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South Lyon Real Estate Market
Current home prices, inventory, days on market and local housing trends for South Lyon and Lyon Township, with context from the broader Metro Detroit market.
South Lyon is not one uniform real estate market. The City of South Lyon and Lyon Township have different housing choices and price ranges. Neighborhood, property type, condition and current competition matter when deciding what a home is worth.
South Lyon Market at a Glance
Compare the City of South Lyon, Lyon Township and Metro Detroit separately. Just nine residential homes closed in South Lyon in September, versus 33 in Lyon Township. Those different sample sizes matter when interpreting monthly price changes.
| Residential Metric | South Lyon | Lyon Township | Metro Detroit |
|---|---|---|---|
| Median Sale Price | $375,000 (-36.4%) | $625,000 (+18.1%) | $310,000 (+5.1%) |
| Days on Market | 18 (+12.5%) | 32 (+18.5%) | 28 (0.0%) |
| Percent of List Price Received | 101.7% (+0.9%) | 99.3% (-1.6%) | 99.0% (+0.1%) |
| Months of Inventory | 2.1 (-30.0%) | 2.8 (+64.7%) | 3.2 (+10.3%) |
| Homes for Sale | 21 (-41.7%) | 61 (+79.4%) | 10,410 (+11.4%) |
| New Listings | 11 (-54.2%) | 33 (+120.0%) | 5,444 (-4.2%) |
| Pending Sales | 7 (-63.2%) | 24 (+166.7%) | 3,024 (-12.3%) |
| Closed Sales | 9 (-47.1%) | 33 (+83.3%) | 3,245 (-9.2%) |
Source for all market statistics: Realcomp II Ltd., South Lyon, Lyon Twp and Metro Detroit Local Market Updates, September 2026; current as of October 7, 2026. Metro Detroit includes Livingston, Macomb, Oakland and Wayne counties. Parentheses show Realcomp’s year-over-year percentage changes for the corresponding month or year-to-date period. Changes to percentages received are shown as reported relative changes, not percentage-point differences. Price and list-price-received figures do not account for sale concessions or downpayment assistance. Small transaction samples can cause large changes in reported medians.
What the Numbers Mean
September’s Realcomp reports show why the City of South Lyon and Lyon Township should not be described as one uniform housing market.
South Lyon’s residential median sale price was $375,000, down 36.4% from September 2025, based on just nine closings compared with 17 a year earlier. That is a change in the median price of homes sold, not proof that individual South Lyon homes lost over a third of their value. Lyon Township recorded 33 closings and a $625,000 median, up 18.1% year over year.
Homes sold in 18 days on average in South Lyon and 32 days in Lyon Township, compared with 28 days across Metro Detroit. Sellers received 101.7% of list price in the city and 99.3% in the township. These averages describe closed sales and do not guarantee the same outcome for any individual property.
Available inventory was down 41.7% in South Lyon to 21 residential homes, with 2.1 months of supply. Lyon Township had 61 homes for sale, up 79.4%, with 2.8 months of supply. Metro Detroit had 3.2 months of inventory. Despite the township’s increase in competition, its September pending and closed sales were also higher than a year earlier.
Market Trends Through September
January through September provides a broader view than one month. South Lyon recorded 88 residential closings, down 23.5% from the same period in 2025, while Lyon Township recorded 202, up 4.7%. New listings totaled 138 in the city (-26.2%) and 342 in the township (+35.7%); pending sales were 93 (-23.8%) and 213 (+12.7%), respectively. Across Metro Detroit, 47,165 homes were listed (+3.4%) and 30,176 went pending (-0.2%).
| Residential Metric | South Lyon YTD | Lyon Township YTD | Metro Detroit YTD |
|---|---|---|---|
| Median Sale Price | $445,000 (-16.8%) | $645,000 (+5.7%) | $300,350 (+3.6%) |
| Average Sale Price | $472,320 (-10.8%) | $662,805 (+5.8%) | $368,919 (+4.0%) |
| Closed Sales | 88 (-23.5%) | 202 (+4.7%) | 28,896 (-1.5%) |
| Days on Market | 37 (+94.7%) | 23 (-8.0%) | 31 (+6.9%) |
| Percent of List Price Received | 100.4% (-0.5%) | 100.0% (-0.5%) | 99.3% (-0.1%) |
A Three-Year Perspective on South Lyon's Housing Market
Looking at the September 2026 results alongside Realcomp's historical trends helps explain why the City of South Lyon and Lyon Township should be analyzed separately. Both markets have experienced changes in inventory and the mix of homes selling, but those changes have not followed identical patterns.
