$4,986 Closing Credit*
$419,900
1,340 SqFt
3 Beds
•1 Full Bath
#73320905, Dawn Rusin, Listing Office: Lamacchia Realty, Inc.
Is Somerset, MA 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, Somerset has remained a Seller's Market.
Key Takeaway
Somerset is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Somerset, MA
How much do homes in Somerset, MA cost?
Median Sold Price
$472,500
$319/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$26,500(+5.9%)
Key Takeaway
Homes in Somerset have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Somerset was $472,500 in November 2024, up 5.9% from last year, and the median price per square foot was $319.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282.5K | $365K | +29.2% |
| 2 Bedrooms | $365K | $402K | +10.1% |
| 3 Bedrooms | $430K | $460K | +7.0% |
| 4 Bedrooms | $525K | $552.5K | +5.2% |
| 5+ Bedrooms | $510K | $605K | +18.6% |
Summary: Somerset housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.2%, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 18.6%.
Median Sold Price Compared To Nearby Cities
| Fall River | $423.2K | $480K | +13.4% |
| Dighton | $488K | $522.5K | +7.1% |
| Somerset | $446K | $472.5K | +5.9% |
| Swansea | $439.4K | $465.5K | +5.9% |
| Assonet | $570K | $511.5K | -10.3% |
Housing Supply in Somerset, MA
How many homes are available in Somerset, MA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 55 | 53 | -3.6% |
Summary: The Somerset real estate market had 53 homes for sale in November 2024, a 3.6% 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 | 8 | 5 | -37.5% |
| 3 Bedrooms | 33 | 35 | +6.1% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Somerset 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 decreased by 37.5%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 19 | +111.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerset, you may be able to get a good deal. 47.4% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Somerset in November 2024, up by 111.1% month-over-month. Of the 19 sold homes, 47% were sold under asking, 26% were sold at asking, and 26% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 45 Days | 37 Days | -17.3% |
Summary: Homes in Somerset had an average of 37 days on market in Nov 2024, down by 17.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 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 November 2024, 19 homes were sold in Somerset; 58% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
