South Lyon and Lyon Township Real Estate: What the May 2026 Numbers Are Telling Us

If you're keeping an eye on home values in South Lyon or Lyon Township, here's what I'm seeing in the latest data.

I pull the local market reports every month, and May gave us two very different stories depending on which side of the township line you're on. Here's a breakdown of what's happening, what it means if you're thinking about selling, and what it means if you're hoping to buy.

The Metro Detroit backdrop

Before getting into the local numbers, it helps to know what's happening across the wider region. Across Livingston, Macomb, Oakland, and Wayne counties, the median sale price is up about 9 percent compared to last May, landing around $325,000. Homes are still selling close to full price, right around 100 percent of list price on average.

That's the regional context. Locally, things look a bit different.

South Lyon: prices easing, but tight inventory keeps it competitive

Here's what stands out in South Lyon for May:

• The median sale price came in at $442,800, down from $534,900 a year ago. That's about a 17 percent drop.
• Homes are taking a little longer to sell, 24 days on average compared to 20 last year.
• Inventory is still tight. Only 20 homes were on the market, which works out to just 1.5 months of supply.
• Even with prices easing, sellers received about 102.7 percent of list price on average.

What the price drop actually means

The numbers tell part of the story here. A drop in median price doesn't always mean homes are losing value across the board. It can also reflect a shift in what types of homes sold that month, smaller homes, different neighborhoods, or fewer high end sales pulling the average down.

What this looks like for South Lyon right now

What I'd take away from this: with only 1.5 months of supply, South Lyon is still very much a seller's market on paper. But buyers are clearly being more selective, which is why we're seeing days on market creep up. Homes that are priced right and show well are still moving quickly and getting strong offers. Homes that are overpriced or need work are sitting longer.

Lyon Township: prices climbing, more room for buyers to look around

Lyon Township is telling a different story:

• The median sale price jumped to $692,000, up about 18 percent from last year.
• Homes sold faster, just 15 days on average, down from 23.
• Inventory grew significantly, from 42 homes a year ago to 58 now, putting months of supply at 3.4.
• Sellers received about 101 percent of list price on average.

Why rising inventory matters here

This is worth paying attention to if you're on either side of a transaction here. Prices are up and homes that hit the market in good condition are still selling quickly. But the jump in inventory means buyers finally have more to choose from than they did a year ago. That extra supply is part of why the overall market here feels a little less frantic, even with prices climbing.

What this means for sellers

For sellers, the takeaway is simple. Pricing strategy matters more now than it did a year or two ago. In both South Lyon and Lyon Township, the homes getting strong, fast offers are the ones priced accurately for their condition from day one. The homes sitting on the market longer are usually the ones that started high and had to come down later.

Not every home is getting the same result, even within the same neighborhood. Condition, presentation, and that first impression online still make a real difference in how fast a home sells and what it sells for.

What this means for buyers

For buyers, this means preparation still matters. In South Lyon, low inventory means good homes can go quickly, so having your financing in order and being ready to act is important. In Lyon Township, you have a bit more to choose from right now, which gives you some room to be selective, but well priced homes are still attracting multiple looks.

Frequently asked questions

Is South Lyon a buyer's or seller's market right now?

With only 1.5 months of supply, South Lyon still leans toward sellers on paper. But rising days on market suggest buyers are being more selective, so well priced and well presented homes have an edge.

Why did the median home price in South Lyon go down if the market is still tight?

A lower median price doesn't always mean homes are worth less. It often reflects which homes sold that month, the mix of sizes, conditions, and locations can shift the median up or down even when individual home values hold steady.

Is Lyon Township a good place to buy a home in 2026?

Lyon Township has more inventory than it did a year ago, which gives buyers more options. Prices have risen, but the additional supply means less competition for some listings compared to last year.

How long are homes taking to sell in South Lyon and Lyon Township?

In May, homes in South Lyon averaged 24 days on market, while homes in Lyon Township averaged 15 days. Both are still relatively fast by historical standards.

Should I sell my home now or wait?

That depends on your specific home, neighborhood, and goals. If you'd like, I'm happy to put together a quick comparison for your property so you can see where it fits in the current market.

A quick word of advice

These numbers are useful, but they're regional and township wide. Your street, your home's condition, and your specific situation can change the picture quite a bit. If you're thinking about buying or selling in South Lyon or Lyon Township and want to know what this actually means for your home or your search, reach out and I'll walk you through it. No pressure, just helpful information so you can make a good decision.