In the City of South Lyon, September's residential inventory was 2.1 months according to Realcomp's Local Market Update, down from 3.0 months a year earlier. Despite tighter available supply, the city recorded fewer closed sales, and its year-to-date median sale price was lower than in 2025. With only nine residential closings in September, the monthly median alone is not enough to establish a trend in individual home values.
Lyon Township moved differently. September residential supply increased to 2.8 months from 1.7 a year earlier, while pending sales, closings and new listings all increased. Its year-to-date median sale price was $645,000, up 5.7% from the same period in 2025. More choices for buyers have not meant that demand disappeared; both supply and transaction activity expanded.
Sources: Realcomp Matrix STATS, South Lyon and Lyon Township Residential 3-Year Trends (historical context); Realcomp Local Market Updates, September 2026 (quoted monthly and year-to-date statistics). The custom STATS charts and Local Market Updates use different filters and calculations, so their inventory figures are not interchangeable.
South Lyon and Lyon Township Condo Market
Condominiums require separate analysis from residential homes. The year-to-date figures below are generally more informative than September’s 16 South Lyon condo closings and three Lyon Township condo closings, although the township’s 31-sale year-to-date sample remains modest.
| 2026 YTD Condo Metric | South Lyon | Lyon Township | Metro Detroit |
|---|---|---|---|
| Median Sale Price | $163,000 (-3.6%) | $433,000 (+54.6%) | $258,675 (+3.5%) |
| Average Sale Price | $208,061 (+9.9%) | $359,771 (+45.9%) | $294,736 (+4.3%) |
| Closed Sales | 88 (+3.5%) | 31 (+106.7%) | 5,827 (+1.6%) |
| Days on Market | 49 (+53.1%) | 63 (+80.0%) | 40 (+17.6%) |
| Percent of List Price Received | 96.9% (-0.7%) | 97.6% (0.0%) | 98.3% (-0.5%) |
In September, South Lyon condos had a $149,000 median sale price (-2.0%), 46 days on market and 96.7% of list price received. There were 30 available condos (+11.1%) and 3.0 months of supply. Lyon Township had only three condo closings, a $239,000 monthly median, 95 days on market and 95.9% of list price received; 15 available condos represented 3.5 months of supply. Metro Detroit’s condo median was $265,000 (+1.9%), with 38 days on market, 649 closings and 3.9 months of supply.
What South Lyon Sellers Should Know
Lyon Township’s higher residential inventory makes current competing listings important when pricing and preparing a home. South Lyon’s smaller supply does not guarantee a quick sale: its year-to-date average selling time reached 37 days. Condo sellers face another set of conditions, with city condos averaging 49 days on market year to date.
When I evaluate a South Lyon or Lyon Township home before listing, I focus on the properties buyers will actually compare with it and the preparation that will help it show clearly and confidently.
- Recent neighborhood sales with similar property type and features
- Current competing listings, including new construction where relevant
- Pending sales when useful information is available
- Condition, updates, needed repairs and presentation
- Municipality, location, lot, garage, basement and functional differences
- Buyer activity and time on market within the specific price range
The goal is a price and presentation that make sense together. A citywide median cannot tell us whether your home is positioned well against its closest competition.
In a separate Realcomp MLS analysis of 1,185 closed resale home sales across South Lyon, Lyon Township and nearby communities, 81.2% of homes that sold within 10 cumulative days on market achieved or exceeded their first asking price. Among homes that took longer, 19.6% did.
These results describe the combined study area, not South Lyon or Lyon Township individually. They show a relationship between market time and selling-price outcomes, not a deadline to sell or reduce the price after 10 days.
Read the local first 10 days market study to understand how early buyer response can help guide a pricing decision.
Thinking About Selling a South Lyon Home?
Let's talk through pricing, preparation, marketing and negotiation for your South Lyon or Lyon Township property.
What South Lyon Buyers Should Know
More township residential inventory can provide more choices, but it does not establish negotiating room on every listing. The city's residential and condo supply figures also differ substantially. Start with the municipality, neighborhood and property type, then evaluate the home's direct competition.
Price Range Matters
The year-to-date residential medians were $445,000 in South Lyon and $645,000 in Lyon Township. These represent different mixes of homes sold, not price targets for an individual listing.
Condition Matters
Compare updates, needed repairs and overall condition alongside price. An attractive asking price may come with work that affects your budget and timing.
Location Matters
Downtown proximity, subdivision, lot characteristics and municipality help determine the right comparable sales. Condos also require a community-specific comparison.
