Is Somerset, WI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Somerset was a Seller's Market.
Housing Prices in Somerset, WI
How much do homes in Somerset, WI cost?
Median Sold Price
$375,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Somerset was $375,000 in March 2024, down 0.2% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $245K | $375K | +53.1% |
2 Bedrooms | $253.5K | $271.5K | +7.1% |
3 Bedrooms | $376K | $360K | -4.3% |
4 Bedrooms | $450.7K | $440K | -2.4% |
5+ Bedrooms | $386.9K | $437K | +12.9% |
Summary: Somerset housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.1%, 2 bedroom homes increased by 7.1%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 12.9%.
Housing Supply in Somerset, WI
How many homes are available in Somerset, WI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
60 | 68 | +13.3% |
Summary: The Somerset real estate market had 68 homes for sale in March 2024, a 13.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 8 | 11 | +37.5% |
3 Bedrooms | 22 | 28 | +27.3% |
4 Bedrooms | 21 | 22 | +4.8% |
5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The Somerset 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 37.5%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 11 | +83.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Somerset in March 2024, up by 83.3% month-over-month. Of the 11 sold homes, 36% were sold under asking, 36% were sold at asking, and 27% were sold over asking.
Days on Market for Somerset, WI
How long does it take to sell a home in Somerset, WI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
60 Days | 63 Days | +4.4% |
Summary: Homes in Somerset had an average of 63 days on market in Mar 2024, up by 4.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in Somerset; 18% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.