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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northville Township is a seller's market

Buyer's
Market

Difference Since May 2021

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

Key Takeaway

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

How much do homes in Northville Township, MI cost?

Median Sold Price

$428,750

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$8,875(+2.1%)

Key Takeaway

Homes in Northville Township have sold for 2.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $125K$138K
+10.4%
2 $195K$220K
+12.8%
3 $321K$390K
+21.5%
4 $540K$565K
+4.6%
5+ $745K$821.5K
+10.3%

Median Sold Price Compared To Nearby Cities

Northville
+33.3%
Plymouth Charter Township
+26.0%
Livonia
+12.7%
Novi
+10.7%
Northville Township
+2.1%

How many homes are available in Northville Township, MI?

Number of Homes For Sale

Apr 2022May 2022%
88107+21.6%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 03
+100.0%
2 3335
+6.1%
3 2318
-21.7%
4 2444
+83.3%
5+ 87
-12.5%

Number of Homes Sold

Apr 2022May 2022%
3035+16.7%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northville Township, you could pay more than the asking price. 74.3% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
18 Days8 Days-55.3%

Breakdown of Home Sale Times

33 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Northville Township 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 Township, MI

Northville Township, MI has 107 homes on the market. Between April 2022 and May 2022, Northville Township, MI real estate market has seen increase in the number of listings by 21.6%. In May 2022 median list price was $428,750 and the average listing age was 8 days. Listing prices have changed in this real estate market between April 2022 and May 2022: 1 bedroom properties became 10.4% more expensive, 2 bedrooms properties became 12.8% more expensive, 3 bedrooms properties prices increased by 21.5%, 4 bedrooms properties prices increased by 4.6%, prices of 5 bedrooms properties increased by 10.3%. This housing market inventory have changed: number of 1 bedroom homes increased by 100%, volume of 2 bedrooms homes went up by 6.1%, 3 bedrooms homes inventory decreased by 21.7%, number of 4 bedrooms homes increased by 83.3%, the quantity of 5 bedrooms homes went down by 12.5%. While more than 26 listings in Northville Township, MI in May 2022 were sold above asking price, there were more than 5 listings sold at asking price, and more than 4 were sold below.

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