Is Novi, MI 48374 a buyer’s or seller’s market?

The Novi housing market right now

In the three months ending August 31, 2026, 49% of homes in Novi, MI 48374 sold above their list price, the typical home went under contract in 13 days and there were 1.4 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 67 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 41%, homes sold faster (15 days then) and the median sale price rose 5% to $739,680. Overall, Novi is more competitive than a year ago, so tougher for buyers.

Within Oakland County, homes here sell faster than in 94% of the county’s ZIP codes, and sell more often over asking than in 93%. On our competition score, Novi ranks #25 of 510 MI ZIP codes with enough sales (score 88 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.