By Jeff Duneske, Associate Broker, Jeff Duneske Real Estate

The Novi housing market split along property lines in June 2026, based on Realcomp data for Novi, Oakland County. Single-family closings rose 34.9 percent to 58 sales, the median sale price reached $635,000, and sellers received 101.6 percent of list price with just 2.0 months of supply. The condo market moved the other direction: inventory jumped 78.8 percent to 59 units, closings fell 22.2 percent, and the June condo median dropped to $271,250. Novi remains a seller's market for houses while the condo segment is shifting toward balance.

Novi Market Snapshot: June 2026

Realcomp reports single-family residential and condominium sales separately, and in Novi this month the two segments told very different stories.

Novi single-family residential

• Median sale price: $635,000, up 6.7 percent from June 2025
• Closed sales: 58, up 34.9 percent
• Days on market until sale: 17, up from 11
• Homes for sale: 62, down 3.1 percent
• Months supply of inventory: 2.0
• Percent of list price received: 101.6 percent

Novi condominiums

• Median sale price: $271,250, down 17.2 percent from June 2025
• Closed sales: 28, down 22.2 percent
• Days on market until sale: 32, up from 24
• Condos for sale: 59, up 78.8 percent
• Months supply of inventory: 2.8, up from 1.5
• Percent of list price received: 99.6 percent

Is Novi still a seller's market for single-family homes?

Yes, and June demonstrated why. New listings rose 36.4 percent, from 55 to 75, and the market absorbed nearly all of them. Inventory actually fell 3.1 percent to 62 homes. When a market takes on a third more new supply and ends the month with fewer homes for sale, demand is doing the work.

The pace cooled slightly at the edges. Days on market rose from 11 to 17, and the percent of list price received eased from 103.0 to 101.6. The typical June sale still closed above asking, just with a little less frenzy than a year ago. Two full price points, not a warning sign.

One number deserves a careful read. The average sale price jumped 18.6 percent to $769,587 while the median rose 6.7 percent. That gap does not mean Novi homes gained 18 percent in value. It means more higher-priced homes closed in June than a year ago, which pulls the average up faster than the median. The year-to-date median of $585,000, up 1.3 percent on 160 sales, is the steadier gauge, and it points to a first half that was roughly flat to modestly up.

Why did the Novi condo median fall 17.2 percent?

Partly mix, partly a real shift in conditions. The June median of $271,250 came from 28 closings, a sample small enough that the mix of units that closed moves the number. But the year-to-date median of $300,000 is also down 5.8 percent on 137 sales, which is a larger sample, so this is more than one soft month.

The supply picture explains the pressure. Condos for sale rose from 33 to 59, an increase of 78.8 percent, and months supply nearly doubled from 1.5 to 2.8. Closings fell 22.2 percent and pending sales slipped as well. Condo buyers in Novi have more choices than they have had in years, and they are taking 32 days to decide, paying 99.6 percent of list rather than above it.

How does Novi compare to Metro Detroit?

Across Livingston, Macomb, Oakland, and Wayne counties, the June residential median was $324,500, up 6.4 percent, with inventory up 9.9 percent and homes selling in 24 days. Novi's contrast is direction: regional single-family inventory grew while Novi's shrank. Novi homes also sold a week faster than the regional pace, at 17 days against 24.

The condo divergence runs the other way. Regional condo inventory rose 26.7 percent, which is meaningful, but Novi condo inventory rose 78.8 percent, nearly three times the regional rate. The softness in Novi's condo segment is sharper than the broader Metro Detroit condo market.

A note on price levels. Novi's $635,000 median sits far above the regional $324,500 because Novi's housing stock differs in size, age, and location. A higher median does not mean Novi is appreciating faster than the region, and this June both moved up by a similar percentage.

What should Novi sellers do with this information?

If you own a single-family home, conditions remain in your favor, with one item to watch. Pending sales were flat in June, 48 this year against 48 last year, while new listings surged 36.4 percent. Closed sales can run hot for a month on earlier contracts; pendings show the current pipeline. If listing activity keeps rising and pendings stay flat, competition among sellers will build in the second half. A seller planning to move within the next year gains little by waiting for a better market than 2.0 months of supply and above-list offers.

If you own a condo, the market has repriced around you and pricing strategy has to reflect it. Your competition is the 59 units active today, not your neighbor's sale from 2025. Expect roughly a month on market, expect negotiation, and treat condition and presentation as the way to stand out in a field of 59 rather than optional polish. An accurately priced condo still sells; an aspirationally priced one now sits.

Jeff's Take

These are my conclusions from the June Realcomp data, offered as data interpretation rather than a report from the field.

The headline that needs the most translation is the 18.6 percent jump in average sale price. Homeowners see that number and assume broad appreciation. The median tells the truer story: up 6.7 percent in June and up 1.3 percent year to date. Novi's first half was solid and stable, lifted in June by a heavier mix of high-end closings. If you own a typical Novi home, plan around the median, not the average.

The strongest position in this market is a single-family home, where demand absorbed a 36 percent surge in new listings without letting inventory grow. The weakest position is a condo priced off last year's comps, because the segment added nearly 26 units of competition in twelve months while losing buyers, and the year-to-date median confirms the softness is not a one-month blip.

My recommendation splits by property type. Single-family owners considering a sale should act on the current window rather than time the top; flat pending sales against surging new listings is an early sign that seller competition builds from here if the pattern holds. Condo owners should price at or slightly below the active competition and invest in presentation, because in a 59-unit field the second-best value waits. Looking ahead, if new listings keep arriving at June's pace across both segments, expect Novi to feel more balanced by fall, with longer market times first and price pressure second. If listing activity levels off, single-family sellers should keep the advantage through the summer.

Frequently Asked Questions

Is Novi a seller's market in 2026?

For single-family homes, yes. In June 2026 Novi had 2.0 months of supply, homes sold in 17 days, and sellers received 101.6 percent of list price. The condo segment is more balanced, with 2.8 months of supply and rising inventory.

What is the median home price in Novi?

The median single-family sale price in Novi was $635,000 in June 2026, up 6.7 percent from a year earlier. Through the first half of 2026 the median was $585,000, up 1.3 percent from the same period in 2025.

Why did Novi condo prices drop in June 2026?

The June condo median of $271,250 was based on 28 closings, so the mix of units influenced the number. Rising supply is the bigger factor: condo inventory grew 78.8 percent in a year, giving buyers more choices and more negotiating room. The year-to-date condo median is down 5.8 percent, so the softening is broader than one month.

How fast do homes sell in Novi?

Single-family homes in Novi sold in 17 days on average in June 2026, up from 11 days a year earlier but still a week faster than the Metro Detroit average of 24 days. Condos took 32 days.

Market statistics are based on Realcomp II Ltd. data for Novi, Oakland County, Michigan, covering June 2026, current as of July 8, 2026. Single-family residential and condominium sales are reported separately. Real estate conditions vary by neighborhood, property type, condition, and price range.

If you own a home or condo in Novi and want to know what these numbers mean for your specific property, I am glad to walk you through a home valuation or simply answer your questions. No pressure. Just clarity.