Is Nelson Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Nelson Township has remained a Seller's Market.
Key Takeaway
Nelson Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Nelson Township, MI
How much do homes in Nelson Township, MI cost?
Median Sold Price
$296,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Nelson Township have sold for 18.4% more than they did a year ago.
Summary: The median home sold price in Nelson Township was $296,000 in March 2024, up 18.4% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $95K | $300K | +215.8% |
| 2 Bedrooms | $152K | $180K | +18.4% |
| 3 Bedrooms | $226.5K | $285.5K | +26.0% |
| 4 Bedrooms | $299K | $312.5K | +4.5% |
| 5+ Bedrooms | $359.4K | $392K | +9.1% |
Summary: Nelson Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 215.8%, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 26%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 9.1%.
Median Sold Price Compared To Nearby Cities
| Sand Lake | $228K | $294K | +28.9% |
| Nelson Township | $250K | $296K | +18.4% |
| Cedar Springs | $275K | $299K | +8.7% |
| Courtland Township | $415K | $445K | +7.2% |
| Pierson Township | $280K | $297.4K | +6.2% |
Housing Supply in Nelson Township, MI
How many homes are available in Nelson Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 12 | +100.0% |
Summary: The Nelson Township real estate market had 12 homes for sale in March 2024, a 100.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 4 | 8 | +100.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Nelson Township housing inventory by bedroom type for March 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 100%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Nelson Township, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Nelson Township in March 2024, up by 300.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 74 Days | 12 Days | -83.9% |
Summary: Homes in Nelson Township had an average of 12 days on market in Mar 2024, down by 83.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Nelson Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Nelson Township; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
