$8,193 Closing Credit*
$689,900
3,074 SqFt
4 Beds
•2 Full Baths, 1 Partial
Evelyn Eberline, Listing Office: KW Realty Livingston
Is Northville, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Northville has remained a Seller's Market.
Key Takeaway
Northville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northville, MI
How much do homes in Northville, MI cost?
Median Sold Price
$548,857
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$21,035(+4.0%)
Key Takeaway
Homes in Northville have sold for 4% more than they did a year ago.
Summary: The median home sold price in Northville was $548,857 in October 2024, up 4% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $159.5K | +10.0% |
| 2 Bedrooms | $310K | $290K | -6.5% |
| 3 Bedrooms | $450K | $469.7K | +4.4% |
| 4 Bedrooms | $675K | $752.5K | +11.5% |
| 5+ Bedrooms | $920K | $1.2M | +30.4% |
Summary: Northville housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes decreased by 6.5%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 30.4%.
Median Sold Price Compared To Nearby Cities
| Novi | $427.5K | $468.8K | +9.7% |
| Northville | $527.8K | $548.8K | +4.0% |
| Northville Township | $523.6K | $542.8K | +3.7% |
Housing Supply in Northville, MI
How many homes are available in Northville, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 165 | 157 | -4.8% |
Summary: The Northville real estate market had 157 homes for sale in October 2024, a 4.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 32 | 31 | -3.1% |
| 3 Bedrooms | 45 | 37 | -17.8% |
| 4 Bedrooms | 63 | 67 | +6.3% |
| 5+ Bedrooms | 25 | 22 | -12.0% |
Summary: The Northville housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 3.1%, 3 bedroom homes decreased by 17.8%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 12%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 52 | 42 | -19.2% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northville, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 42 homes were sold or pending in Northville in October 2024, down by 19.2% month-over-month. Of the 42 sold homes, 50% were sold under asking, 21% were sold at asking, and 29% were sold over asking.
Days on Market for Northville, MI
How long does it take to sell a home in Northville, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 27 Days | +51.5% |
Summary: Homes in Northville had an average of 27 days on market in Oct 2024, up by 51.5% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northville are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 42 homes were sold in Northville; 64% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
