$1,544 Closing Credit*
$130,000
1,700 SqFt
4 Beds
•2 Full Baths
Alexander McKenzie, Listing Office: Long & Foster Real Estate, Inc.
Is Somerset County, MD 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, Somerset County was a Seller's Market.
Key Takeaway
Somerset County 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 County, MD
How much do homes in Somerset County, MD cost?
Median Sold Price
$200,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$6,250(+3.2%)
Key Takeaway
Homes in Somerset County have sold for 3.2% more than they did a year ago.
Summary: The median home sold price in Somerset County was $200,000 in November 2024, up 3.2% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75K | $86.2K | +15.0% |
| 2 Bedrooms | $119K | $134.9K | +13.4% |
| 3 Bedrooms | $209.9K | $215K | +2.4% |
| 4 Bedrooms | $201.5K | $242.4K | +20.3% |
| 5+ Bedrooms | $245K | $390K | +59.2% |
Summary: Somerset County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15%, 2 bedroom homes increased by 13.4%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes increased by 59.2%.
Median Sold Price Compared To Nearby Counties
| Wicomico County | $253.8K | $264.9K | +4.4% |
| Somerset County | $193.7K | $200K | +3.2% |
| Worcester County | $424.4K | $425.2K | 0.2% |
Housing Supply in Somerset County, MD
How many homes are available in Somerset County, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 134 | 141 | +5.2% |
Summary: The Somerset County real estate market had 141 homes for sale in November 2024, a 5.2% increase 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 | 14 | 15 | +7.1% |
| 3 Bedrooms | 88 | 94 | +6.8% |
| 4 Bedrooms | 22 | 21 | -4.5% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Somerset County 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 increased by 7.1%, 3 bedroom homes increased by 6.8%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 21 | +110.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Somerset County, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Somerset County in November 2024, up by 110.0% month-over-month. Of the 21 sold homes, 67% were sold under asking, 29% were sold at asking, and 5% were sold over asking.
Days on Market for Somerset County, MD
How long does it take to sell a home in Somerset County, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 72 Days | 66 Days | -7.7% |
Summary: Homes in Somerset County had an average of 66 days on market in Nov 2024, down by 7.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Somerset County are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 21 homes were sold in Somerset County; 48% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
