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NOVI, MI 48374

Real Estate Market Report
Balanced Market
February 2026  ·  Source: Realtor.com

Market Analysis

Data as of February 2026. Source: Realtor.com.

The NOVI, MI real estate market (48374) currently shows 19 active listings, with 6 pending sales. Homes are averaging 40 days on the market before going under contract.

Inventory has increased compared to last year, with 1 more homes available — giving buyers more choice.

Homes are selling faster, averaging 40 days on market compared to 42 days last year.

The median listing price has fallen 10.9% year-over-year, from $784,900 to $699,250.

Whether you are buying or selling in NOVI, MI, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 18,125  ·  Density: 771.3/mi²  ·  Median household income: $179,940

Typical home value: $534,616  ·  Homeownership: 89.8%

Market Overview

Active Listings
19
⇧ 5.6% vs 18 last year
Pending
6
32% pending ratio
Median Price
$699,250
⇩ 10.9% vs $784,900 last year
Average Price
$832,805
⇩ 25.1% vs $1,112,404 last year
Days on Market
40
⇩ 4.8% vs 42 days last year

Price Per Square Foot

Median $/sqft
$260
⇩ 11.6% vs $294/sqft last year
Median Home Size
2,578 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 19 this year vs 18 last year
  • Days on market: 40 now vs 42 last year

Median & Average Pricing

Year over Year
  • Median: $699,250 (-10.9% YoY)
  • Average: $832,805 (-25.1% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 11.7 miles — 744 listings ($378,519,177 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
48374Novi, MI 483740.0 mi15$13,514,100$749,500$900,940
48375Novi, MI 483753.1 mi43$17,711,743$425,000$411,901
48393Wixom, MI 483933.7 mi30$12,480,900$365,000$416,030
48165New Hudson, MI 481655.1 mi43$20,674,916$574,990$480,812
48335Farmington, MI 483356.2 mi28$10,743,124$344,900$383,683
48170Plymouth, MI 481707.1 mi86$61,700,700$535,000$717,450
48178South Lyon, MI 481787.4 mi126$69,810,174$469,990$554,049
48382Commerce Township, MI 483828.3 mi74$50,806,328$639,900$686,572
48336Farmington, MI 483369.0 mi83$28,172,939$267,450$339,433
48154Livonia, MI 481549.2 mi48$16,860,288$349,900$351,256
48323West Bloomfield, MI 4832310.2 mi49$44,549,967$640,000$909,183
48150Livonia, MI 4815010.5 mi46$13,643,600$287,000$296,600
48185Westland, MI 4818511.7 mi73$17,850,398$239,900$244,526

Frequently Asked Questions

How many homes are for sale in NOVI, MI 48374?

As of February 2026, there are 19 active listings in NOVI, MI (zip code 48374), compared to 18 the prior year.

What is the median home price in NOVI, MI 48374?

The median listing price in NOVI, MI 48374 is $699,250 as of February 2026, a 10.9% decrease from $784,900 the prior year.

How long do homes stay on the market in NOVI, MI?

Homes in NOVI, MI 48374 spend an average of 40 days on the market before going under contract, compared to 42 days the prior year.

Is it a seller's or buyer's market in NOVI, MI 48374?

Based on current inventory and days-on-market data as of February 2026, NOVI, MI 48374 is currently a Balanced Market. Inventory has increased compared to last year, with 1 more homes available — giving buyers more choice. Homes are selling faster, averaging 40 days on market compared to 42 days last year.

How much can I save on real estate commission in NOVI, MI?

With SELL123.com's maximum 3% commission, sellers in NOVI, MI 48374 save an estimated $13,985 compared to a typical 5% commission on the median listing price of $699,250. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.