Is Somerville, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Somerville is a buyer's market

Buyer's
Market

Difference Since December 2023

At the same time last year, Somerville was a Seller's Market.

Key Takeaway

Somerville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Somerville, TX

How much do homes in Somerville, TX cost?

Median Sold Price

$228,000

$152/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$17,000(+8.1%)

Key Takeaway

Homes in Somerville have sold for 8.1% more than they did a year ago.

Summary: The median home sold price in Somerville was $228,000 in December 2024, up 8.1% from last year, and the median price per square foot was $152.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $82.5K$137.5K
+66.7%
2 $202.5K$201.5K
-0.5%
3 $240K$274K
+14.2%
4 $195K$265K
+35.9%
5+ -$205K
N/A

Summary: Somerville housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 66.7%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 14.2%, 4 bedroom homes increased by 35.9%, and 5+ bedroom homes did not change.

Housing Supply in Somerville, TX

How many homes are available in Somerville, TX?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
3231-3.1%

Summary: The Somerville real estate market had 31 homes for sale in December 2024, a 3.1% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 65
-16.7%
2 65
-16.7%
3 1719
+11.8%
4 32
-33.3%
5+ 00
0.0%

Summary: The Somerville housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 11.8%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
54-20.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Somerville, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Somerville in December 2024, down by 20.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Somerville, TX

How long does it take to sell a home in Somerville, TX?

Average Sale Time

Dec 2023Dec 2024CHANGE
134 Days44 Days-67.0%

Summary: Homes in Somerville had an average of 44 days on market in Dec 2024, down by 67% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 4 homes were sold in Somerville; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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 4 Days Ago

Newest Listings in Somerville, TX

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