Market Intelligence · MI / Novi

Novi, MI 48374 Housing Market

The typical home in Novi's 48374 ZIP code is worth $673,283, up 3.8% over the past year as of September 2026. Sellers are listing at a median of $729,975, and homes are spending a median of 42 days on the market.

Updated September 2026Median value$673K

The median home value in Novi, MI 48374 is $673K as of September 2026, up 3.8% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 48374 range

$619K to $727K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+3.8% over 12 months

Sep 2025$649K

Low $649KHigh $673K

Sep 2026$673K

The numbers

What is the 48374 housing market like?

As of September 2026

Typical home value

$673K

3.8%YoY

Median list price

$730K

8.1%MoM

Days on market

40.0%MoM

Homes for sale

7.1%MoM

Price cuts

18.0%

46.7%MoM

New listings

12.5%MoM

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

The outlook

48374 housing market forecast 2027

+1.4%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 48374 to rise 1.4% by September 2027.

Over the 12 months through September 2026, typical home values in 48374 rose 3.8%, per the Zillow Home Value Index.

Will home prices drop in 48374?

Zillow's forecast does not call for a drop: it expects typical home values in 48374 to rise 1.4% by September 2027, after a 3.8% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 48374 home prices compare?

48374$673,283
Novi$398,976
Michigan$241,156
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Novi: 3 ZIPs; Michigan: 891 ZIPs; United States: 26,262 ZIPs).

Context

As of September 2026, Novi's 48374 ZIP had 26 homes for sale, with 14 new listings coming on that month. The median list price sat at $729,975, above the typical home value of $673,283, which itself rose 3.8% over the past year. Homes took a median of 42 days to go under contract, and 18.0% of active listings had taken a price cut. Values are still climbing, but homes are not flying off the shelf, and a meaningful share of sellers have had to trim their asking price. For a seller, that means pricing realistically from day one matters more than testing the top of the market.

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Down payment20% · $134,657

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Common questions

What people ask us.

How much is a home in 48374 worth?

The typical home in Novi's 48374 ZIP code is worth $673,283 as of September 2026, up 3.8% over the past year.

How long do homes take to sell in 48374?

Homes spent a median of 42 days on the market as of September 2026.

Are sellers in 48374 cutting prices?

As of September 2026, 18.0% of active listings had a price cut, while the median list price stood at $729,975.

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