Novi Real Estate Market Update December 2025

What I’m Seeing and What It Means for 2026 Buyers and Sellers

Key Takeaways for Novi Homeowners and Buyers

• Residential median sales price: $490,000, down 4.9% from December 2024

• Condo median sales price: $351,000, up 37.6% year over year

• Average days on market: 43 days for homes and 34 days for condos

• Year-to-date median price: $573,750 for homes (down 6.7%) and $324,860 for condos (up 18.1%)

• Inventory remains limited, with 1.0 months supply for homes and 1.9 months for condos

This update is based on official December 2025 MLS data, along with what I’m seeing daily while working directly with Novi buyers and sellers. The market is no longer moving at the breakneck pace of recent years, but it remains healthy, competitive, and highly local.

What stands out most right now is that buyers have more time and flexibility, while sellers who price correctly are still achieving strong results.

Residential Market: A Return to More Normal Conditions

In December 2025, the Novi residential market showed a noticeable shift compared to recent years. The median sales price settled at $490,000, down from $515,000 in December 2024. On a year-to-date basis, the median price reached $573,750, reflecting a modest pullback from peak levels.

From a local perspective, this doesn’t feel like a downturn. It feels like a correction back to sustainable pricing after several years of rapid appreciation.

What this means for sellers
What I’m seeing is that homes that are priced with today’s market in mind and appropriately prepared are still selling very close to list price. Buyers remain willing to pay fair market value, but they are no longer willing to stretch for homes that feel overpriced or underprepared.

What this means for buyers
Buyers now have something that hasn’t existed in years: time. With average days on market rising to 43, buyers can slow down, conduct inspections, ask questions, and negotiate with confidence. The urgency and emotional pressure of the 2021-2023 market have eased significantly.

Seasonally, new listings declined in December, which is typical. What’s notable is that closed sales remained relatively steady, showing that serious buyers are still active even during the winter months.

Condo Market: Continued Strength and Strong Demand

The condo market in Novi continues to stand out.

In December 2025, the median condo price rose to $351,000, up 37.6% year over year. Year to date, condo prices increased 18.1% to a median of $324,860.

What I’m seeing locally is strong demand from buyers downsizing from single-family homes while prioritizing location, lifestyle, and low-maintenance living. Well-maintained, well-located condos continue to attract attention quickly.

While condo inventory increased to 40 active listings, supply remains tight at just 1.9 months. In practical terms, this means sellers still hold an advantage, even though buyers now have a bit more breathing room than in prior years.

Market Pace: What Days on Market Are Really Telling Us

One of the clearest indicators of today’s market shift is the change in how long homes are taking to sell.

Residential homes now average 43 days on market, nearly double what we saw a year ago—condos average 34 days, up from the mid-20s last winter.

In practice, this is a healthy change. It allows buyers to make thoughtful decisions and will enable sellers to properly prepare and position their homes, rather than rushing to market.

It’s also important to note that well-priced, well-maintained homes are still moving quickly. Properties that sit longer are typically those that missed the mark on pricing or presentation.

Should You Buy or Sell in Novi in Early 2026

For home sellers
Early 2026 can be a strategic time to list, especially before spring inventory increases. Sellers who understand current market conditions and price accordingly are still achieving strong results without competing against a flood of new listings.

For condo sellers
Condo demand remains strong, supported by lifestyle preferences and limited inventory. For owners considering a move, this remains a favorable environment.

For buyers
Residential buyers have more leverage than they’ve had in several years. There’s time to inspect, negotiate, and evaluate options carefully. Condo buyers should expect competition, but not the urgency or escalation seen during peak market years.

Novi Real Estate FAQ: December 2025

Are Novi home prices dropping in 2026
From what I’m seeing, prices are stabilizing rather than falling sharply. The recent adjustments reflect a normalization from unsustainable appreciation, not a weakening of demand.

Is inventory increasing in Novi?
Condo inventory has grown, giving buyers more choices. Residential inventory remains below historical norms, particularly during the winter months.

What is the best time to list a Novi home in 2026
Based on current conditions and historical trends, late January through March often provides intense exposure before peak spring competition arrives.

The Bottom Line for Novi Real Estate

The December 2025 data points to a market that is transitioning into a more balanced phase. Residential prices are normalizing, while condos continue to perform strongly. Both buyers and sellers can benefit by understanding local dynamics and making informed decisions.

This reflects what I’m seeing across Novi and the surrounding Metro Detroit communities. Real estate decisions are local, and small details often make a big difference.

If you’d like to review the official December 2025 Novi market data from Realcomp, it can serve as a supporting data source.

Let’s Talk About Your Situation

Whether you’re considering a move this year, evaluating your equity, or simply looking for clarity around your options, I’m always happy to talk things through with no pressure or obligation.

Call or text me at (248) 939-9393, or contact me here to discuss what makes the most sense for your situation.