Northville & Novi Real Estate Market Update: What's Different in 2026

Quick Summary
The Northville and Novi real estate markets are experiencing a significant shift as we enter 2026. Metro Detroit inventory has reached a five-year high, and the rate lock effect that kept homeowners frozen in place is finally loosening. For the first time since 2021, both buyers and sellers are finding real opportunities in what's shaping up to be a balanced and strategic market.

The 2026 Shift: From Waiting to Moving

For the past two years, the prevailing wisdom was simple: don't move. Homeowners clung to mortgage rates in the low three percent range, even when their homes no longer fit their lives. But in 2026, that calculus is changing.

Life doesn't wait for interest rates. Relocations, growing families, aging parents, and career changes are once again driving decisions. And the numbers reflect it.

Here's what the data shows locally:

Inventory is back. Active listings in Northville and Novi are up 13.4% compared to January 2025, the highest level we've seen since early 2020.

Values remain strong. Even with more homes on the market, properties in top-rated school districts like Northville Public Schools and Novi Community Schools are still projected to appreciate 6 to 8% this year.

Buyers have leverage again. Inspection negotiations, seller concessions, and rate buydowns are back on the table. These are tools that were virtually unheard of just 18 months ago.

Why Northville and Novi Continue to Outperform

While some national markets are cooling or correcting, Metro Detroit, particularly the Northville and Novi corridor, remains resilient.

The reason? Demand still exceeds supply in the areas that matter most. Walkable downtown Northville, the retail and dining convenience of Novi, and proximity to top employers in technology and healthcare. These aren't just lifestyle perks. They're market drivers.

Homeowners in South Lyon, Lyon Township, and Plymouth are often surprised when they see their current equity positions. Many are sitting on near record gains. Even with rates hovering closer to 6%, rolling that equity into a new home often makes the monthly payment more manageable than expected and opens the door to a home that better fits their needs.

Curious what your home is worth in today's market? Request a free home valuation to see how much equity you have.

2026 Real Estate FAQ

Should I wait for mortgage rates to hit 5% before buying in Northville?
Waiting for a specific rate is a gamble. If rates drop significantly, buyer competition will surge, driving up prices and reducing your negotiating power. In many cases, buying now with strong equity and favorable terms beats waiting for a rate that may bring a bidding war.

Are home values dropping in Novi in 2026?
No. Appreciation has slowed to a healthier, more sustainable pace, but values are not declining. Novi's proximity to major employers, healthcare centers, and excellent schools continues to fuel steady demand. Expect growth, not correction.

What's the best month to sell a home in Metro Detroit this year?
Michigan's spring market starts earlier than most people think. Late January through March often delivers strong buyer demand with less seller competition. If you're considering a move, February and March are ideal listing windows this year.

The Bottom Line

The 2026 market isn't about perfect timing. It's about informed decision-making. Whether you're eyeing a colonial in Northville Hills Golf Club, a ranch in South Lyon, or a luxury condo near Main Centre, the opportunity to move strategically is stronger now than it's been in years.

Explore current listings:

• Homes for Sale in Northville
• Homes for Sale in Novi
• View All Metro Detroit Listings

Let's Talk About Your Situation

This update is based on what I'm seeing daily across Northville, Novi, South Lyon, and Plymouth. Real estate is local, and the small details often matter most. If you'd like to discuss how this market shift applies to your specific goals, I'm here to help.