Is Somerton, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Somerton is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Somerton has remained a Seller's Market.

Key Takeaway

Somerton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Somerton, PA

How much do homes in Somerton, PA cost?

Median Sold Price

$380,000

$250/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$17,500(+4.8%)

Key Takeaway

Homes in Somerton have sold for 4.8% more than they did a year ago.

Summary: The median home sold price in Somerton was $380,000 in October 2024, up 4.8% from last year, and the median price per square foot was $250.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $170K$172K
+1.2%
2 $255K$275K
+7.8%
3 $364K$380K
+4.4%
4 $432.5K$427.5K
-1.2%
5+ $430K$425K
-1.2%

Summary: Somerton housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.2%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 4.4%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes decreased by 1.2%.

Housing Supply in Somerton, PA

How many homes are available in Somerton, PA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7080+14.3%

Summary: The Somerton real estate market had 80 homes for sale in October 2024, a 14.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 13
+200.0%
2 68
+33.3%
3 4346
+7.0%
4 1721
+23.5%
5+ 32
-33.3%

Summary: The Somerton housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1621+31.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Somerton, expect to pay close to the asking price. 38.1% of homes here sold near the asking price last month.

Summary: A total of 21 homes were sold or pending in Somerton in October 2024, up by 31.3% month-over-month. Of the 21 sold homes, 33% were sold under asking, 38% were sold at asking, and 29% were sold over asking.

Days on Market for Somerton, PA

How long does it take to sell a home in Somerton, PA?

Average Sale Time

Oct 2023Oct 2024CHANGE
22 Days19 Days-12.8%

Summary: Homes in Somerton had an average of 19 days on market in Oct 2024, down by 12.8% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Somerton are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 21 homes were sold in Somerton; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in Somerton, PA

Nearby Markets to Somerton, PA