South Lyon, MI Real Estate Market

Sellers in South Lyon are in a strong position, with the median sale price of $599,900 significantly exceeding the median list price of $469,990, suggesting buyers are regularly pushing offers well beyond asking price. With homes selling in a median of just 20 days, well-priced properties are attracting serious buyer interest quickly.

Buyers entering the South Lyon market should be prepared to move decisively, as the 20-day median days on market signals a competitive and fast-moving environment. The gap between the median list price of $469,990 and the median sale price of $599,900 indicates that offers well above list price have become a common outcome in this zip code.

With a median rent of $1,900 and a median sale price of $599,900, investors should carefully model cash flow expectations since gross yields will be modest at this price point. The rental inventory of just 26 units is extremely tight, which supports strong rental demand and gives landlords meaningful pricing leverage across bedroom types ranging from $1,039 for 1-bedrooms up to $3,700 for 4-bedrooms.

The current 30-year fixed mortgage rate of 6.37% means buyers financing a home at the median sale price of $599,900 will face a substantial monthly payment, making affordability a key consideration in purchase decisions. The 15-year fixed rate of 5.72% offers meaningful interest savings over the life of the loan and may appeal to move-up buyers or those prioritizing faster equity growth in this market.