$4,394 Closing Credit*
$370,000
2,512 SqFt
4 Beds
•2 Full Baths
Listing Office: Real Broker LLC
Is Somerville, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Somerville was a Seller's Market.
Key Takeaway
Somerville is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Somerville, AL
How much do homes in Somerville, AL cost?
Median Sold Price
$284,400
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$4,400(+1.6%)
Key Takeaway
Homes in Somerville have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in Somerville was $284,400 in November 2024, up 1.6% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $187.5K | $192.4K | +2.6% |
| 3 Bedrooms | $271.5K | $265K | -2.4% |
| 4 Bedrooms | $380K | $414.9K | +9.2% |
| 5+ Bedrooms | $625K | $335K | -46.4% |
Summary: Somerville 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 increased by 2.6%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes decreased by 46.4%.
Housing Supply in Somerville, AL
How many homes are available in Somerville, AL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Summary: The Somerville real estate market had 13 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Somerville 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 16.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerville, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Somerville in November 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Somerville, AL
We’re sorry, we don't have information for this market at the moment
