$2,731 Closing Credit*
$230,000
2,200 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Advantage Real Estate Na
Is Somerville, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Somerville has remained a Seller's Market.
Key Takeaway
Somerville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Somerville, AL
How much do homes in Somerville, AL cost?
Median Sold Price
$280,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
-$2,500(-0.9%)
Key Takeaway
Homes in Somerville have sold for 0.9% less than they did a year ago.
Summary: The median home sold price in Somerville was $280,000 in September 2024, down 0.9% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $250K | $192.4K | -23.0% |
| 3 Bedrooms | $271.5K | $250K | -7.9% |
| 4 Bedrooms | $380K | $369.8K | -2.7% |
| 5+ Bedrooms | $625K | - | N/A |
Summary: Somerville housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes did not change.
Housing Supply in Somerville, AL
How many homes are available in Somerville, AL?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 20 | 17 | -15.0% |
Summary: The Somerville real estate market had 17 homes for sale in September 2024, a 15.0% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Somerville housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerville, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Somerville in September 2024, the same as the previous month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Somerville, AL
We’re sorry, we don't have information for this market at the moment
