$8,906 Closing Credit*
$750,000
3,810 SqFt
3 Beds
•3 Full Baths, 1 Partial
Jeff Duneske, Listing Office: Keller Williams Advantage
Is Novi Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Novi Township has remained a Seller's Market.
Key Takeaway
Novi Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Novi Township, MI
How much do homes in Novi Township, MI cost?
Median Sold Price
$466,683
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$39,183(+9.2%)
Key Takeaway
Homes in Novi Township have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in Novi Township was $466,683 in November 2024, up 9.2% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $137.5K | -23.6% |
| 2 Bedrooms | $233K | $234.9K | +0.8% |
| 3 Bedrooms | $375K | $396K | +5.6% |
| 4 Bedrooms | $600K | $642.5K | +7.1% |
| 5+ Bedrooms | $700K | $816K | +16.6% |
Summary: Novi Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.6%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 16.6%.
Median Sold Price Compared To Nearby Cities
| Novi | $426K | $475K | +11.5% |
| Novi Township | $427.5K | $466.6K | +9.2% |
Housing Supply in Novi Township, MI
How many homes are available in Novi Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 143 | 124 | -13.3% |
Summary: The Novi Township real estate market had 124 homes for sale in November 2024, a 13.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 34 | 34 | 0.0% |
| 3 Bedrooms | 59 | 52 | -11.9% |
| 4 Bedrooms | 43 | 33 | -23.3% |
| 5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The Novi Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.9%, 4 bedroom homes decreased by 23.3%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 52 | 34 | -34.6% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Novi Township, you may be able to get a good deal. 58.8% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in Novi Township in November 2024, down by 34.6% month-over-month. Of the 34 sold homes, 59% were sold under asking, 15% were sold at asking, and 26% were sold over asking.
Days on Market for Novi Township, MI
How long does it take to sell a home in Novi Township, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 18 Days | 29 Days | +59.3% |
Summary: Homes in Novi Township had an average of 29 days on market in Nov 2024, up by 59.3% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Novi Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 34 homes were sold in Novi Township; 65% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.