$5,463 Closing Credit*
$460,000
1,624 SqFt
3 Beds
•1 Full Bath, 1 Partial
#73314460, Tyler Cote, Listing Office: Cote Partners Realty LLC
Is Somerset, MA 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, Somerset was a Seller's Market.
Key Takeaway
Somerset 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 Somerset, MA
How much do homes in Somerset, MA cost?
Median Sold Price
$462,500
$315/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$27,500(+6.3%)
Key Takeaway
Homes in Somerset have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Somerset was $462,500 in October 2024, up 6.3% from last year, and the median price per square foot was $315.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282.5K | $365K | +29.2% |
| 2 Bedrooms | $362K | $410K | +13.3% |
| 3 Bedrooms | $425K | $455.5K | +7.2% |
| 4 Bedrooms | $520K | $547.5K | +5.3% |
| 5+ Bedrooms | $512.5K | $602.5K | +17.6% |
Summary: Somerset housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.2%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 17.6%.
Median Sold Price Compared To Nearby Cities
| Fall River | $418.5K | $472.2K | +12.8% |
| Somerset | $435K | $462.5K | +6.3% |
| Swansea | $439.9K | $459K | +4.3% |
| Dighton | $508K | $511K | +0.6% |
| Assonet | $575.5K | $569.9K | -1.0% |
Housing Supply in Somerset, MA
How many homes are available in Somerset, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 49 | 54 | +10.2% |
Summary: The Somerset real estate market had 54 homes for sale in October 2024, a 10.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 8 | +33.3% |
| 3 Bedrooms | 31 | 31 | 0.0% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Somerset 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 increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 9 | -35.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerset, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Somerset in October 2024, down by 35.7% month-over-month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.
Days on Market for Somerset, MA
How long does it take to sell a home in Somerset, MA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 27 Days | -0.5% |
Summary: Homes in Somerset had an average of 27 days on market in Oct 2024, down by 0.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Somerset are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in Somerset; 56% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
