Is South Lyon, MI 48178 a buyer’s or seller’s market?

The South Lyon housing market right now

In the three months ending August 31, 2026, 36% of homes in South Lyon, MI 48178 sold above their list price, the typical home went under contract in 26 days and there were 2.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 182 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 41%, homes sold more slowly (18 days then) and the median sale price rose 3% to $574,751. Overall, South Lyon is less competitive than a year ago, which gives buyers more room.

Within Oakland County, homes here sell more slowly than in 82% of the county’s ZIP codes, and sell less often over asking than in 66%. On our competition score, South Lyon ranks #207 of 510 MI ZIP codes with enough sales (score 70 out of 100).

Nearby, buyers who want less competition could look at Oxford 48370 (0% sold over asking) or Southfield 48034 (16% sold over asking), while Huntington Woods 48070 (74% sold over asking) and Pleasant Ridge 48069 (54% sold over asking) are even more competitive.