Is Somerset, MA 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, Somerset has remained a Seller's Market.
Housing Prices in Somerset, MA
How much do homes in Somerset, MA cost?
Median Sold Price
$454,000
$293/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Somerset was $454,000 in April 2024, up 11.3% from last year, and the median price per square foot was $293.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220K | $282.5K | +28.4% |
2 Bedrooms | $365K | $363.2K | -0.5% |
3 Bedrooms | $400K | $447.5K | +11.9% |
4 Bedrooms | $470K | $535.2K | +13.9% |
5+ Bedrooms | $470K | $582.5K | +23.9% |
Summary: Somerset housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.4%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 23.9%.
Median Sold Price Compared To Nearby Cities
Somerset | $408K | $454K | +11.3% |
Fall River | $425K | $444K | +4.5% |
Swansea | $425K | $442.5K | +4.1% |
Dighton | $515K | $500K | -2.9% |
Assonet | $595.1K | $575.4K | -3.3% |
Housing Supply in Somerset, MA
How many homes are available in Somerset, MA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
34 | 43 | +26.5% |
Summary: The Somerset real estate market had 43 homes for sale in April 2024, a 26.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 4 | +100.0% |
3 Bedrooms | 18 | 25 | +38.9% |
4 Bedrooms | 11 | 9 | -18.2% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Somerset 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 increased by 100%, 3 bedroom homes increased by 38.9%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 13 | +30.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Somerset in April 2024, up by 30.0% month-over-month. Of the 13 sold homes, 46% were sold under asking, 8% were sold at asking, and 46% were sold over asking.
Days on Market for Somerset, MA
How long does it take to sell a home in Somerset, MA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
19 Days | 32 Days | +66.1% |
Summary: Homes in Somerset had an average of 32 days on market in Apr 2024, up by 66.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 13 homes were sold in Somerset; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.