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South Lyon Real Estate Market
Current home prices, inventory, days on market and local housing trends for South Lyon and Lyon Township, with context from the broader Metro Detroit market.
South Lyon is not one uniform real estate market. The City of South Lyon and Lyon Township have different housing choices and price ranges. Neighborhood, property type, condition and current competition matter when deciding what a home is worth.
South Lyon Market at a Glance
Compare the City of South Lyon, Lyon Township and Metro Detroit separately. South Lyon had just eight residential closings in August, so its monthly figures need more caution than the township's 33-sale sample.
| Residential Metric | South Lyon | Lyon Township | Metro Detroit |
|---|---|---|---|
| Median Sale Price | $361,500 (-33.1%) | $673,040 (+2.9%) | $320,000 (+4.2%) |
| Days on Market | 16 (+33.3%) | 29 (+45.0%) | 27 (+3.8%) |
| Percent of List Price Received | 100.5% (+0.2%) | 99.7% (-0.7%) | 99.1% (-0.3%) |
| Months of Inventory | 2.0 (-45.9%) | 3.7 (+146.7%) | 3.1 (+10.7%) |
| Homes for Sale | 22 (-45.0%) | 74 (+131.3%) | 10,100 (+12.7%) |
| New Listings | 18 (-14.3%) | 42 (+61.5%) | 6,033 (+8.0%) |
| Pending Sales | 5 (-70.6%) | 25 (+31.6%) | 3,673 (-1.0%) |
| Closed Sales | 8 (-63.6%) | 33 (+43.5%) | 3,632 (-4.4%) |
Source for all market statistics: Realcomp II Ltd., South Lyon, Lyon Twp and Metro Detroit Local Market Updates, August 2026; current as of September 8, 2026. Metro Detroit includes Livingston, Macomb, Oakland and Wayne counties. Parentheses in all tables show Realcomp's year-over-year percentage changes for the same month or YTD period, not percentage-point changes. Price and list-price-received figures do not account for sale concessions or downpayment assistance. Reported changes use rounded figures; small samples can produce extreme changes.
What the Numbers Mean
The August reports show two different residential markets, not one combined South Lyon trend.
South Lyon's residential median was $361,500, down 33.1% from last August, based on eight closings compared with 22 a year earlier. That is a change in the median of the homes sold, not evidence that every home lost a third of its value. Lyon Township's median was $673,040, up 2.9%, with 33 closings compared with 23.
South Lyon's sold homes averaged 16 days on market and 100.5% of list price. Lyon Township averaged 29 days and 99.7%, compared with 27 days and 99.1% across Metro Detroit. These describe completed sales, not how quickly every current listing will sell or what any individual seller should expect.
Available residential inventory moved in opposite directions: South Lyon had 22 homes for sale, down 45.0%, while Lyon Township had 74, up 131.3%. Supply was 2.0 months in the city and 3.7 months in the township, versus 3.1 months regionally. Township buyers had more listed choices than a year earlier, even as August closings increased.
Market Trends Through August
January through August provides a broader view, with 79 residential closings in South Lyon and 169 in Lyon Township. New listings totaled 127 in the city (-22.1%) and 308 in the township (+30.0%); pending sales totaled 84 (-18.4%) and 187 (+3.9%), respectively. Metro Detroit recorded 41,703 new listings (+4.4%) and 27,128 pending sales (+1.2%). All changes compare with the same 2025 period.
| Residential Metric | South Lyon YTD | Lyon Township YTD | Metro Detroit YTD |
|---|---|---|---|
| Median Sale Price | $450,000 (-14.3%) | $650,000 (+4.8%) | $300,000 (+4.2%) |
| Average Sale Price | $474,647 (-8.6%) | $669,045 (+4.7%) | $368,711 (+4.2%) |
| Closed Sales | 79 (-19.4%) | 169 (-3.4%) | 25,489 (-1.1%) |
| Days on Market | 39 (+95.0%) | 21 (-16.0%) | 31 (+6.9%) |
| Percent of List Price Received | 100.2% (-0.7%) | 100.1% (-0.4%) | 99.3% (-0.2%) |
South Lyon and Lyon Township Condo Market
Condominiums need their own analysis. The YTD figures below offer more context than August's eight city closings and seven township closings, although the township's 28-sale YTD sample is still modest.
