Is Nelson Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Nelson Township was a Neutral 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
$299,000
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Nelson Township have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in Nelson Township was $299,000 in June 2024, up 9.7% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | - | N/A |
| 2 Bedrooms | $131.5K | $180K | +36.9% |
| 3 Bedrooms | $257.5K | $293K | +13.8% |
| 4 Bedrooms | $275K | $335K | +21.8% |
| 5+ Bedrooms | $299K | $392K | +31.1% |
Summary: Nelson Township housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 36.9%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 21.8%, and 5+ bedroom homes increased by 31.1%.
Median Sold Price Compared To Nearby Cities
| Sand Lake | $249.9K | $305K | +22.0% |
| Pierson Township | $255.7K | $305K | +19.3% |
| Nelson Township | $272.5K | $299K | +9.7% |
| Courtland Township | $415K | $450K | +8.4% |
| Cedar Springs | $285K | $299.4K | +5.1% |
Housing Supply in Nelson Township, MI
How many homes are available in Nelson Township, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Summary: The Nelson Township real estate market had 14 homes for sale in June 2024, a 12.5% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Nelson Township housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Nelson Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Nelson Township in June 2024, up by 166.7% month-over-month. Of the 8 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.
Days on Market for Nelson Township, MI
How long does it take to sell a home in Nelson Township, MI?
Breakdown of Home Sale Times
7 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 June 2024, 8 homes were sold in Nelson Township; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
