Condos for Sale In Novi, MI

This page is your go to resource for the latest on condos for sale in Novi, Michigan. From Gateway Village to Island Lake stay up to date as any new condo is placed on the market.  This page was created out of the need to have a dedicated site for the Novi condo home buyer but also as a resource for current Novi condo owners who would like to keep an eye on the newest listings in their neighborhood or the Novi area in general. We've also included some of the Pro's and Con's of condo living and, if you're interested in staying up to date on the latest changes in the Novi condo market, the ability to sign up for regular updates on all condos up for sale in Novi MI.  

 

Novi Condos For Sale

All Listings Under $100,000 $100,000 - $200,000
$200,000 - $300,000 $300,000 - $400,000 $400,000 - $500,000
$600,000 - $700,000
86 Properties Found. Page 1 of 5.
Photo of Listing #2200064246
$2,000 3 Beds 2 Baths 1,260 Sf
41306 Cornell Dr, Novi

MLS® # 2200064246

Internet Real Estate, Inc
Photo of Listing #2200064142
$249,000 2 Beds 2 Baths 2,200 Sf
43100 12 Oaks Crescent Dr Unit 5033, Novi

MLS® # 2200064142

RE/MAX New Trend
Photo of Listing #2200061537
$2,000 2 Beds 2 Baths 1,491 Sf
28549 Carlton Way, Novi

MLS® # 2200061537

RE/MAX New Trend
Photo of Listing #2200038121
$215,000 2 Beds 2 Baths 1,400 Sf
41695 Magnolia Court Unit 190, Novi

MLS® # 2200038121

EXP Realty LLC
Photo of Listing #2200063739
$275,000 2 Beds 2 Baths 1,750 Sf
31028 Silverdale Dr, Novi

MLS® # 2200063739

KW Showcase Realty
Photo of Listing #2200063711
$1,375 2 Beds 2 Baths 1,750 Sf
20840 E Glen Haven Cir, Novi

MLS® # 2200063711

3DX Real Estate LLC
Photo of Listing #2200063597
$1,900 3 Beds 2 Baths 1,922 Sf
42178 Roscommon St, Novi

MLS® # 2200063597

Century 21 Premier
Photo of Listing #2200063509
$1,980 3 Beds 2 Baths 1,518 Sf
44563 Gwinnett Loop, Novi

MLS® # 2200063509

Howard Hanna Franklin
Photo of Listing #2200062763
$349,900 3 Beds 3 Baths 2,326 Sf
40661 Lenox Park Dr, Novi

MLS® # 2200062763

Max Broock, REALTORS®-Birmingham
Photo of Listing #2200063410
$279,900 3 Beds 2 Baths 3,156 Sf
41502 Oconnor Ln, Novi

MLS® # 2200063410

Century 21 Premier
Photo of Listing #2200063104
$244,900 2 Beds 2 Baths 1,488 Sf
28544 Carlton Way Dr, Novi

MLS® # 2200063104

RE/MAX Classic
Photo of Listing #2200062950
$215,500 3 Beds 2 Baths 2,022 Sf
21356 E Glen Haven Cir, Novi

MLS® # 2200062950

Lynn & Associates
Photo of Listing #58050019806
$645,000 3 Beds 3 Baths 3,858 Sf
26054 Island Lake, NOVI

MLS® # 58050019806

St. Clair Realty, Inc.
Photo of Listing #2200062542
$2,000 3 Beds 2 Baths 1,519 Sf
27926 Hopkins Dr, Novi

MLS® # 2200062542

RE/MAX New Trend
Photo of Listing #2200062568
$1,998 3 Beds 2 Baths 1,500 Sf
27910 Middleton Dr Unit 275, Novi

MLS® # 2200062568

Community Choice Realty Inc
Photo of Listing #2200053931
$290,000 3 Beds 2 Baths 2,011 Sf
30725 Sandalwood Cir Unit 259, Novi

MLS® # 2200053931

Real Estate One-WB/FH
Photo of Listing #2200062611
$2,700 3 Beds 3 Baths 3,021 Sf
26298 Fieldstone Dr, Novi

MLS® # 2200062611

National Realty Centers-Northville
Photo of Listing #2200061931
$269,000 2 Beds 2 Baths 1,470 Sf
41859 Mitchell Rd Unit 16, Novi

MLS® # 2200061931

Real Estate One-South Lyon

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Additional Information on Condos for Sale In Novi MI

Novi Condos for sale are an excellent opportunity to own a property and gain equity while at the same time staying out the renting game, which is essentially paying someone else's mortgage without the tax benefit. 

