The prices in real estate in Novi, in the Michigan region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Novi has increased strongly during the last 6 months. In April, the average price per sq.feet was $199. In May this price pretty much remained the same at a value of $208 per sq.feet. The price for the following two months in (June, July) had a considerable increment of 1822 %. The price per sq.feet has had a considerable deflation of 64 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $1,955.75 to $1,257.5 during August, and September.
Based upon to the price in Novi (cities), this has gone up considerably in the last 6 months. The price in April is $491,973, rising in May till $524,586. During the following two months (June, July) the average price had a considerable increase of 1330 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $3,633,997 to $1,853,253, which means a 51 % fall.