Is Somerset Condominiums, FL 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 Condominiums was a Buyer's Market.
Key Takeaway
Somerset Condominiums is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Somerset Condominiums, FL
How much do homes in Somerset Condominiums, FL cost?
Median Sold Price
$116,450
$140/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Somerset Condominiums have sold for 55.4% less than they did a month ago.
Summary: The median home sold price in Somerset Condominiums was $116,450 in April 2024, down 55.4% from last month, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $111.5K | N/A |
| 2 Bedrooms | $132K | $129.4K | -1.9% |
| 3 Bedrooms | $390K | - | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Somerset Condominiums housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.9%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Somerset Condominiums, FL
How many homes are available in Somerset Condominiums, FL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 27 | +12.5% |
Summary: The Somerset Condominiums real estate market had 27 homes for sale in April 2024, a 12.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 8 | +14.3% |
| 2 Bedrooms | 15 | 18 | +20.0% |
| 3 Bedrooms | 2 | 1 | -50.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Somerset Condominiums housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Somerset Condominiums, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Somerset Condominiums in April 2024, up by 100.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 75% were sold at asking, and 25% were sold over asking.
Days on Market for Somerset Condominiums, FL
How long does it take to sell a home in Somerset Condominiums, FL?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 70 Days | 59 Days | -15.7% |
Summary: Homes in Somerset Condominiums had an average of 59 days on market in Apr 2024, down by 15.7% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Somerset Condominiums are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in Somerset Condominiums; 50% 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.
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