Is Nelson Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Nelson Township is a seller's market

Buyer's
Market

Difference Since May 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

$294,950

$221/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$34,950(+13.4%)

Key Takeaway

Homes in Nelson Township have sold for 13.4% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $300K-
N/A
2 $141.7K$180K
+27.0%
3 $255K$281K
+10.2%
4 $285K$335K
+17.5%
5+ $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
+20.9%
Nelson Township
+13.4%
Courtland Township
+5.9%
Pierson Township
+5.3%
Cedar Springs
+3.7%

Housing Supply in Nelson Township, MI

How many homes are available in Nelson Township, MI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1215+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

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 910
+11.1%
4 02
+100.0%
5+ 33
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 2024May 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Nelson Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

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 2023May 2024CHANGE
69 Days18 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Nelson Township are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

Newest Listings in Nelson Township, MI

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