Realtors in Novi MI have reported a highly competitive housing market in the area. Profitable home transactions take place pretty frequently. Therefore, selling property in Novi might turn out to be a financial jackpot at the moment! If you decide to sell your home, count on top real estate agents in Novi MI! In Novi, local realtors are trained to represent home sellers with care and expertise. We all know the vexing legal procedures and complex paperwork a house sale implies. Hiring realtors in Novi MI, you can forget about all that hassle. Precision, efficiency, substantial returns are the agents’ mottos. So, why don’t you call local real estate agents in Novi MI to get the highest bid for your property?
Let’s jump into the real estate market in Novi, Michigan!
Even though Novi is located in a developed metropolitan area with much potential, real estate prices are pretty accessible. From March 2019 till the present day, home values were reported to be in the price range between $300,000 and $450,000. As of late 2021, the median property sale price was approximately $455,000, which means a 17 percent increase compared to 2020. Local real estate agents in Novi MI will confirm that we’re experiencing a hot seller’s market momentarily. That is, buyers can engage in ‘bidding wars,’ resulting in homes receiving multiple offers. Besides, ‘hot’ properties received an offer five percent above the listing price. And about 55 percent of all homes sold above the list price. Real estate sells in 17 days after listing on average. Real estate in Novi is available approximately at two times the price of the Michigan average.
On the other hand, rentals in Novi are also in demand. Renting an apartment or house in Novi costs 43 percent more than in the state on average. Reach out to realtors in Novi Michigan to advise you on the housing prospects in the city!
Discover the impressive economic prospects in Novi, Michigan
Undoubtedly, Novi continues to surprise us as one of the fastest-growing cities in the Detroit metropolitan area and America in general. The city tapped into something genuinely productive financial-wise. As a result, the local economy experiences its hey-days during the 2020s. The rate of unemployment in Novi is pretty astonishing, only 2.4 percent, while the national average is 6 percent at the moment. Moreover, analysts reported a 0.3 percent job growth in 2021 and now are expecting to increase even more. The median household income is approximately $98,000. The place also excels in a low poverty rate with 5.7 percent compared to the 13.4 percent national average.
The construction of Twelve Oaks Mall (1977) gave a crucial boost to the economy by creating numerous jobs, resulting in a model shopping venue across Michigan. Besides, Novi hosts national and international corporations in ingeniously designed and maintained industrial and office parks. Many high-tech, manufacturing, transportation, logistics, health care companies, and automobile parts suppliers (Cooper Standard, Eberspacher) have local headquarters. Additionally, the energy industry is rising in the region, for example, Novi Energy and Patrick Energy Services.
The city pored over the development of a competitive education system. Learning Care Group and Childtime are nationally recognized child-care providers and some of the top leading employers in the city. Furthermore, you can find the following prominent local companies in Novi: Tata Technologies, Maxion Wheels, and AccessPoint. The latter provides human-resource services for a large variety of industries.
Let Novi, Michigan, intrigue you with trendy pastime activities!
Oakland County is home to Novi. It’s the northern suburb of the Detroit Metropolitan Area, only eight miles from the renowned city. The area of the town is 31.29 square miles, while its population counted around 61,000 residents in 2022.
You wouldn’t believe how many exciting activities and must-see places Novi can amaze you with. Let’s start by recommending Paradise Park for interactive games, such as laser tag, golf, and arcade. So, why not pay a visit if you’re searching for thrilling, fun times? Have a refreshing swim in Walled Lake at Lakeshore Park, Novi’s most fantastic lake! Next to the lake, you can enjoy a picnic with your family or ride your bike on hiking trails. You can behold Novi’s natural beauties at Rotary Park. Have you heard of Novi Coney Island? Then go to this perfect venue and start your day with a delicious breakfast at this gorgeous restaurant! Explore the legendary Twelve Oaks Mall shopping center that greatly influenced the city’s development. Besides, Novi Bowl Family Fun Center and Novi Ice Arena serve as hotspots for families looking for joyous times in the area. For sure, the fun doesn’t stop here. In doubt, contact local real estate agents in Novi MI, to provide you with expert guidance on hidden outdoor and indoor gems!
Should you move to Novi, Michigan?
Novi features a dynamically growing business community with many potentials to build your career in any domain. In addition, you can find real estate at reasonable prices that will serve as an excellent future investment for you.
But how do residents in Novi feel about their city? Overall, Novi registered a remarkable livability score among locals. Crime rates in Novi are 57 percent lower than the Michigan average. These favorable living conditions come at a price, though. In Novi, the cost of living is approximately 27 percent higher than the state average.
Residents praise public schools (for instance, Deerfield Elementary School and Novi High School), the family-friendly community, housing availabilities, entertainment, artistic, and cultural venues. They also praise the truly vibrant nightlife (for instance, at 29 Novi) and multicultural diversity. However, crime and safety received a B- rating.
Ask local real estate agents in Novi MI, and let them convince you to move to this beautiful city!
