condo
Anthony Djon Luxury Real Estate
View photos & details
New Listing
7
$500,000
26459 Fieldstone Dr Unit 30
Novi, MI 48374
3 bd2 ba2,332 sqft$214/ft²
Condo
RE/MAX Classic
View photos & details
New Listing
42
$525,000
24707 Picara Dr
Novi, MI 48374
3 bd2 ba1,954 sqft$269/ft²
House10,019 sqft lot
@properties Christie's Int'l RE Northville
View photos & details
New Build
34
$537,990
42810 Atwood Ave
Novi, MI 48375
4 bd4 ba2,179 sqft$247/ft²
Townhouse
View photos & details
New Build
23
$560,990
25424 Orwell St
Novi, MI 48375
4 bd4 ba2,223 sqft$252/ft²
Townhouse
View photos & details
New Build
36
$582,990
42806 Atwood Ave
Novi, MI 48375
4 bd4 ba2,223 sqft$262/ft²
Townhouse
View photos & details
New Listing
50
$699,900
22426 Moorgate St
Novi, MI 48374
4 bd2 ba2,715 sqft$258/ft²
House12,632 sqft lot
KW Professionals
View photos & details
New Listing
72
$779,999
29750 Martell Ct
Novi, MI 48377
5 bd4 ba3,249 sqft$240/ft²
House20,038 sqft lot
Max Broock, REALTORS(R)-Birmingham
View photos & details
New Listing
79
$850,000
24527 Perceval Ln
Novi, MI 48375
4 bd4 ba3,421 sqft$248/ft²
House11,761 sqft lot
Berkshire Hathaway HomeServices Kee Realty Bham
View photos & details
Looking to buy in Novi?
Get connected with a local real estate expert — free, no obligation.
Active listings
105
Homes on market
Median list price
$525K
Avg. days on market
17
Days until sale
New this week
98
Newly listed
Price drops:29.5%of listings
Sale-to-list:99.9%
How much do homes cost in Novi by property type?
How the Novi, MI market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $535,000 | $224/sq ft | 27 | 12 days |
| Condo / co-op | $336,600 | $218/sq ft | 25 | 21 days |
Who lives in Novi?
American Community Survey estimates for Novi. U.S. Census ACS, 2023
Population
66,224
Households
26,474
Median income
$110,938/yr
Median age
39.9 years
Owner-occupied
68.0%
Median home value
$399,100
Median gross rent
$1,696/mo
Mean commute
26.3 min
68.0% of occupied homes in Novi are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $399,100 against Zillow's $470,805 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $1,696/mo, below Zillow's $1,931/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Novi?
13 schools tracked · 8,269 students
The largest public schools serving Novi, MI by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Novi High School
Grades 8-12 · 2,094 students
Novi Middle School
Grades 5-8 · 1,090 students
Novi Meadows School
Grades 5-7 · 1,039 students
Meadowbrook Elementary School
Grades K-5 · 569 students
Hickory Woods Elementary School
Grades K-5 · 528 students
Novi Woods Elementary School
Grades K-4 · 518 students
Village Oaks Elementary School
Grades K-4 · 515 students
Thornton Creek Elementary School
Grades K-5 · 509 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Novi, MI?
Ordered by distance from Novi, not by size. Compare Novi side by side with any of them.
Which ZIP codes are in Novi?
These are the ZIP codes we see on active Novi listings. Redfin did not publish a matching ZIP-level sale row for the same period, so we are not ranking them by price here — each ZIP page shows exactly what we hold for it.
Novi housing market FAQ
Is Novi a buyer's or seller's market?
Novi, MI is currently a seller's market. That read comes from 2.0 months of supply, homes going under contract in about 17 days, and sellers getting 99.9% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Novi?
The typical home in Novi, MI is worth $470,805 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $474,000, about $221 per square foot.
Is Novi cheaper than the rest of Michigan?
Novi's median sale price of $474,000 is 59% higher than the Michigan statewide median of $297,900, and 15% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Novi?
Homes in Novi, MI spent a median of 17 days on market before going under contract, versus 24 days statewide. Under three weeks means well-priced listings move before most buyers can schedule a second showing. (Redfin, through May 2026.)
What income do you need to buy a home in Novi?
At the current 30-year fixed rate of 7.03%, 20% down on a $470,805 home is about $2,513 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $107,718 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $110,938.
Are home prices rising in Novi?
The typical home value in Novi, MI rose 1.5% over the last 12 months, from $463,979 to $470,805 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Novi?
Novi ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Novi?
That depends on your timeline, not on a headline. What the data says today: Novi, MI is a seller's market with 2.0 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 20.3x means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Properties Incorporated publishes the data; it does not give financial advice.
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