South Lyon and Lyon Township Real Estate Market Update: June 2026

By Jeff Duneske, Associate Broker, Jeff Duneske Real Estate

The South Lyon area, meaning the City of South Lyon and Lyon Township combined, recorded 49 closed residential sales in June 2026, based on Realcomp data. Lyon Township inventory more than doubled from a year ago, rising from 31 homes for sale to 67, yet homes still sold in 14 days at a median price of $632,500. In the City of South Lyon, the median sale price was $425,000 on 13 closed sales, and sellers received 102.8 percent of list price. Buyers gained more choices in the township, but neither market handed them real negotiating leverage in June.

South Lyon Area Market Snapshot: June 2026

Realcomp reports the City of South Lyon and Lyon Township separately, so the numbers below are labeled by municipality. Both sets cover residential sales, with condominiums reported separately.

Lyon Township (residential)

• Median sale price: $632,500, down 2.7 percent from June 2025
• Closed sales: 36
• Days on market until sale: 14, down from 26
• Homes for sale: 67, up 116.1 percent
• Months supply of inventory: 3.7, up from 1.4
• Percent of list price received: 100.1 percent

City of South Lyon (residential)

• Median sale price: $425,000, down 15.8 percent from June 2025
• Closed sales: 13
• Days on market until sale: 12, down from 20
• Homes for sale: 21, down 36.4 percent
• Months supply of inventory: 1.7, down from 3.3
• Percent of list price received: 102.8 percent

Why did the median sale price in South Lyon fall 15.8 percent?

The short answer is the mix of homes that closed, not falling values. The City of South Lyon recorded 13 closed sales in June. With a sample that small, the median moves with whichever homes happen to close in a given month. A month heavier in entry-level or mid-range homes will show a lower median even if no individual home lost value.

The rest of the data points away from a weakening market. Sellers received 102.8 percent of list price on average, meaning the typical June sale closed above asking. Homes sold in 12 days. Inventory fell to 21 homes, or 1.7 months of supply. Falling markets do not usually look like that.

One number worth honest attention: the year-to-date median for the city is $445,000, down 10.6 percent from the same period last year, on 58 closed sales. That is a larger sample, and it suggests the mix of what is selling in the city has genuinely shifted toward lower price points this year. It does not, by itself, prove that home values declined, but it is a trend I will keep watching in the second half of the year.

Is Lyon Township shifting toward a buyer's market?

Not yet, but the supply picture changed meaningfully. New listings jumped from 20 last June to 52 this June. Homes for sale more than doubled, from 31 to 67. Months supply rose from 1.4 to 3.7, which is the neighborhood of a balanced market rather than a strong seller's market.

Demand absorbed it, at least for now. Pending sales rose from 23 to 36. Homes sold in 14 days, down from 26 a year ago, and sellers received 100.1 percent of list price. Buyers gained choices without yet gaining leverage.

The caution flag sits in the year-to-date numbers. Closed sales through June are down 23.2 percent from last year, and the year-to-date median of $611,240 is essentially flat. Supply is building faster than sales are closing. If new listings continue arriving at June's pace and pending sales do not keep up, market times will likely lengthen and buyers will start negotiating harder by fall.

What about condos in the South Lyon area?

The condo segment is running slower than single-family homes, particularly in the city. City of South Lyon condos took 67 days on market until sale in June, sellers received 96.3 percent of list price, and condo inventory rose 70.8 percent to 41 units. That is a market where buyers can take their time. Lyon Township recorded 7 condo closings at a median of $425,000, against zero closings last June; samples that small do not support trend conclusions, so I will simply note the activity.

How does the South Lyon area compare to Metro Detroit?

Across Livingston, Macomb, Oakland, and Wayne counties, the June residential median was $324,500, up 6.4 percent from a year ago. Regional inventory grew 9.9 percent, months supply reached 2.7, and homes sold in 24 days.

