The Novi housing market is very competitive. The median sale price of a home in Novi was $401K last month, up 17.1% since last year. The median sale price per square foot in Novi is $226, up 3.2% since last year.
In January 2025, Novi home prices were up 17.1% compared to last year, selling for a median price of $401K. On average, homes in Novi sell after 36 days on the market compared to 14 days last year. There were 46 homes sold in January this year, up from 30 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$400,505
+17.1% YoY | Jan 2025
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Jan 2025
Growth
% YoY
Novi, MI
$400,505
+17.1%
United States
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How hot is the Novi housing market?
Novi is very competitive. Homes sell in 29 days.
0
100
76
Very Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Many homes get multiple offers, some with waived contingencies.
The average homes sell for about 1% below list price and go pending in around 29 days.
Hot homes
can sell for about 1% above list price and go pending in around 11 days.
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two
million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user
must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Novi housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Novi.
Flood Factor - Minor
8% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Novi has a minor risk of flooding. 467 properties in Novi are likely to be
severely affected
by flooding over the next 30 years. This represents 8% of all properties in Novi. Flood risk is increasing slower than the national average.
10% of properties are at risk of wildfire over the next 30 years
Fire Factor
Novi has a moderate risk of wildfire. There are 1,653 properties in Novi that have some risk of being affected by wildfire over the next 30 years. This represents 10% of all properties in Novi.
100% of properties are at minor
risk of a severe wind event over the next 30 years
Wind Factor
Novi has a Minor Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Novi is most at risk from severe storms. 15,130 properties in Novi have some risk of being in a severe wind event within the next 30 years.