Page 10 - Housing Report - January 2025

JAN 2025
SEMI HOUSING REPORT

Novi

Single-Family Homes
MONTHLY Closed Sales

24
DEC NEW LISTINGS YOY Sales Monthly Sales and Avg $/SF YOY $/SF
-4% from last month Oct +38% Dec +14%
20 70 Nov +76% $350
Dec -15%
NEW PENDINGS 60 $300
-20% from last month
50 $250
23 40 $200
CLOSED SALES 30 $150
-23% from last month
20 $100
$250 10 $50
PRICE PER SQ FT
+6% from last month 0 $-
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$600K Sales '22 Sales '23 Sales '24
AVG SALE PRICE
+17% from last month $/SF '22 $/SF '23 $/SF '24

All Price Ranges

Oct '24 Nov '24 Dec '24 YTD
'23 '24 (+/-)
Listings Taken 42 25 24 442 509 15%
New Pendings 29 25 20 324 377 16%
Closed Sales 36 30 23 308 374 21%
Price/SF $257 $236 $250 $228 $265 16%
Avg Price $737,043 $512,078 $599,670 $604,942 $714,834 18%
<$350k

Oct '24 Nov '24 Dec '24 YTD
'23 '24 (+/-)
Listings Taken 4 4 5 40 64 60%
New Pendings 8 2 2 36 42 17%
Closed Sales 3 6 4 32 37 16%
Price/SF $221 $228 $198 $194 $192 -1%
$350k-$750k
Oct '24 Nov '24 Dec '24 YTD
'23 '24 (+/-)
Listings Taken 27 20 9 262 291 11%
New Pendings 16 19 16 216 234 8%
Closed Sales 23 21 14 216 214 -1%
Price/SF $232 $232 $234 $217 $235 8%
>$750k
YTD
Oct '24 Nov '24 Dec '24
'23 '24 (+/-)
Listings Taken 11 1 10 140 154 10%
New Pendings 5 4 2 72 101 40%
Closed Sales 10 3 5 60 123 105%
Price/SF $296 $256 $292 $261 $305 17%
Data source: Realcomp MLS using Great Lakes Repository Data.

Copyright 2025, Real Estate One