Is Somerset Township, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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, OH
How much do homes in Somerset Township, OH cost?
Median Sold Price
$284,000
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Somerset Township have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in Somerset Township was $284,000 in May 2024, up 9.5% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $189K | $242.4K | +28.3% |
| 3 Bedrooms | $239K | $293.2K | +22.7% |
| 4 Bedrooms | $307.4K | $289K | -6.0% |
| 5+ Bedrooms | $320K | $340K | +6.3% |
Summary: Somerset Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 28.3%, 3 bedroom homes increased by 22.7%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes increased by 6.3%.
Median Sold Price Compared To Nearby Cities
| Somerset Township | $259.4K | $284K | +9.5% |
| Warren Township | $139.9K | $130K | -7.1% |
Housing Supply in Somerset Township, OH
How many homes are available in Somerset Township, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 21 | +40.0% |
Summary: The Somerset Township real estate market had 21 homes for sale in May 2024, a 40.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Somerset Township housing inventory by bedroom type for May 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 27.3%, 4 bedroom homes increased by 200%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Somerset Township, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Somerset Township in May 2024, up by 200.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Somerset Township, OH
How long does it take to sell a home in Somerset Township, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 2 Days | 31 Days | +1242.9% |
Summary: Homes in Somerset Township had an average of 31 days on market in May 2024, up by 1242.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Somerset Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Somerset Township; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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Copyright 2024 MLS Now. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Buyer to verify all information. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged.