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Somerset Market Report September 2008

Currently there are 101 single family homes on the market in the Town of Somerset.

There were 12 single family homes sold during the month of September. With an average sales price of $250,725 and the average days on the market at 116.

Compared to last September with 11 homes sold during the month. However, the average sales price was up at $324,232 and the average days on the market at 121.

Where are we at year to date compared to 1 year ago...

Well last year at this time 125 single family homes sold with an average sales price of $286,539. Year to date, 78 single family homes with an average sales price of $258,370 have sold.

Keep in mind this information is for single family homes.

For those considering selling, as you can see sales prices are down approximately 10%. Inventory is higher than it was a year ago, and their are less units selling than in the previous year.

There are many things to consider when deciding to sell your home. Find out what you need to know when selling in this market. Contact me for a no obligation market analysis!

Take care,

Posted by Suzanne Sands-Somerset, MA Real Estate on 10/09/2008 11:24 AM

Comments (6)

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Originally posted at: Suzanne's Somerset Real Estate Blog: Somerset Market Report September 2008

This post has been included in Massachusetts Information Bristol County, MA Information Somerset, MA Information

6 Comments on Somerset Market Report September 2008

OCT

2008

Suzanne the drop in sales volume is very similar to all the towns out here in Metrowest.

OCT

2008

Suzanne sobering, but not as bad as I thought :) Interesting how we can take those stats and I already spun them in my mind to show something Positive instead of negative. Not always easy but definitely can be done :) Hope all's well with you.

Hi Bill,

It seems to be a common trend. Hope all is well! :)

Hi Kathy,

Thank you, thats all we can really do. :)

OCT

2008

Hi Suzanne -- this is a nice easy to understand report. There certainly has been a market adjustment. Many think we may be at or near the bottom -- so with interest rates still historically low, it is a good time for some to consider buying. Hope you are doing well and enjoying the fall.

Hi Joan,

Its getting cold...I agree that it may be a good time for some to buy! Always nice to see you. :)

OCT

2008

Not too bad ! 4 months on the market is pretty good - seems like the inventory is holding stable as well. I think middle of next year things start to tick up nationally.

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