Is Nelson Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Nelson Township has remained a Seller's Market.
Housing Prices in Nelson Township, MI
How much do homes in Nelson Township, MI cost?
Median Sold Price
$294,950
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Nelson Township was $294,950 in May 2024, up 13.4% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $300K | - | N/A |
2 Bedrooms | $141.7K | $180K | +27.0% |
3 Bedrooms | $255K | $281K | +10.2% |
4 Bedrooms | $285K | $335K | +17.5% |
5+ Bedrooms | $299K | $325K | +8.7% |
Summary: Nelson Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 17.5%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Cities
Sand Lake | $249.9K | $302.2K | +20.9% |
Nelson Township | $260K | $294.9K | +13.4% |
Courtland Township | $425K | $450K | +5.9% |
Pierson Township | $280K | $294.9K | +5.3% |
Cedar Springs | $284.5K | $295K | +3.7% |
Housing Supply in Nelson Township, MI
How many homes are available in Nelson Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 15 | +25.0% |
Summary: The Nelson Township real estate market had 15 homes for sale in May 2024, a 25.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 9 | 10 | +11.1% |
4 Bedrooms | 0 | 2 | +100.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Nelson Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 3 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Nelson Township in May 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Nelson Township, MI
How long does it take to sell a home in Nelson Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
69 Days | 18 Days | -74.1% |
Summary: Homes in Nelson Township had an average of 18 days on market in May 2024, down by 74.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Nelson Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.