$2,552 Closing Credit*
$214,900
1,980 SqFt
5 Beds
•3 Full Baths
Shannon Hopkins, Listing Office: HUNT Real Estate Corporation
Is Somerset, NY 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 Neutral 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, NY
How much do homes in Somerset, NY cost?
Median Sold Price
$245,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$66,500(+37.3%)
Key Takeaway
Homes in Somerset have sold for 37.3% more than they did a year ago.
Summary: The median home sold price in Somerset was $245,000 in November 2024, up 37.3% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $200K | N/A |
| 2 Bedrooms | $177.5K | $191K | +7.6% |
| 3 Bedrooms | $188.8K | $266K | +40.9% |
| 4 Bedrooms | $165K | - | N/A |
| 5+ Bedrooms | $161.9K | $245K | +51.3% |
Summary: Somerset 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 7.6%, 3 bedroom homes increased by 40.9%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 51.3%.
Median Sold Price Compared To Nearby Cities
| Yates | $142K | $225K | +58.5% |
| Somerset | $178.5K | $245K | +37.3% |
| Barker | $182K | $245K | +34.6% |
| Gasport | $230K | $267.5K | +16.3% |
Housing Supply in Somerset, NY
How many homes are available in Somerset, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Summary: The Somerset real estate market had 7 homes for sale in November 2024, a 12.5% decrease compared to 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 | 3 | 2 | -33.3% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
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 remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 0 | 1 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerset, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Somerset in November 2024, up by 100.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Somerset, NY
How long does it take to sell a home in Somerset, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 53 Days | 99 Days | +85.0% |
Summary: Homes in Somerset had an average of 99 days on market in Nov 2024, up by 85% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Somerset are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 1 homes were sold in Somerset; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
