Housing Prices
How much do homes in Somerset, MD cost?
Median List Price
$1,775,000
$620/sqft
Based on all homes listed in the last 12 months.
Difference Since August 2022
Key Takeaway
The list price of homes in Somerset has decreased by 40.5% since last year.
Summary: The median home list price in Somerset was $1,775,000 in August 2023, down 40.5% from the previous year, and the median price per square foot was $620.
Median List Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $1.1M | $1.3M | +19.3% |
| 4 Bedrooms | - | $1.5M | N/A |
| 5+ Bedrooms | $3.2M | $2.6M | -19.0% |
Summary: Somerset housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 19.3%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 19%.
Housing Supply
How many homes are available in Somerset, MD?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Summary: The Somerset real estate market had 3 homes for sale in August 2023, a 25.0% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 0 | 0 | 0.0% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Somerset housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Days on Market
How long does it take to sell a home in Somerset, MD?
Average Listing Age
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 153 Days | 160 Days | +4.3% |
Summary: Homes in Somerset had an average listing age of 160 days in Aug 2023, up by 4.3% compared to the previous year.
