$1,186 Closing Credit*
$99,900
1,056 SqFt
3 Beds
•1 Full Bath
Jennifer Sheredy, Listing Office: Berkshire Hathaway The Preferred Realty
Is Somerset Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Somerset Township has remained a Seller's Market.
Key Takeaway
Somerset Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Somerset Township, PA
How much do homes in Somerset Township, PA cost?
Median Sold Price
$175,000
$115/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
-$11,000(-5.9%)
Key Takeaway
Homes in Somerset Township have sold for 5.9% less than they did a year ago.
Summary: The median home sold price in Somerset Township was $175,000 in August 2024, down 5.9% from last year, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $95K | $50.5K | -46.8% |
| 2 Bedrooms | $123K | $110.5K | -10.2% |
| 3 Bedrooms | $187K | $190K | +1.6% |
| 4 Bedrooms | $177.5K | $190K | +7.0% |
| 5+ Bedrooms | $320K | $277.5K | -13.3% |
Summary: Somerset Township housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 46.8%, 2 bedroom homes decreased by 10.2%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 7%, and 5+ bedroom homes decreased by 13.3%.
Median Sold Price Compared To Nearby Cities
| Eighty Four | $400K | $421K | +5.3% |
| Somerset Township | $186K | $175K | -5.9% |
Housing Supply in Somerset Township, PA
How many homes are available in Somerset Township, PA?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 43 | 42 | -2.3% |
Summary: The Somerset Township real estate market had 42 homes for sale in August 2024, a 2.3% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 23 | 20 | -13.0% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Somerset Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 13%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerset Township, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Somerset Township in August 2024, down by 8.3% month-over-month. Of the 11 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% 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
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 89 Days | 37 Days | -57.8% |
Summary: Homes in Somerset Township had an average of 37 days on market in Aug 2024, down by 57.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Somerset Township has remained consistent over time.
Summary: During August 2024, 11 homes were sold in Somerset Township; 45% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
