Single family home sales in Somerset during 2011
Here is some real estate market data describing the housing market in Somerset for all of 2011 and how it compares to last year. The data is from the MLS and is for single family homes.
124 single family homes sold in Somerset during 2011 at an average sale price of $206,124 and median price of $200,000. For the same 12 month period in 2010, 111 single family homes sold with an average sales price of $1238,453 and median price of $235,000.
2011 volume was up 12% compared to last year, while the average price was down 13.6% and the median price down 14.9% or $35,000.
As of January 1 2012 there were 83 single family homes for sale in Somerset, with a median asking price of $299,900, as compared to January 1 a year ago when there were 70 homes with a median asking price of $252,450.
What does all this mean? Inventory is up as compared to this time last year so there is more selection available, and with lower asking prices and the current historically low interest rates, this an excellent time to be buying a single family home in Somerset!
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