Is Northville, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Northville has remained a Seller's Market.
Housing Prices in Northville, MI
How much do homes in Northville, MI cost?
Median Sold Price
$499,500
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Northville was $499,500 in March 2024, down 0.6% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $126.2K | $156.2K | +23.8% |
2 Bedrooms | $268K | $287.7K | +7.4% |
3 Bedrooms | $446.9K | $450K | +0.7% |
4 Bedrooms | $659K | $645K | -2.1% |
5+ Bedrooms | $925K | $925K | 0.0% |
Summary: Northville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.8%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 0.7%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Northville | $502.6K | $499.5K | -0.6% |
Novi | $435.2K | $432.1K | -0.7% |
Northville Township | $503.1K | $495.2K | -1.6% |
Housing Supply in Northville, MI
How many homes are available in Northville, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
105 | 119 | +13.3% |
Summary: The Northville real estate market had 119 homes for sale in March 2024, a 13.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 35 | 34 | -2.9% |
3 Bedrooms | 38 | 37 | -2.6% |
4 Bedrooms | 19 | 28 | +47.4% |
5+ Bedrooms | 11 | 17 | +54.5% |
Summary: The Northville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 47.4%, and 5+ bedroom homes increased by 54.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
30 | 34 | +13.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in Northville in March 2024, up by 13.3% month-over-month. Of the 34 sold homes, 50% were sold under asking, 15% were sold at asking, and 35% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 33 Days | -21.0% |
Summary: Homes in Northville had an average of 33 days on market in Mar 2024, down by 21% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 34 homes were sold in Northville; 68% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.