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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northville is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Northville has remained a Seller's Market.

Key Takeaway

Northville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Northville, MI

How much do homes in Northville, MI cost?

Median Sold Price

$576,333

$189/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$48,083(+9.1%)

Key Takeaway

Homes in Northville have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in Northville was $576,333 in November 2024, up 9.1% from last year, and the median price per square foot was $189.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $145K$159.5K
+10.0%
2 $300K$295K
-1.7%
3 $457.5K$472.5K
+3.3%
4 $688K$758K
+10.2%
5+ $925K$1.2M
+29.7%

Summary: Northville housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 29.7%.

Median Sold Price Compared To Nearby Cities

Novi
+11.5%
Northville
+9.1%
Northville Township
+7.9%

Housing Supply in Northville, MI

How many homes are available in Northville, MI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
151129-14.6%

Summary: The Northville real estate market had 129 homes for sale in November 2024, a 14.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 2823
-17.9%
3 3838
0.0%
4 6456
-12.5%
5+ 2112
-42.9%

Summary: The Northville housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 17.9%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 42.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4839-18.8%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northville, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.

Summary: A total of 39 homes were sold or pending in Northville in November 2024, down by 18.8% month-over-month. Of the 39 sold homes, 62% were sold under asking, 21% were sold at asking, and 18% were sold over asking.

Days on Market for Northville, MI

How long does it take to sell a home in Northville, MI?

Average Sale Time

Nov 2023Nov 2024CHANGE
26 Days37 Days+41.5%

Summary: Homes in Northville had an average of 37 days on market in Nov 2024, up by 41.5% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

4 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.

Summary: During November 2024, 39 homes were sold in Northville; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

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

Report Updated 12 Days Ago

Newest Listings in Northville, MI

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