Photo: Dwight Burdette · CC BY 3.0659 homes sold in Novi in the last year, at a typical $462K
Houses and condos split the market almost evenly. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Novi homes are listed.
Every place Novi homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Novi.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
44% of Novi’s sales are condos, at $250K less than a house
370 houses and 289 condos sold in the year to May 2026. Houses sell faster and draw more bidding wars.
typical sale · 370 sold in 12 months
- Per square foot
- $227MI $172
- Days to sell
- 23
- Sold over asking
- 40%
- Listings with a price cut
- 31%
typical sale · 289 sold in 12 months
- Per square foot
- $213MI $190
- Days to sell
- 26
- Sold over asking
- 27%
- Listings with a price cut
- 25%
Fewer homes sell than a decade ago, at 1.8 times the 2016 price
659 sales in the last year, against 1,164 in 2015 and a low of 579 in 2023. The typical sale went from $263K in 2016 to $462K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $450K buys in Novi
Check a listing against what Novi homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Novi are more common than before the pandemic, but 44% fewer homes come up for sale
We read every month of Novi’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 659 sales.
If you’re buying in Novi
- Shop in August. It brings about 99 new listings a month, close to the busiest month, with fewer bidding wars (30% over asking).
- Less room to haggle. Only 28% of listings cut their price, against 32% before the pandemic.
- Bid near asking. Buyers paid 99.5% of the list price on average; 34% paid over.
- Move fast on good ones. Half of homes are under contract within two weeks.
Spring brings both the most homes and the most bidding wars
May has the most new listings (about 119 a month), and the most competition: 43% close over asking. August offers nearly as much choice with fewer homes bid up (30%). January has the least competition (18%) but only about 59 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like Michigan as a whole
| Novi now | 2017–19 | 2021 peak | MI now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 34% | 24% | 54% | 31% |
| Gone within two weeksShare of homes under contract within 14 days | 50% | 46% | 62% | 43% |
| Listings with a price cutShare of homes for sale that cut their price | 28% | 32% | 22% | 28% |
| Price paid vs. askingAverage sale price ÷ list price | 99.5% | 98.3% | 101.5% | 98.4% |
| Days to sellMedian days from listing to contract | 23 | 21 | 14 | 33 |
98 homes for sale on a typical day
That’s 1.6 times the 2023 low (62), 44% fewer than in 2017–19 and well under 2015’s 335.
1 in 4 listings has cut its price
28% in the last year, against 32% in 2017–19 and 28% across Michigan.
Since 2019, houses are up 42%, condos 63%
A house typically sold for $570K in the last year (370 sales), a condo for $320K (289).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Novi ranks 90th of 194 busy Michigan markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Novi is in the middle of the pack.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Novi home costs about $2,937 a month
Price: Novi’s typical sale, last 12 months. Property tax at Novi’s 1.4% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Novi is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in May
The month with the most choice. December has the fewest, about 39.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $462K home, about $6,320 a year.
Taxes vs. neighborsSchools
The schools grade for Novi, from test results, graduation and how much students grow.
Schools in NoviCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Wixom, Walled Lake, Farmington and Farmington Hills sell for less a square foot
The busier markets within 25 miles of Novi, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Farmington Hills | 861 | $374K | $181 | 40% | 23 |
| Novi | 659 | $462K | $220 | 34% | 23 |
| Wixom | 140 | $381K | $211 | 32% | 31 |
| Farmington | 132 | $326K | $184 | 37% | 22 |
| Northville Township | 113 | $482K | $240 | 27% | 23 |
| Walled Lake | 106 | $248K | $189 | 27% | 28 |
| Wolverine Lake | 59 | $379K | $220 | 54% | 33 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Novi, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Novi. People who follow the town see it, and so do people comparing Novi with their own town. No commission, no listing fee.
Questions about buying a home in Novi
What do homes sell for in Novi, MI?
659 homes sold in the year to May 2026 at a typical $462K, $220 a square foot. Houses sold for about $570K, condos for about $320K.
Is Novi a buyer’s or seller’s market?
A seller’s market: 105 homes were for sale in May 2026 and 52 sold, about 2 months of supply. Buyers paid 99.5% of asking on average, and 28% of listings cut their price.
When is the best time to buy in Novi?
May brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Novi?
About 1.4% of a home’s value a year. On a $462K home that’s near $6,320.
Where can I see homes for sale in Novi?
Zillow, Redfin, Realtor.com and Homes.com all carry Novi’s MLS listings; the search links above open each one filtered to Novi.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).