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Multi-family Foreclosures in Novi, MI 48377

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Novi, MI Foreclosures

How much do homes sell for in Novi, MI?
The average home price is currently $523,715.
What’s the average rental cost in Novi, MI?
The average rental price in Novi is $2,259.
What is the most expensive home in Novi?
The most expensive home sold in Novi had a price of $7,495,792.
What is currently the cheapest priced home in Novi, MI?
The cheapest home for sale in Novi is priced at $30,785.

Living in Novi, MI

Novi, MI, is a thriving suburb known for its exceptional amenities, excellent schools, and diverse community. With a mix of shopping, dining, and outdoor activities, it offers an appealing lifestyle for families and professionals. Its strategic location provides easy access to major highways and the bustling Detroit metropolitan area.

Current Market Conditions in Novi, MI

The real estate market in Novi has shown consistent growth, with an increase in home prices due to high demand and limited inventory. The city's appeal to families and professionals continues to drive interest, leading to competitive bidding situations for desirable homes.

Current market trends indicate a shift towards the construction of new homes and developments, catering to the influx of residents drawn to the city's amenities and well-regarded school district.

Home Value Estimator For Novi, MI

There are currently 15,716 real estate properties in Novi, MI, with a median automated valuation model (AVM) price of $491,773.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Novi, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Novi, MI, is $523,715.00, with the most expensive house in Novi, MI, topping out at $7,495,792.00 and the cheapest home in Novi, MI, clocking in at $30,785.00. In other words, there’s something for every potential homebuyer or savvy investor in Novi, MI!

Rent Prices In Novi, MI

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Novi, MI, is on a rollercoaster ride. The average rent price in Novi, MI, is $2,259.00. Indeed, when looking to rent in Novi, MI, you can expect to pay as little as $840.00 or as much as $4,300.00, with the average rent median estimated to be $2,220.00. The good news is that finding an affordable and desirable property to rent in Novi, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Novi, MI 48377 Multi-family Homes

Market Trend for Novi, MI

Total Listings Available: 0

Market Values:

Home Prices from $30,785 to $7,495,792

Average Sales Price: $523,715

Rental Values:

Rental from $840 to $4,300

Average Rent Value: $2,259 / month

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