Novi Twp Real Estate
5 active listings · 270 sold in the past 12mo
$955,000
Median List Price
270
Sold (past 12mo)
55
Avg Days on Market
+20.3%
HFGⓘ
Household Formation Gap (HFG) is a secondary market indicator that measures hidden housing demand created by shrinking household sizes. As average household size decreases — due to divorce, single living, empty nesting, delayed marriage — more housing units are needed even without population growth. HFG compares the estimated number of households needed today versus 15 years ago: (population ÷ avg household size). This is a demographic trend signal, not a primary market indicator like income-based affordability or comparative market analysis. Source: U.S. Census Bureau, American Community Survey 5-Year Estimates (2009–2023), Tables B01003, B25010, B25001.
Active Listings
Loading map…
Market Dashboard
Homes for Sale(5)
View all with filters →
For Sale
1/99
$1,785,000
40600 8 Mile Road, Novi, MI 48167
7 bd7 ba8,200 sqft1.86 ac
Single Family
For Sale
1/7
$1,649,999
49805 W 9 Mile Road, Northville, MI 48167
4 bd6 ba4,088 sqft1.05 ac
Single Family
For Sale
1/32
$955,000
1815 E Lake Drive, Novi, MI 48377
2 bd1 ba891 sqft0.29 ac
Single Family
For Sale
1/67
$504,500
25558 Grandview Lane, 38, Novi, MI
3 bd4 ba2,121 sqft
Condo
For Sale
1/34
$319,998
42142 Roscommon Street, Novi, MI 48167
3 bd3 ba2,122 sqft
Condo
Recently Sold(270)
Frequently Asked Questions about Novi Twp
Are there homes available in Novi Twp right now?
Buyers in Novi Twp can choose from 5 active listings. The median asking price is $955,000.
What is the median home price in Novi Twp?
Based on 270 sales in the past year, homes in Novi Twp have a median price of $955,000.
How fast do homes sell in Novi Twp?
Over the past year, homes in Novi Twp spent an average of 55 days on market before selling.
What school districts serve Novi Twp?
Novi Twp is served by one or more public school districts. In Michigan, school district boundaries do not always align with city limits, so different parts of Novi Twp may be zoned for different districts. Check individual listings for the specific school district assignment.
Is Novi Twp a buyer's or seller's market?
With 0.2 months of inventory, Novi Twp is currently a seller's market. This is based on 5 active listings and 270 sales in the past 12 months.
How are property taxes calculated in Novi Twp?
Michigan property taxes in Novi Twp are calculated using the State Equalized Value (SEV) times the local millage rate. Rates vary by school district and municipality. Primary residences qualify for a homestead exemption that reduces the tax rate.
Is housing demand growing in Novi Twp?
Per U.S. Census ACS data, Novi Twp has a +20.3% Household Formation Gap over the past 15 years. Average household size decreased from 2.43 to 2.49, creating demand for approximately 4,495 additional housing units even as population grew 23.3%. HFG is a secondary market indicator — it reflects demographic trends, not a primary measure like income-based affordability.