| 2026 YTD Condo Metric | South Lyon | Lyon Township | Metro Detroit |
|---|---|---|---|
| Median Sale Price | $163,000 (-4.1%) | $433,250 (+50.7%) | $257,000 (+2.8%) |
| Average Sale Price | $202,114 (+7.9%) | $371,215 (+44.2%) | $292,350 (+3.9%) |
| Closed Sales | 71 (-2.7%) | 28 (+100.0%) | 5,145 (+1.4%) |
| Days on Market | 50 (+56.3%) | 59 (+96.7%) | 40 (+17.6%) |
| Percent of List Price Received | 96.9% (-0.9%) | 97.8% (0.0%) | 98.3% (-0.5%) |
In August, South Lyon condos had a $156,500 median (-7.4%), 37 days on market (+85.0%) and 97.9% of list price received. Inventory rose 60.0% to 40 condos, with 4.2 months of supply, versus 2.0 months for city residential homes. Lyon Township condos had a $433,500 median, 61 days on market (-3.2%) and 96.8% of list price received. Its 10 available condos (+11.1%) represented 2.2 months of supply. Metro Detroit's condo median was $260,000 (+2.0%), with 34 days on market, 98.5% of list price received, 616 closings (-14.7%), 2,260 available condos (+24.8%) and 3.5 months of supply.
What South Lyon Sellers Should Know
Lyon Township's increased residential inventory makes competing listings an important part of pricing and preparation. South Lyon's lower residential inventory does not guarantee an easy sale: YTD selling time rose to 39 days. City condo sellers face a different picture, with more inventory and 50 days on market year to date.
When I evaluate a South Lyon or Lyon Township home before listing, I focus on the properties buyers will actually compare with it and the preparation that will help it show clearly and confidently.
- Recent neighborhood sales with similar property type and features
- Current competing listings, including new construction where relevant
- Pending sales when useful information is available
- Condition, updates, needed repairs and presentation
- Municipality, location, lot, garage, basement and functional differences
- Buyer activity and time on market within the specific price range
The goal is a price and presentation that make sense together. A citywide median cannot tell us whether your home is positioned well against its closest competition.
Thinking About Selling a South Lyon Home?
Let's talk through pricing, preparation, marketing and negotiation for your South Lyon or Lyon Township property.
What South Lyon Buyers Should Know
More township residential inventory can provide more choices, but it does not establish negotiating room on every listing. The city's residential and condo supply figures also differ substantially. Start with the municipality, neighborhood and property type, then evaluate the home's direct competition.
Price Range Matters
The YTD residential medians were $450,000 in South Lyon and $650,000 in Lyon Township. Those are different groups of sold homes, not price targets for every property in either municipality.
Condition Matters
Compare updates, needed repairs and overall condition alongside price. An attractive asking price may come with work that affects your budget and timing.
Location Matters
Downtown proximity, subdivision, lot characteristics and municipality help determine the right comparable sales. Condos also require a community-specific comparison.
Timing Matters
A new listing with strong showing activity may require a different offer strategy from a home that has been available for weeks. Review price changes and current alternatives before deciding.
What Are South Lyon Homes Worth?
A useful valuation starts with comparable properties in the appropriate South Lyon or Lyon Township market. Size, condition, updates, location, lot, layout and price range all affect which sales are relevant.
Automated estimates and broad averages cannot fully account for these differences. I weigh recent comparable sales against current competition to explain a realistic range and the factors that support it.
Recently Sold Homes
These show what buyers paid for comparable properties, with attention to differences in condition, updates, location, lot and features.
Current Competition
These show the choices buyers have now and where your property would fit within its neighborhood, property type and price range.
What Could Your South Lyon Home Sell For?
