$4,927 Closing Credit*
$414,900
2,691 SqFt
5 Beds
•1 Full Bath
#6644489, Elijah Janasz, Listing Office: Capstone Realty Wisconsin, Inc
Is Somerset, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
At the same time last year, Somerset was a Seller's Market.
Key Takeaway
Somerset is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Somerset, WI
How much do homes in Somerset, WI cost?
Median Sold Price
$377,450
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$2,450(+0.7%)
Key Takeaway
Homes in Somerset have sold for 0.7% more than they did a year ago.
Summary: The median home sold price in Somerset was $377,450 in December 2024, up 0.7% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $375K | - | N/A |
| 2 Bedrooms | $254.5K | $260K | +2.2% |
| 3 Bedrooms | $345K | $388K | +12.5% |
| 4 Bedrooms | $487.5K | $401.5K | -17.6% |
| 5+ Bedrooms | $422K | $425K | +0.7% |
Summary: Somerset housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 17.6%, and 5+ bedroom homes increased by 0.7%.
Housing Supply in Somerset, WI
How many homes are available in Somerset, WI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 65 | 60 | -7.7% |
Summary: The Somerset real estate market had 60 homes for sale in December 2024, a 7.7% 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 | 10 | 11 | +10.0% |
| 3 Bedrooms | 29 | 29 | 0.0% |
| 4 Bedrooms | 20 | 14 | -30.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
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 increased by 10%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 30%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 14 | 7 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerset, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Somerset in December 2024, down by 50.0% month-over-month. Of the 7 sold homes, 14% were sold under asking, 29% were sold at asking, and 57% were sold over asking.
Days on Market for Somerset, WI
How long does it take to sell a home in Somerset, WI?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 54 Days | 68 Days | +25.5% |
Summary: Homes in Somerset had an average of 68 days on market in Dec 2024, up by 25.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Somerset has remained consistent over time.
Summary: During December 2024, 7 homes were sold in Somerset; 14% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
