$2,589 Closing Credit*
$218,000
1,904 SqFt
4 Beds
•2 Full Baths
Charles W Malcomb, 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 Last Month
Last month, Somerset was a Buyer'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, NY
How much do homes in Somerset, NY cost?
Median Sold Price
$224,000
$153/sqft
Based on all homes sold in December 2024.
Difference Since Last Month
-$46,000(-17.0%)
Key Takeaway
Homes in Somerset have sold for 17% less than they did a month ago.
Summary: The median home sold price in Somerset was $224,000 in December 2024, down 17% from last month, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $295K | N/A |
| 3 Bedrooms | $270K | $166.5K | -38.3% |
| 4 Bedrooms | - | $220K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Somerset housing prices by bedroom type for December 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 38.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Somerset | $270K | $224K | -17.0% |
| Barker | $270K | $220K | -18.5% |
| Appleton | $330K | $224K | -32.1% |
Housing Supply in Somerset, NY
How many homes are available in Somerset, NY?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Summary: The Somerset real estate market had 9 homes for sale in December 2024, a 10.0% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Somerset housing inventory by bedroom type for December 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 increased by 100%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerset, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Somerset in December 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 99 Days | 14 Days | -85.1% |
Summary: Homes in Somerset had an average of 14 days on market in Dec 2024, down by 85.1% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 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 December 2024, 4 homes were sold in Somerset; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
