Home ValuePros

Market Intelligence · MI / Oakland County

Novi, MI home prices and housing market

3 ZIP markets liveData updated September 2026Typical value$399K1-yr changeUp2.8%

The typical home value in Novi, MI is $399K as of September 2026, up 2.8% from a year ago, based on the Zillow Home Value Index. In the typical Novi ZIP code, the median list price is $412K and homes spend a median of 35 days on market as of September 2026 (Realtor.com).

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The coverage

Novi, by the numbers.

Typical home valueZillow ZHVI, September 2026
$399K
1-yr changeMedian across Novi ZIPs
+2.8%
ZIP markets live4 tracked in Novi
3
County
Oakland County

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12-month value trend

+2.8% over 12 months

Typical home value in Novi over the last 12 months: $388K in Sep 2025 to $399K in Sep 2026 (+2.8%).

Sep 2025$388K

Sep 2026$399K

Median Zillow home value index across Novi's ZIP codes.

Context

The typical home value in Novi is $398,976, up 2.8% over the past year as of September 2026. The median list price sits at $412,200, a bit above that typical value. There were 108 homes for sale, with 62 new listings coming on in September 2026. Homes are moving at a moderate pace, with a median of 35 days on market. About 23.3% of listings had a price cut, which suggests some sellers are testing the high end and adjusting. For a homeowner weighing a sale, Novi looks steady rather than hot, so realistic pricing from day one matters.

The numbers

What is the housing market like in Novi, MI?

Typical home value

$399K

Up2.8%YoY

Median list price

$412K

Days on market

35

Homes for sale

108

Price cuts

23.3%

New listings

62

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026)

Figures reflect Novi's ZIP codes with market data: values and listing medians take the median across ZIPs; inventory and new listings are summed.

Prices over time

Novi, MI home prices over time

Typical home values in Novi, MI are up 2.8% over the past year, from $388K in September 2025 to $399K in September 2026.

Typical home value in Novi, MI, September of each year
MonthTypical value1-yr change
September 2026$398,976+2.8%
September 2025$388,293No prior year

Typical value is the median Zillow Home Value Index across Novi ZIP codes, taken in September of each year so every row compares the same month.

Market balance

Is Novi, MI a buyer's or seller's market?

Novi, MI is roughly balanced between buyers and sellers.

These measures sit between the ranges that usually favor one side, so pricing and condition matter more than market direction.

Based on a median of 35 days on market and 23% of listings with a price cut in the typical Novi ZIP code, and 62 new listings against 108 active listings across Novi, as of September 2026 (Realtor.com).

The outlook

Novi housing market forecast 2027

+1.3%

Weighted average of Zillow's ZIP forecasts, 12 months to September 2027

A weighted average of Zillow's ZIP forecasts, across 3 Novi ZIP codes, points to typical home values rising 1.3% by September 2027.

Over the 12 months through September 2026, typical home values in Novi rose 2.8%, per the Zillow Home Value Index.

Will home prices drop in Novi?

The forecasts do not call for a drop: a weighted average of Zillow's ZIP forecasts for Novi shows typical home values rising 1.3% by September 2027, after a 2.8% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

How this is calculated: each ZIP code's 12-month Zillow forecast is weighted by its typical home value (Zillow Home Value Index, September 2026). 3 Novi ZIP codes have both figures.

Forecast: a weighted average of Zillow's ZIP forecasts (Zillow Home Value Forecast, published October 2026), calculated by Home Value Pros. A forecast, not a guarantee.

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Live markets

What ZIP codes are live in Novi?

Typical value is the Zillow home value index (ZHVI) for each ZIP, as of September 2026. 1-yr change compares it to the same ZIP a year earlier. We track 4 Novi ZIP codes in total; the remaining 1 publish as their data clears editorial QA.

Zillow ZHVI, September 2026

Local pros

Who are the top real estate agents in Novi?

Top real estate agents in Novi, MI

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Common questions

Questions about Novi, MI home prices.

How much is a home in Novi worth?

The typical home value in Novi is $398,976, up 2.8% over the past year as of September 2026. This is a citywide figure, so an individual home may be worth more or less.

How fast are homes selling in Novi?

Homes in Novi spent a median of 35 days on market as of September 2026. That points to a market that is active but not rushed.

Are sellers in Novi cutting prices?

Yes, 23.3% of listings in Novi had a price cut as of September 2026. With a median list price of $412,200, pricing accurately at listing can help avoid a reduction.

Are home prices going up or down in Novi, MI?

Typical home values in Novi, MI are up 2.8% over the past year, based on the Zillow Home Value Index as of September 2026.

Is Novi, MI a buyer's or seller's market?

Novi, MI is roughly balanced between buyers and sellers. These measures sit between the ranges that usually favor one side, so pricing and condition matter more than market direction. Based on a median of 35 days on market and 23% of listings with a price cut in the typical Novi ZIP code, and 62 new listings against 108 active listings across Novi, as of September 2026 (Realtor.com).

How long do homes take to sell in Novi, MI?

In the typical Novi ZIP code, homes spend a median of 35 days on market as of September 2026, based on Realtor.com listing data. Pricing and condition decide how fast any one home sells, so treat the median as a benchmark rather than a promise.

Nearby markets

More Michigan housing markets.

The market is moving

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