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Novi, MI Real Estate & Property Data

Novi Real Estate Market Trends

Last Updated: April 22, 2025

Accurate and comprehensive real estate data is critical for insight into Novi, MI. ATTOM’s Novi real estate data is updated daily, and current market trends show that in Novi, MI a total of 651 residential properties have sold over the past year. With a median home price of $542,500 in Novi and a total of 7 foreclosures. Get detailed property data for Novi, MI instantly. ATTOM is your one-stop-shop for the Novi property reports and real estate data you need in Novi, MI.

Novi Real Estate Market Trends

Get property data for any address in Novi, MI or the country:

Total Residential Properties 17,732

Total Commercial Properties 867

Avg. Home Age (Single Family Home) 41 Years

Avg. Square Feet (Single Family Home) 2,386

Total 2025 Residential Sales (year-to-date) 80

% of Homes Seriously Underwater (Q2 2025) 0.9%

Total 2024 Residential Sales 597

% of Equity Rich Homes (Q2 2025) 44.51%

Effective 2024 Property Tax 1.27%

Total Foreclosure Filings (year-to-date) 8

Novi, MI Real Estate Overview

There were 651 residential properties sold in the past year in Novi, MI. The median home value in Novi, MI is $470,363. There are a total of 17,732 residential properties in the Novi.

Median Sales Price i

$542,500

(Feb 2025)

+9.3%

year-over-year

y-o-y

February '25 Feb '25 $542,500
January '25 Jan '25 $410,000
December '24 Dec '24 $435,000
November '24 Nov '24 $420,000
October '24 Oct '24 $510,000
September '24 Sep '24 $531,750
August '24 Aug '24 $593,000
July '24 Jul '24 $499,000
June '24 Jun '24 $623,000
May '24 May '24 $475,000
April '24 Apr '24 $540,000
March '24 Mar '24 $628,500

Median Down Payment i

$105,000

(Feb 2025)

+200%

year-over-year

y-o-y

February '25 Feb '25 $105,000
January '25 Jan '25 $51,250
December '24 Dec '24 $101,000
November '24 Nov '24 $64,125
October '24 Oct '24 $114,125
September '24 Sep '24 $116,100
August '24 Aug '24 $131,750
July '24 Jul '24 $56,620
June '24 Jun '24 $122,100
May '24 May '24 $92,062
April '24 Apr '24 $74,000
March '24 Mar '24 $125,500

Number of Homes Sold i

38

(Feb 2025)

+22.6%

year-over-year

y-o-y

February '25 Feb '25 38
January '25 Jan '25 42
December '24 Dec '24 32
November '24 Nov '24 55
October '24 Oct '24 72
September '24 Sep '24 51
August '24 Aug '24 61
July '24 Jul '24 57
June '24 Jun '24 53
May '24 May '24 77
April '24 Apr '24 44
March '24 Mar '24 38

Number of Purchase Loans i

26

(Feb 2025)

+8.3%

year-over-year

y-o-y

February '25 Feb '25 26
January '25 Jan '25 37
December '24 Dec '24 31
November '24 Nov '24 47
October '24 Oct '24 53
September '24 Sep '24 46
August '24 Aug '24 53
July '24 Jul '24 43
June '24 Jun '24 41
May '24 May '24 57
April '24 Apr '24 37
March '24 Mar '24 30

Number of REFI Loans i

25

(Feb 2025)

+31.6%

year-over-year

y-o-y

February '25 Feb '25 25
January '25 Jan '25 28
December '24 Dec '24 28
November '24 Nov '24 35
October '24 Oct '24 44
September '24 Sep '24 24
August '24 Aug '24 27
July '24 Jul '24 24
June '24 Jun '24 11
May '24 May '24 14
April '24 Apr '24 24
March '24 Mar '24 15

Number of HELOC Loans i

20

(Feb 2025)

+122.2%

year-over-year

y-o-y

February '25 Feb '25 20
January '25 Jan '25 19
December '24 Dec '24 26
November '24 Nov '24 19
October '24 Oct '24 30
September '24 Sep '24 20
August '24 Aug '24 20
July '24 Jul '24 28
June '24 Jun '24 22
May '24 May '24 23
April '24 Apr '24 16
March '24 Mar '24 26

Novi, MI Real Estate Market Overview

Last 30 days

Zip

Median Est. Value
Zip

Median Est. Value
Zip

Median Est. Value

48374

$470,363 $197.13/sqft
48375

$401,884 $184.75/sqft
48377

$377,140 $171.33/sqft

Novi, MI Foreclosure Activity

There were a total of 7 Novi, MI properties with a foreclosure filing in February 2025.

Total Foreclosure Filings i

7

(Feb 2025)

February '25 Feb '25 7
January '25 Jan '25 1
December '24 Dec '24 N/A
November '24 Nov '24 6
October '24 Oct '24 4
September '24 Sep '24 4
August '24 Aug '24 2
July '24 Jul '24 3
June '24 Jun '24 2
May '24 May '24 3
April '24 Apr '24 N/A
March '24 Mar '24 2

Foreclosure Starts i

7

(Feb 2025)

February '25 Feb '25 7
January '25 Jan '25 1
December '24 Dec '24 N/A
November '24 Nov '24 6
October '24 Oct '24 4
September '24 Sep '24 4
August '24 Aug '24 2
July '24 Jul '24 3
June '24 Jun '24 2
May '24 May '24 3
April '24 Apr '24 N/A
March '24 Mar '24 2

Completed Foreclosures (REOs) i

February '25 Feb '25 N/A
January '25 Jan '25 N/A
December '24 Dec '24 N/A
November '24 Nov '24 N/A
October '24 Oct '24 2
September '24 Sep '24 N/A
August '24 Aug '24 N/A
July '24 Jul '24 N/A
June '24 Jun '24 N/A
May '24 May '24 N/A
April '24 Apr '24 1
March '24 Mar '24 N/A

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