I analyzed the last six months of residential sales in South Lyon. The dataset includes 20 closed sales, along with active and pending listings, giving a good picture of where the market stands today.

South Lyon 6-Month Market Snapshot

Closed Sales: 20
Average Sold Price: $501,638
Median Sold Price: $515,000
Average Original List Price: $506,642
Average Sale-to-Original List Price: 99.2%
Median Sale-to-List Price: 100%
Average Price Per Square Foot: $226.04
Median Days on Market: 28.5 Days
Average Days on Market: 81.8 Days

Five Major Takeaways

1. Sellers Are Still Receiving Excellent Prices

The biggest headline is that sellers are averaging 99.2% of their original asking price, and half of all homes sold for 100% of list price or better.

That tells us:

• Buyers continue to pay strong prices for desirable homes.

• Proper pricing is still being rewarded.

• South Lyon remains one of the stronger markets in western Oakland County.

2. The Median Market Time Tells the Real Story

At first glance, the average Days on Market appears high at 82 days.

However...

The median is only 29 days.

That difference is important.

Several listings remained on the market for many months (one exceeded 470 days), pulling the average upward.

The typical seller is actually selling in about one month.

Bart's Take

I would focus clients on the median, not the average.

It paints a much more accurate picture of today's market.

3. Pricing Strategy Has Never Been More Important

One of the biggest patterns in the data is the split between:

• Homes selling almost immediately

• Homes sitting for several months

The market is rewarding:

• Correct pricing

• Updated condition

• Strong photography

• Professional marketing

Homes that missed on price generally became stale.

4. The Move-Up Market Is Active

The median sale price of $515,000 tells us much of the activity is occurring in the move-up segment rather than strictly entry-level housing.

This suggests:

• Existing homeowners are still moving.

• Buyers remain confident in higher price points.

• Financing is available for qualified purchasers.

5. Buyers Have Become More Selective

Unlike the frenzy market of 2021–2022, buyers today are taking more time.

Instead of purchasing the first available home, they're comparing:

• Condition

• Updates

• Location

• Value

• Price per square foot

That doesn't mean demand has disappeared—it means expectations have risen.

Additional Market Trends

Price Per Square Foot Continues to Rise

The average sold price of $226 per square foot reflects continued strength in home values.

Updated homes consistently commanded the highest values.

Negotiation Isn't Dead

Although sellers averaged nearly full asking price, there was a wide range:

• Some homes sold 17% above asking price due to multiple offers.

• Others sold approximately 11% below asking price after extended market exposure.

The lesson?

Every listing has its own market.

Pricing and preparation determine where your home falls on that spectrum.

What This Means for Sellers

If you're selling in South Lyon today:

• Don't chase the market with a high initial price.

• Invest in presentation before listing.

• Expect strong results if your home is priced correctly.

• The first 2–3 weeks remain the most important marketing window.

What This Means for Buyers

Buyers have opportunities, but they need to recognize value quickly.

The best homes are still selling near asking price or above, while homes that linger often present negotiation opportunities.

Working with an experienced local REALTOR® can help identify which homes are appropriately priced and which may offer room to negotiate.

Bart's Market Conclusion

After reviewing the past six months of sales, I'd describe the South Lyon market as healthy, balanced, and increasingly strategy-driven.

We're no longer seeing a market where every home sells in a weekend regardless of price. Buyers are more informed, inventory has improved, and pricing discipline matters more than ever.

The encouraging news for sellers is that well-prepared homes are still achieving outstanding results—nearly 99% of their asking price on average. For buyers, the market offers more choice and a better opportunity to make thoughtful decisions without the extreme pressure we've seen in recent years.

The Statistic I'd Highlight

Homes sold for an average of 99.2% of their original list price over the past six months.

That single number tells the story: buyers are still willing to pay for value, but they're no longer willing to overpay for every home.