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Featured local agent — South Lyon, MI
Sarah Mitchell
Compass Real Estate · South Lyon, MI
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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South Lyon, MI Housing Market & Real Estate
Housing market overview · Updated monthly ·
$238,450median sale price
How is the South Lyon, MI housing market right now?
The median home sale price in South Lyon, MI is $238,450, down 14.8% year-over-year. Homes sell in an average of 18 days with 61 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is South Lyon a buyer's or seller's market?
South Lyon, MI is currently a balanced market, based on 3.8 months of supply and homes selling in about 18 days. How we determine this →
Homes sold
16
Last 12 weeks
Days on market
18
Fast-moving
Active listings
61
3.8 months supply
Sale-to-list
99.8%
Below asking
What does the South Lyon housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $238,450 |
| Median list price | $379,950 |
| Year-over-year price change | -14.8% |
| Average days on market | 18 days |
| Active inventory | 61 listings |
| Months of supply | 3.8 months |
| Sale-to-list price ratio | 99.8% |
| Median price per sq ft | $160/sq ft |
| Homes sold (latest month) | 16 |
| New listings (latest month) | 24 |
| Listings with a price cut | 50.8% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in South Lyon by property type?
How the South Lyon, MI market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $435,600 | $194/sq ft | 7 | 8 days |
| Condo / Co-op | $185,500 | $141/sq ft | 9 | 36 days |
Source: Redfin · Updated monthly
The South Lyon housing market is currently classified as a balanced market with a median sale price of $238,450. Prices have fallen 14.8% compared to last year, with homes spending an average of 18 days on market, indicating 3.8 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 5.7x provides context for how home values compare to local earning capacity.
Homes for sale in South Lyon
There are currently 61 homes listed for sale in South Lyon, Michigan. The median listing price is $380K.
Active listings
61
Homes on market
Median list price
$380K
Avg. days on market
18
Days until sale
New this week
24
Newly listed
Who lives in South Lyon?
Population
11,825
Median income
$83,822/yr
Median age
41.8 years
Owner-occupied
79.6%
College grads
45.0%
Avg commute
30.7 min
Source: U.S. Census Bureau ACS
What are homes worth in South Lyon?
Zillow home value
$480,620
Price-to-income
5.7x
Source: Zillow Research
What is it like to live in South Lyon?
South Lyon is a community of approximately 12K residents with a median age of 41.8 years.The median household income is $83,822, which reflects a relatively affluent area with strong earning potential. 45.0% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 79.6%, reflecting strong community stability and long-term resident commitment. The average commute time is 30.7 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, South Lyon offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve South Lyon?
11 schools tracked · 7,463 students
The largest public schools serving South Lyon, 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.
South Lyon High School
Grades 9-12 · 1,253 students
South Lyon East High School
Grades 9-12 · 1,181 students
Millennium Middle School
Grades 6-8 · 1,043 students
Centennial Middle School
Grades 6-8 · 899 students
Sharon J Hardy Elementary School
Grades K-5 · 580 students
William A Pearson Elementary
Grades K-5 · 553 students
Kent Lake Elementary School
Grades K-5 · 524 students
Frank E Bartlett School
Grades PK-5 · 480 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 South Lyon, MI?
Want a head-to-head view? Compare South Lyon side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in South Lyon?
The median home sale price in South Lyon is $238,450, down 14.8% from last year.
How long do homes stay on market in South Lyon?
Homes typically spend 18 days on market before going under contract.
What is the median income in South Lyon?
The median household income is $83,822 per year.
Is South Lyon a buyer's or seller's market?
With 3.8 months of supply, South Lyon is currently a balanced market.
What is the Zillow home value estimate for South Lyon?
The Zillow Home Value Index (ZHVI) for South Lyon is $480,620, representing the typical home value in the area.
What is the median condo price in South Lyon?
The median condo/co-op sale price in South Lyon, MI is $185,500, compared to $435,600 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in South Lyon?
The median single-family home price in South Lyon, MI is $435,600 (about $194 per square foot).
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