Photo: Dwight Burdette · CC BY 3.0213 homes sold in South Lyon in the last year, at a typical $299K
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 South Lyon homes are listed.
Every place South Lyon 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 South Lyon.
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.
Half of South Lyon’s sales are condos, at $261K less than a house
105 houses and 117 condos sold in the year to May 2026. Houses sell faster and draw more bidding wars.
typical sale · 105 sold in the year to May 2026
- Per square foot
- $203MI $172
- Days to sell
- 22
- Sold over asking
- 50%
- Listings with a price cut
- 21%
typical sale · 117 sold in the year to May 2026
- Per square foot
- $157MI $190
- Days to sell
- 37
- Sold over asking
- 20%
- Listings with a price cut
- 32%
Fewer homes sell than before 2021, at 1.8 times the 2016 price
213 sales in the last year, against 318 in 2020 and a low of 197 in 2024. The typical sale went from $162K in 2016 to $299K.
Source: Redfin Data Center, MLS sales; from June 2026 each month is a 3-month rolling window, its counts divided by 3. Typical price and $/sq ft are the monthly medians, weighted by sales. Redfin stopped publishing towns’ figures by property type after May 2026, so houses and condos are shown for the year to then.
What $300K buys in South Lyon
Check a listing against what South Lyon 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 South Lyon are more common than before the pandemic, with about as many homes for sale
We read every month of South Lyon’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 September 2026, 213 sales.
If you’re buying in South Lyon
- Shop in August. It brings about 30 new listings a month, close to the busiest month, with fewer bidding wars (34% over asking).
- Bid near asking. Buyers paid 98.8% of the list price on average; 30% paid over.
- You’ll usually have time. Only 38% of homes go under contract within two weeks; the typical one takes 32 days.
Summer brings both the most homes and the most bidding wars
June has the most new listings (about 34 a month), and the most competition: 40% close over asking. July and August offer nearly as much choice with fewer homes bid up (38%). January has the least competition (15%) but only about 19 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like Michigan as a whole
| South Lyon now | 2017–19 | 2021 peak | MI now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 30% | 22% | 52% | 28% |
| Gone within two weeksShare of homes under contract within 14 days | 38% | 46% | 65% | 40% |
| Price paid vs. askingAverage sale price ÷ list price | 98.8% | 98.2% | 101.2% | 98.1% |
| Days to sellMedian days from listing to contract | 32 | 23 | 12 | 36 |
52 homes for sale on a typical day
That’s 2.6 times the 2021 low (20), about the 2017–19 level and well under 2014’s 82.
Since 2019, houses are up 37%, condos 24%
A house typically sold for $430K in the year to May 2026 (105 sales), a condo for $170K (117).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
South Lyon ranks 117th of 194 busy Michigan markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. South Lyon is in the middle of the pack.
Source: Redfin Data Center, city figures, January 2012 to September 2026 (MLS sales, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical South Lyon home costs about $1,902 a month
Price: South Lyon’s typical sale, last 12 months. Property tax at South Lyon’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 South Lyon is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in June
The month with the most choice. December has the fewest, about 10.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $299K home, about $4,100 a year.
Taxes vs. neighborsSchools
The schools grade for South Lyon, from test results, graduation and how much students grow.
Schools in South LyonTypical commute
The average one-way trip to work for people who live in South Lyon.
Work & commuteCheck 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.
No busy market nearby sells for less a square foot; Northville Township and Milford for far more
The busier markets within 25 miles of South Lyon, 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 | |
|---|---|---|---|---|---|
| Novi | 653 | $476K | $212 | 35% | 23 |
| South Lyon | 213 | $299K | $172 | 30% | 32 |
| Brighton | 170 | $348K | $212 | 30% | 32 |
| Milford | 147 | $383K | $219 | 34% | 24 |
| Wixom | 134 | $364K | $205 | 32% | 31 |
| Northville Township | 119 | $513K | $243 | 31% | 21 |
| Whitmore Lake | 87 | $364K | $206 | 30% | 28 |
Redfin Data Center, October 2025 to September 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to South Lyon, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to South Lyon. People who follow the town see it, and so do people comparing South Lyon with their own town. No commission, no listing fee.
Questions about buying a home in South Lyon
What do homes sell for in South Lyon, MI?
213 homes sold in the year to September 2026 at a typical $299K, $172 a square foot. Houses sold for about $430K, condos for about $170K in the year to May 2026.
Is South Lyon a buyer’s or seller’s market?
A seller’s market: 45 homes were for sale in September 2026 and 21 sold, about 2.1 months of supply. Buyers paid 98.8% of asking on average.
When is the best time to buy in South Lyon?
June brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in South Lyon?
About 1.4% of a home’s value a year. On a $299K home that’s near $4,100.
Where can I see homes for sale in South Lyon?
Zillow, Redfin, Realtor.com and Homes.com all carry South Lyon’s MLS listings; the search links above open each one filtered to South Lyon.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). 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).