Is Nelson, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Nelson was a Seller's Market.
Housing Prices in Nelson, MI
How much do homes in Nelson, MI cost?
Median Sold Price
$190,000
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Nelson was $190,000 in April 2024, up 20.3% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $125.5K | $200K | +59.4% |
3 Bedrooms | $137.7K | $173.7K | +26.2% |
4 Bedrooms | $170K | $210K | +23.5% |
5+ Bedrooms | $202K | $165K | -18.3% |
Summary: Nelson housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 59.4%, 3 bedroom homes increased by 26.2%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes decreased by 18.3%.
Median Sold Price Compared To Nearby Neighborhoods
Nelson | $158K | $190K | +20.3% |
McLaughlin | $122K | $133.4K | +9.4% |
Jackson Hill | $135.2K | $145K | +7.2% |
Nims | $150K | $155K | +3.3% |
Housing Supply in Nelson, MI
How many homes are available in Nelson, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 31 | -6.1% |
Summary: The Nelson real estate market had 31 homes for sale in April 2024, a 6.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 21 | 21 | 0.0% |
4 Bedrooms | 6 | 4 | -33.3% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Nelson housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7 | 4 | -42.9% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Nelson in April 2024, down by 42.9% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Nelson, MI
How long does it take to sell a home in Nelson, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
6 Days | 54 Days | +804.2% |
Summary: Homes in Nelson had an average of 54 days on market in Apr 2024, up by 804.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 4 homes were sold in Nelson; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.