The housing market in 48377 Novi, MI is doing well. The median value of a house is $333,400, which is close to the US house median value of $338,100. The US house appreciation rate is 8.27%, and the rate for houses in 48377 Novi, MI is 8.00%. This shows that the housing market in this area has been appreciating at a steady pace over the past year. Overall, the housing market in 48377 Novi, MI appears to be healthy and growing.
The median home cost in Novi (zip 48377) is $333,400. Home appreciation the last 10 years has been 110.3%. Home Appreciation in Novi (zip 48377) is up 11.2%.
Average Age of Homes
- The median age of Novi (zip 48377) real estate is 21 years old
The Rental Market in Novi (zip 48377)
- Renters make up 50.4% of the Novi (zip 48377) population
- 5.3% of houses and apartments in Novi (zip 48377), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.