Two local contrasts stand out. First, both local markets moved faster than the region, at 12 and 14 days against the regional 24. Second, Lyon Township inventory grew at more than ten times the regional rate, 116.1 percent against 9.9 percent, which makes the township one of the more rapidly loosening submarkets in the South Lyon area.

A note on price comparisons. Local medians of $425,000 and $632,500 sit well above the regional $324,500 because the homes differ in size, age, lot, and location. A higher median does not mean the South Lyon area is appreciating faster than Metro Detroit, and this month the local medians moved down while the regional median moved up, largely for mix reasons on small local samples.

What should sellers in the South Lyon area do with this information?

It depends on which side of the boundary your home sits, even though both carry a South Lyon mailing address.

In Lyon Township, the competitive landscape has changed since spring. A seller pricing off comparable sales from early 2026 or 2025 is pricing against a market with half the current inventory. Buyers touring your home in July will compare it against 66 other active listings, and they will notice which sellers have adjusted and which have not. Study the active competition before setting your price, because your buyers will.

In the City of South Lyon, supply is thin and June sellers averaged above list price. That is a favorable window. The one caution is pending sales, which fell from 25 last June to 10 this June. A thinner pipeline means fewer buyers in motion, so a well-prepared, accurately priced launch matters more than it did when the pipeline was full.

Jeff's Take

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

The headline numbers mislead in both directions this month. The city's 15.8 percent median drop looks alarming and mostly is not; 13 sales closing above list in 12 days is not a market in decline. The township's near-flat median looks calm and hides the real story, which is that the number of competing listings more than doubled in twelve months. If I owned a home in Lyon Township and planned to sell within the next year, the inventory line is the one I would care about, not the median.

The strongest position in the area right now is a well-prepared single-family home in the City of South Lyon, where 1.7 months of supply keeps sellers in control. The weakest positions are city condos, where 67 days on market and 96.3 percent of list price show buyers setting the pace, and township sellers who anchor to a neighbor's sale price from a tighter market.

My recommendation differs by municipality. Township sellers should price at the market, not above it, and should treat presentation as a competitive requirement rather than a finishing touch, because 67 active listings give buyers a basis for comparison that did not exist last summer. City sellers should not wait for a stronger headline median; the conditions underneath the median are the strong part. In both markets, if inventory keeps building at June's pace while year-to-date sales run behind last year, expect longer market times and more negotiation on terms by fall. If listing activity levels off, the current pace should hold through the summer.

Frequently Asked Questions

Is it a good time to sell a house in South Lyon or Lyon Township?

Conditions in June 2026 still favored prepared sellers. Homes in the City of South Lyon sold in 12 days at 102.8 percent of list price, and Lyon Township homes sold in 14 days. Rising township inventory means pricing accurately matters more than it did a year ago.

Why did the median sale price in South Lyon drop in June 2026?

The June 2026 median of $425,000 was based on only 13 closed sales, so the mix of homes that closed heavily influenced the number. Sellers received 102.8 percent of list price on average, which does not indicate falling values. Small monthly samples in a market this size can swing the median significantly.

Is Lyon Township becoming a buyer's market?

Not yet. Inventory more than doubled to 67 homes and months supply rose to 3.7, but homes still sold in 14 days at 100.1 percent of list price in June 2026. Buyers gained more choices without yet gaining significant negotiating leverage.

How does the South Lyon area compare to the Metro Detroit market?

Homes in both the City of South Lyon and Lyon Township sold faster than the Metro Detroit average of 24 days in June 2026. Local median prices sit well above the regional median of $324,500 because the homes differ in size, age, and location, not because the area is appreciating faster.

Market statistics are based on Realcomp II Ltd. data for the City of South Lyon and Lyon Township, Michigan, covering June 2026, current as of July 8, 2026. Residential and condominium sales are reported separately. Real estate conditions vary by neighborhood, property type, condition, and price range.

If you own a home in the South Lyon area 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.