$2,494 Closing Credit*
$210,000
1,152 SqFt
4 Beds
•2 Full Baths
Listing Office: A.H. Sothebys Int. Realty
Is Somerville, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$281,500
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$1,000(-0.4%)
Key Takeaway
The sold price of homes in Somerville has remained the same since last year.
Summary: The median home sold price in Somerville was $281,500 in October 2024, down 0.4% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $187.5K | $192.4K | +2.6% |
| 3 Bedrooms | $271.5K | $265K | -2.4% |
| 4 Bedrooms | $399.5K | $369.8K | -7.4% |
| 5+ Bedrooms | $625K | - | N/A |
Summary: Somerville housing prices by bedroom type for October 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 decreased by 7.4%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 13 | -18.8% |
Summary: The Somerville real estate market had 13 homes for sale in October 2024, a 18.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 8 | 6 | -25.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Somerville housing inventory by bedroom type for October 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 25%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was 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 October 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Somerville, AL
We’re sorry, we don't have information for this market at the moment
