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
$186,000
$105/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 $186,000 in March 2024, up 12.7% from last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $95K | N/A |
2 Bedrooms | $138K | $106K | -23.2% |
3 Bedrooms | $219K | $189.5K | -13.5% |
4 Bedrooms | $165K | $200K | +21.2% |
5+ Bedrooms | - | $252.2K | N/A |
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 23.2%, 3 bedroom homes decreased by 13.5%, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes did not change.
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 |
---|---|---|
21 | 33 | +57.1% |
Summary: The Somerset Township real estate market had 33 homes for sale in March 2024, a 57.1% 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 | 6 | 6 | 0.0% |
3 Bedrooms | 6 | 15 | +150.0% |
4 Bedrooms | 7 | 10 | +42.9% |
5+ Bedrooms | 1 | 1 | 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 remained the same, 3 bedroom homes increased by 150%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 7 | +250.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Somerset Township in March 2024, up by 250.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% 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 | 60 Days | -40.6% |
Summary: Homes in Somerset Township had an average of 60 days on market in Mar 2024, down by 40.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in Somerset Township; 43% 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.