Timing Matters
A new listing with strong showing activity may require a different offer strategy from a home that has been available for weeks. Review price changes and current alternatives before deciding.
What Are South Lyon Homes Worth?
A useful valuation starts with comparable properties in the appropriate South Lyon or Lyon Township market. Size, condition, updates, location, lot, layout and price range all affect which sales are relevant.
Automated estimates and broad averages cannot fully account for these differences. I weigh recent comparable sales against current competition to explain a realistic range and the factors that support it.
Recently Sold Homes
These show what buyers paid for comparable properties, with attention to differences in condition, updates, location, lot and features.
Current Competition
These show the choices buyers have now and where your property would fit within its neighborhood, property type and price range.
What Could Your South Lyon Home Sell For?
A property-specific market analysis connects the broader numbers to your home, your competition and your plans.
Request a Personalized Home ValueSouth Lyon and Lyon Township Can Behave Differently
People commonly use “South Lyon” to describe the broader area. The City of South Lyon and Lyon Township are separate municipalities, with different mixes of neighborhoods, housing stock, lot characteristics, new construction, condominium communities and price ranges.
City of South Lyon
The city includes downtown-area homes, established neighborhoods and condominium communities. Its year-to-date residential median was $445,000 and condo median was $163,000. These are separate property markets.
Lyon Township
The township includes newer construction, established subdivisions and condominium communities with varied lots and settings. Its year-to-date residential median was $645,000 and condo median was $433,000, based on different sales mixes.
These reports support keeping the municipalities separate rather than creating a single blended median. They do not isolate how much of the difference comes from home size, age, condition, new construction or a particular neighborhood. That requires property-level comparable sales.
A Recent South Lyon Area Real Estate Result
Carriage Trace Home
Listed at $699,900
Sold for $718,000
Three offers
Strategy Matters More Than a Headline Number
This Jeff Duneske Real Estate result reflects one property's outcome. It does not mean every South Lyon area home will sell above asking or receive multiple offers. Pricing, preparation and the competition surrounding a specific property still deserve their own analysis.
South Lyon Real Estate Market FAQs
Is South Lyon a buyer's market or a seller's market?
September residential supply was 2.1 months in South Lyon and 2.8 months in Lyon Township. City condos had 3.0 months of supply, while township condos had 3.5. A single market label overlooks differences by property type, condition, price range and neighborhood.
What is the median home price in South Lyon?
September 2026 residential median sale prices were $375,000 in the City of South Lyon and $625,000 in Lyon Township. Through September, year-to-date medians were $445,000 and $645,000, respectively. The city’s monthly median reflects only nine closings.
How does South Lyon compare with Metro Detroit?
Metro Detroit’s September residential median sale price was $310,000, compared with $375,000 in South Lyon and $625,000 in Lyon Township. Homes averaged 28 days on market regionally, versus 18 in the city and 32 in the township. Different housing mixes limit direct comparisons.
How are South Lyon and Lyon Township condos performing?
Through September 2026, South Lyon’s condo median was $163,000, down 3.6% year over year, with 88 closings and 49 days on market. Lyon Township’s condo median was $433,000, up 54.6%, with 31 closings and 63 days on market. Sales mixes and small local samples require caution.
Did South Lyon home values fall 36.4% in September?
Not necessarily. The City of South Lyon had just nine residential closings in September 2026. Its monthly median sale price was down 36.4% from September 2025, but the year-to-date median was down 16.8%. These changes compare different groups of sold homes, not the value of the same properties.
Why separate the City of South Lyon from Lyon Township?
These are separate municipalities with different mixes of homes and price ranges. In September, South Lyon had 21 residential homes for sale, down 41.7% year over year, while Lyon Township had 61, up 79.4%. Combining the two would conceal important differences in inventory and demand.
Market Guidance From Jeff Duneske
I've worked in Metro Detroit real estate since 2000 and have lived in the South Lyon area since 2013. Helping buyers and sellers here means understanding the differences between the city, township, neighborhoods and individual homes.
My role is to help you connect market statistics with your property and your plans, whether you're buying your first home, moving up, downsizing or preparing to sell a long-held home.
If you're considering a move, I'm happy to review the comparable sales, explain your options and help you decide on a comfortable next step.
No pressure. Just clarity.
Wondering What the South Lyon Market Means for You?
Whether you're considering selling, buying, downsizing or simply trying to understand what your home may be worth, I can help you evaluate the South Lyon or Lyon Township market and what makes sense for your situation.