Is Nelson County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Nelson County is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Nelson County was a Seller's Market.

Key Takeaway

Nelson County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Nelson County, VA

How much do homes in Nelson County, VA cost?

Median Sold Price

$480,000

$222/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$80,000(+20.0%)

Key Takeaway

Homes in Nelson County have sold for 20% more than they did a year ago.

Summary: The median home sold price in Nelson County was $480,000 in May 2024, up 20% from last year, and the median price per square foot was $222.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $145K$157.5K
+8.6%
2 $250K$247.5K
-1.0%
3 $333.7K$480.2K
+43.9%
4 $510K$550K
+7.8%
5+ $1.0M$925K
-7.5%

Summary: Nelson County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.6%, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 43.9%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 7.5%.

Median Sold Price Compared To Nearby Counties

Nelson County
+20.0%
Amherst County
+10.9%

Housing Supply in Nelson County, VA

How many homes are available in Nelson County, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
107127+18.7%

Summary: The Nelson County real estate market had 127 homes for sale in May 2024, a 18.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 34
+33.3%
2 2223
+4.5%
3 4148
+17.1%
4 2131
+47.6%
5+ 2021
+5.0%

Summary: The Nelson County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 47.6%, and 5+ bedroom homes increased by 5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2415-37.5%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

5 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 County, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Nelson County in May 2024, down by 37.5% month-over-month. Of the 14 sold homes, 50% were sold under asking, 36% were sold at asking, and 14% were sold over asking.

Days on Market for Nelson County, VA

How long does it take to sell a home in Nelson County, VA?

Average Sale Time

May 2023May 2024CHANGE
32 Days52 Days+60.9%

Summary: Homes in Nelson County had an average of 52 days on market in May 2024, up by 60.9% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 15 homes were sold in Nelson County; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% 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 1 Day Ago

Newest Listings in Nelson County, VA

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