Is Northville, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northville is a buyer's market

Buyer's
Market

Difference Since April 2021

At the same time last year, Northville was a Seller's Market.

Key Takeaway

Northville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Northville, MI cost?

Median Sold Price

$427,500

$223/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2021

+$21,000(+5.2%)

Key Takeaway

Homes in Northville have sold for 5.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSApr 2021Apr 2022%
1 $98K$100K
+2.0%
2 $218.9K$235K
+7.3%
3 $413.7K$399.9K
-3.3%
4 $537.5K$550K
+2.3%
5+ $660K$760K
+15.2%

Median Sold Price Compared To Nearby Cities

Novi
+14.8%
Northville
+5.2%
Northville Township
+4.0%

How many homes are available in Northville, MI?

Number of Homes For Sale

Mar 2022Apr 2022%
1524+60.0%

Homes For Sale By Bedroom Count

# BEDSMar 2022Apr 2022%
1 00
0.0%
2 55
0.0%
3 67
+16.7%
4 39
+200.0%
5+ 13
+200.0%

Number of Homes Sold

Mar 2022Apr 2022%
91-88.9%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northville, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Average Sale Time

Apr 2021Apr 2022%
9 Days6 Days-33.3%

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Northville are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Northville, MI

There are 24 homes are for sale in Northville, MI real estate market. In April 2022 in Northville, MI there were 60% more homes for sale than in March 2022. Listings spent 6 days on the market in April 2022, and had a median list price of $427,500 during the same period. Between March 2022 and April 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 2%, 2 bedrooms properties became 7.3% more expensive, 3 bedrooms properties prices decreased by 3.3%, 4 bedrooms properties prices increased by 2.3%, 5 bedrooms properties became 15.2% more expensive. The following changes in the number of homes for sale were observed in this housing market: number of 1 bedroom homes remained the same, volume of 2 bedrooms homes stayed the same, the quantity of 3 bedrooms homes went up by 16.7%, 4 bedrooms homes became 200% more available, the quantity of 5 bedrooms homes went up by 200%. In April 2022, from all listings sold in Northville, MI there were more than 1 sold above asking price, over 0 sold below and more than 0 were sold right at the asked price.

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