$1,722 Closing Credit*
$145,000
2,279 SqFt
4 Beds
•2 Full Baths
Amanda Patterson, Listing Office: Five Star Real Estate
Is Nelson, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Nelson has remained a Buyer's Market.
Key Takeaway
Nelson is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Nelson, MI
How much do homes in Nelson, MI cost?
Median Sold Price
$185,000
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$19,000(-9.3%)
Key Takeaway
Homes in Nelson have sold for 9.3% less than they did a year ago.
Summary: The median home sold price in Nelson was $185,000 in November 2024, down 9.3% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $178K | $166K | -6.7% |
| 3 Bedrooms | $224.9K | $171.2K | -23.9% |
| 4 Bedrooms | $184.9K | $199.9K | +8.1% |
| 5+ Bedrooms | $204K | $188.5K | -7.6% |
Summary: Nelson housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.7%, 3 bedroom homes decreased by 23.9%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes decreased by 7.6%.
Median Sold Price Compared To Nearby Neighborhoods
| McLaughlin | $125K | $136K | +8.8% |
| Nims | $154K | $154.9K | +0.6% |
| Nelson | $204K | $185K | -9.3% |
Housing Supply in Nelson, MI
How many homes are available in Nelson, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 32 | -8.6% |
Summary: The Nelson real estate market had 32 homes for sale in November 2024, a 8.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 25 | 20 | -20.0% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Nelson housing inventory by bedroom type for November 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 20%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 4 | -55.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Nelson, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Nelson in November 2024, down by 55.6% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 3 Days | 46 Days | +1228.6% |
Summary: Homes in Nelson had an average of 46 days on market in Nov 2024, up by 1228.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Nelson has remained consistent over time.
Summary: During November 2024, 4 homes were sold in Nelson; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.