Is Somerton, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Somerton has remained a Seller's Market.
Key Takeaway
Somerton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Somerton, PA
How much do homes in Somerton, PA cost?
Median Sold Price
$370,000
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Somerton have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Somerton was $370,000 in April 2024, up 1.4% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155.5K | $171K | +10.0% |
| 2 Bedrooms | $285K | $252K | -11.6% |
| 3 Bedrooms | $362K | $372.5K | +2.9% |
| 4 Bedrooms | $432.5K | $430K | -0.6% |
| 5+ Bedrooms | $430K | $355K | -17.4% |
Summary: Somerton housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes decreased by 11.6%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes decreased by 17.4%.
Housing Supply in Somerton, PA
How many homes are available in Somerton, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 56 | 61 | +8.9% |
Summary: The Somerton real estate market had 61 homes for sale in April 2024, a 8.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 11 | 8 | -27.3% |
| 3 Bedrooms | 29 | 32 | +10.3% |
| 4 Bedrooms | 12 | 19 | +58.3% |
| 5+ Bedrooms | 2 | 0 | -100.0% |
Summary: The Somerton housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 27.3%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 58.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 18 | +5.9% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerton, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Somerton in April 2024, up by 5.9% month-over-month. Of the 18 sold homes, 50% were sold under asking, 11% were sold at asking, and 39% were sold over asking.
Days on Market for Somerton, PA
How long does it take to sell a home in Somerton, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 34 Days | +53.6% |
Summary: Homes in Somerton had an average of 34 days on market in Apr 2024, up by 53.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Somerton are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 18 homes were sold in Somerton; 72% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