A property-specific market analysis connects the broader numbers to your home, your competition and your plans.
Request a Personalized Home ValueSouth Lyon and Lyon Township Can Behave Differently
People commonly use “South Lyon” to describe the broader area. The City of South Lyon and Lyon Township are separate municipalities, with different mixes of neighborhoods, housing stock, lot characteristics, new construction, condominium communities and price ranges.
City of South Lyon
The city includes downtown-area homes, established neighborhoods and condominium communities. Its YTD residential median was $450,000, while its condo median was $163,000. Even within the city, these should be evaluated as separate markets.
Lyon Township
The township includes subdivisions, newer construction, condominium communities and homes with varied lot sizes and settings. Its YTD residential median was $650,000 and its condo median was $433,250, based on different mixes of sold properties.
These reports support keeping the municipalities separate rather than creating a single blended median. They do not isolate how much of the difference comes from home size, age, condition, new construction or a particular neighborhood. That requires property-level comparable sales.
A Recent South Lyon Area Real Estate Result
Carriage Trace Home
Listed at $699,900
Sold for $718,000
Three offers
Strategy Matters More Than a Headline Number
This Jeff Duneske Real Estate result reflects one property's outcome. It does not mean every South Lyon area home will sell above asking or receive multiple offers. Pricing, preparation and the competition surrounding a specific property still deserve their own analysis.
South Lyon Real Estate Market FAQs
Is South Lyon a buyer's market or a seller's market?
August residential supply was 2.0 months in South Lyon and 3.7 months in Lyon Township. City condos had 4.2 months of supply. Those differences make one area-wide label unhelpful. Your negotiating position depends on property type, condition, price, neighborhood and the alternatives available.
What is the median home price in South Lyon?
The August 2026 residential median was $361,500 in the City of South Lyon and $673,040 in Lyon Township. The YTD medians were $450,000 and $650,000, respectively. The city's August figure reflects only eight closings, so I give the broader period and comparable sales more weight.
How does South Lyon compare with Metro Detroit?
Metro Detroit's August residential median was $320,000, up 4.2% year over year, below both local medians. Its 27 days on market compared with 16 in South Lyon and 29 in Lyon Township. Year to date, the regional median was $300,000, compared with $450,000 and $650,000 locally. Different housing mixes limit direct value comparisons.
How are South Lyon and Lyon Township condos performing?
Through August, South Lyon's condo median was $163,000, down 4.1%, with 71 closings and 50 days on market. Lyon Township's was $433,250, up 50.7%, with 28 closings and 59 days on market. Both had longer YTD selling times than in 2025. The township's modest sample and changing mix require caution; these are not the same conditions as the residential market.
Did city home values fall 33.1% while township condo values rose 410%?
Those are changes in monthly sale medians, not measured changes in individual property values. South Lyon had eight residential closings versus 22 last August. Lyon Township had seven condo closings versus a single $85,000 condo sale last August. Different properties and small samples can move medians sharply. YTD data help, but still do not track the same homes over time.
Why separate the City of South Lyon from Lyon Township?
The municipalities contain different housing and price-range mixes. In August, city residential inventory fell 45.0% while township inventory rose 131.3%. Combining them would hide an important difference in available competition. I also compare neighborhoods and property types within each municipality before recommending a price or offer.
Market Guidance From Jeff Duneske
I've worked in Metro Detroit real estate since 2000 and have lived in the South Lyon area since 2013. Helping buyers and sellers here means understanding the differences between the city, township, neighborhoods and individual homes.
My role is to help you connect market statistics with your property and your plans, whether you're buying your first home, moving up, downsizing or preparing to sell a long-held home.
If you're considering a move, I'm happy to review the comparable sales, explain your options and help you decide on a comfortable next step.
No pressure. Just clarity.
Wondering What the South Lyon Market Means for You?
Whether you're considering selling, buying, downsizing or simply trying to understand what your home may be worth, I can help you evaluate the South Lyon or Lyon Township market and what makes sense for your situation.