Knowledge Base

How have foreclosures affected the Novi real estate market?

Although Novi is not immune from the effects of foreclosures, their impact has not been as severe as many other communities in the metro area. During 2011, less than 200 Novi properties were involved in the foreclosure process. That’s about half of the number in Farmington Hills and less than a quarter of those in Southfield. Oakland County reports almost 8,500 foreclosure related transactions in the past year. Therefore, Novi has less than 2% of all foreclosures in Oakland County.
Updated 12/20/2012 10:12 AM
Was this page helpful? Yes No
Thanks for your feedback!