Is Somerset Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Somerset Township has remained a Seller's Market.
Housing Prices in Somerset Township, PA
How much do homes in Somerset Township, PA cost?
Median Sold Price
$180,000
$100/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Somerset Township was $180,000 in March 2024, down 8.2% from last year, and the median price per square foot was $100.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $95K | N/A |
2 Bedrooms | $157.5K | $104.5K | -33.7% |
3 Bedrooms | $197K | $179.5K | -8.9% |
4 Bedrooms | $212.5K | $195K | -8.2% |
5+ Bedrooms | $307K | $285K | -7.2% |
Summary: Somerset Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 33.7%, 3 bedroom homes decreased by 8.9%, 4 bedroom homes decreased by 8.2%, and 5+ bedroom homes decreased by 7.2%.
Median Sold Price Compared To Nearby Cities
Somerset | $145K | $190K | +31.0% |
Somerset Township | $196K | $180K | -8.2% |
Housing Supply in Somerset Township, PA
How many homes are available in Somerset Township, PA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 35 | +52.2% |
Summary: The Somerset Township real estate market had 35 homes for sale in March 2024, a 52.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 5 | 6 | +20.0% |
3 Bedrooms | 8 | 17 | +112.5% |
4 Bedrooms | 7 | 9 | +28.6% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Somerset Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 112.5%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 6 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Somerset Township in March 2024, up by 200.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Somerset Township, PA
How long does it take to sell a home in Somerset Township, PA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
101 Days | 62 Days | -38.1% |
Summary: Homes in Somerset Township had an average of 62 days on market in Mar 2024, down by 38.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 6 homes were sold in Somerset Township; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.