Novi, MI Housing Market

$462,688

2.8% 1-yr

The average Novi, MI home value is $462,688, up 2.8% over the past year and goes to pending in around 6 days.

What is the Zillow Home Values Index?

Zillow Home Value Index (ZHVI), built from the ground up by measuring monthly changes in property level Zestimates, captures both the level and home values across a wide variety of geographies and housing types.

Learn more about the Zillow Home Value Index

Novi Key Takeaways

Typical Home Values: $462,688

1-year Value Change: +2.8%

(Data through April 30, 2025)

Novi Housing Market Overview

--1-year Market Forecast

76For sale inventory(April 30, 2025)

43New listings(April 30, 2025)

1.002Median sale to list ratio(March 31, 2025)

$367,400Median sale price(March 31, 2025)

$450,217Median list price(April 30, 2025)

45.1%Percent of sales over list price(March 31, 2025)

40.8%Percent of sales under list price(March 31, 2025)

6Median days to pending(April 30, 2025)

(Metric availability is based on market coverage and data)

How does this data help me?
Zillow's metrics provide valuable market data by tracking market changes in different locations and housing types.

Neighborhoods in Novi

NameMedian ZHVI
Willow Woods$493,380
Woodbury Park$493,932
Coventry Gardens$343,279
SMB Estates$340,438
Chesterfield$147,610
Rogers Park$154,624
Western Heights$255,798
Five Points$87,558
The Eye$91,871

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Novi Homes for Sale

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Novi Rental Market Trends

$1,589Average rent in Novi(April 30, 2025)

$2,024National average rent(April 30, 2025)

-0.5%Month-over-month change(April 30, 2025)

1.6%Year-over-year change(April 30, 2025)

How does this data help me?
The Zillow Observed Rent Index (ZORI) measures changes in asking rents over time, controlling for changes in the quality of the available rental inventory.