Pros & Cons of buying one of the Novi Condos for sale:

 

Pros to Condos for Sale in Novi MI

1) If you are renting an apartment, you should rather be building equity with a condo.  See our Buy vs. Rent Blog Post Here for deeper details

Interest rates make buying more affordable then renting.  The average apartment rents in Novi are now averaging $1460 per month.  With Taxes and Association dues that's equivalent to a 245k condo purchase.  At the same time, you'll be paying yourself back $250 per month through principal payments, and most owners who pay a mortgage at that level average $4250 back on their taxes per year.  That's a combined total of $600 in incentives, bringing the real cost of condo ownership to $860 per month.  If you're looking for condos for sale in Novi MI, it really can't get any cheaper than that. 

2) No outdoor work

Perhaps the most compelling reason for looking for condos for sale in Novi MI vs. homes for sale is the maintenance free living.  Unlike a traditional home, if you prefer not to mow the lawn, week the garden or make any exterior repairs condo's may be a great home alternative.  When the snow falls, no shoveling.  All of these things can be taken care of with a home as well, but because of the size of condo complexes, they can usually negotiate a bulk discount where home owners cannot.  That said when shopping for Novi condos for sale be sure to check the association bylaws as each complex is different in what they maintain vs the condo owner. 

3) Complex Amenities

Many condos for sale in Novi MI come with a ton of amenities including gyms, sauna's, pools, tennis courts and more.  However, everything comes at a cost.  When shopping for condos for sale in Novi MI a great self discovery question is am I going to use all the amenities many of the complexes offer, or should I look more toward a complex with fewer amenities (no pool/gym etc) but have lower monthly dues?  Many condos for sale in Novi MI have association dues in the middle $200 range per month but lack the pool, clubhouse and more.  Several are fully featured, but association dues here average $325 per month and can climb several hundred dollars higher than that.

 4) Freedom to renovate

Homeowners are used to the ability to change kitchens and bathrooms as they'd like, however for buyers looking for Novi condos for sale coming from apartments, the freedom to renovate is new and exciting.  If you prefer granite, change the counters.  If you want to retile the bathroom, get your hammer and start removing the old tile.  Renters of apartments don't have the ability to change these things, and nor would they want to.  Why improve someone else's investment.  With a condo, like a home, you're improving yours.  Word of caution, be careful of over improvement.  When putting money into a condo there are improvements that will provide a return on investment, and some things you may just want to do for yourself.  If you're looking for a return on the improvements made contact a Realtor on The Perna Team and we'd be more than happy to help sort the value adding improvements from those that won't.

5) Social Advantages

Many of the Novi condo's for sale are in complexes that have social functions beyond the board meeting.  

 

Cons to Novi Condo's for sale

1) Privacy

If you're coming from a house, Novi condos for sale may feel a little bit tight & take a little getting used to.  Before if you had a large yard to walk or the privacy of the woods that may no longer be the case.  Many of the condos for sale in Novi MI were built to maximize privacy, however even the best built duplex style condos are still attached to each other. 

2) Rules

Though made to preserve the integrity of the aesthetics, it also means one can't paint the exterior Neon Green.  The upside is how the condo complex looks now is likely to be how it will always look.  No broken down cars on the lawn, crazy colors or deferred maintenance.  Again the downside is some complexes go as far as to restrict pet size and count, leasing of units and more.  Be sure to read and read again the bylaws of any condo complex before buying.

3) Parking

There are two potential issues with parking.  Condos for sale in Novi MI with smaller units and no garages may have extremely limited parking with only one or two assigned spaces and only 10-15 visitor spaces per 24 units.  Larger units with garages often have regulations against overnight parking in the street.  This may pose a problem for families with more than two vehicles.  If there's a live at home teen or several teens they may have to do the re-park shuffle every morning to maneuver cars in and out.

There are a wide range of condo's for sale in Novi MI with 2014 sales falling between $49,000 and $580,000.  Below is a report of the 2014 condos for sale in Novi MI sold report.  For a detailed analysis of any specific complex please don't hesitate to contact Michael Perna anytime, and as always there is no obligation to purchase or sell.  In 2014 the average sales price for condos in Novi MI averaged $158,705 with the average time on market at 37 days.  There's currently 3.4 months of inventory constituting a sellers market still, though that's higher today then in the middle of 2014's low of just 3 weeks.  This means that if there are no new condos for sale in Novi MI that come to market at this moment it will take 3.4 months to sell each and every one that is currently on the market.  Lastly, the sales price per square foot on condos for sale in Novi mi has risen from just over $100 per square foot (a 1500 square foot condo would sell for roughly $154,000) to $122 per square foot moving that same condo price up to $183,000.  We do see that this increase happened in the first two quarters of 2014 and the appreciation of condos for sale in Novi MI has slowed considerably in quarters three and four.

New Condos for Sale in Novi MI Alerts!

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IDX provided courtesy of Realcomp II Ltd., via Keller Williams Realty, Copyright 2020 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.