$4,513 Closing Credit*
$380,000
1,752 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Real Broker, LLC
Is Somerset, WI 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 Seller'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, WI
How much do homes in Somerset, WI cost?
Median Sold Price
$380,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$7,500(+2.0%)
Key Takeaway
Homes in Somerset have sold for 2% more than they did a year ago.
Summary: The median home sold price in Somerset was $380,000 in November 2024, up 2% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $375K | - | N/A |
| 2 Bedrooms | $251K | $260K | +3.6% |
| 3 Bedrooms | $352.5K | $390.1K | +10.7% |
| 4 Bedrooms | $440K | $401.5K | -8.8% |
| 5+ Bedrooms | $419.9K | $425K | +1.2% |
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 3.6%, 3 bedroom homes increased by 10.7%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes increased by 1.2%.
Housing Supply in Somerset, WI
How many homes are available in Somerset, WI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 71 | 67 | -5.6% |
Summary: The Somerset real estate market had 67 homes for sale in November 2024, a 5.6% 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 | 12 | 10 | -16.7% |
| 3 Bedrooms | 33 | 30 | -9.1% |
| 4 Bedrooms | 22 | 21 | -4.5% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
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 decreased by 16.7%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was 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. 75% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Somerset in November 2024, up by 9.1% month-over-month. Of the 12 sold homes, 75% were sold under asking, 8% were sold at asking, and 17% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 58 Days | 66 Days | +12.4% |
Summary: Homes in Somerset had an average of 66 days on market in Nov 2024, up by 12.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Somerset has remained consistent over time.
Summary: During November 2024, 12 homes were sold in Somerset; 17% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
