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SOUTH LYON, MI 48178

Real Estate Market Report
Seller's Market
March 2026  ·  Source: Realtor.com

Market Analysis

Data as of March 2026. Source: Realtor.com.

The SOUTH LYON, MI real estate market (48178) currently shows 135 active listings, with 50 pending sales. Homes are averaging 31 days on the market before going under contract.

Inventory has tightened compared to last year, with 8 fewer active listings — creating more competition among buyers.

Homes are selling faster, averaging 31 days on market compared to 39 days last year.

The median listing price has fallen 20.7% year-over-year, from $587,450 to $465,790.

Whether you are buying or selling in SOUTH LYON, MI, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 36,842  ·  Density: 296.6/mi²  ·  Median household income: $127,052

Typical home value: $359,786  ·  Homeownership: 91.9%

Market Overview

Active Listings
135
⇩ 5.6% vs 143 last year
Pending
50
37% pending ratio
Median Price
$465,790
⇩ 20.7% vs $587,450 last year
Average Price
$523,851
⇩ 25.5% vs $702,688 last year
Days on Market
31
⇩ 20.5% vs 39 days last year

Price Per Square Foot

Median $/sqft
$220
⇩ 3.5% vs $228/sqft last year
Median Home Size
1,840 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 135 this year vs 143 last year
  • Days on market: 31 now vs 39 last year

Median & Average Pricing

Year over Year
  • Median: $465,790 (-20.7% YoY)
  • Average: $523,851 (-25.5% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 14.2 miles — 781 listings ($426,619,957 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
48178South Lyon, MI 481780.0 mi124$68,059,756$472,040$548,869
48189Whitmore Lake, MI 481896.5 mi31$16,900,611$451,344$545,181
48168Northville, MI 481686.9 mi62$55,058,170$600,000$888,035
48139Hamburg, MI 481397.4 mi1$734,000$734,000$734,000
48393Wixom, MI 483938.0 mi38$15,597,518$360,000$410,461
48170Plymouth, MI 481708.6 mi87$63,318,426$524,950$727,798
48380Milford, MI 483809.3 mi11$10,358,854$738,749$941,714
48375Novi, MI 4837510.3 mi45$18,868,185$453,750$419,293
48187Canton, MI 4818712.0 mi73$34,056,909$389,805$466,533
48198Ypsilanti, MI 4819812.3 mi93$25,844,514$227,500$277,898
48382Commerce Township, MI 4838212.8 mi72$52,358,040$649,500$727,195
48331Farmington, MI 4833113.6 mi42$20,076,504$429,472$478,012
48188Canton, MI 4818814.2 mi102$45,388,470$412,450$444,985

Frequently Asked Questions

How many homes are for sale in SOUTH LYON, MI 48178?

As of March 2026, there are 135 active listings in SOUTH LYON, MI (zip code 48178), compared to 143 the prior year.

What is the median home price in SOUTH LYON, MI 48178?

The median listing price in SOUTH LYON, MI 48178 is $465,790 as of March 2026, a 20.7% decrease from $587,450 the prior year.

How long do homes stay on the market in SOUTH LYON, MI?

Homes in SOUTH LYON, MI 48178 spend an average of 31 days on the market before going under contract, compared to 39 days the prior year.

Is it a seller's or buyer's market in SOUTH LYON, MI 48178?

Based on current inventory and days-on-market data as of March 2026, SOUTH LYON, MI 48178 is currently a Seller's Market. Inventory has tightened compared to last year, with 8 fewer active listings — creating more competition among buyers. Homes are selling faster, averaging 31 days on market compared to 39 days last year.

How much can I save on real estate commission in SOUTH LYON, MI?

With SELL123.com's maximum 3% commission, sellers in SOUTH LYON, MI 48178 save an estimated $9,316 compared to a typical 5% commission on the median listing price of $465,790. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.