Somerset Neighborhood in Waxhaw, NC
Real Estate Report & Community Spotlight
Quarter 1 - 2020
In the 1st Quarter of 2020, three homes sold in the Somerset neighborhood; three less than in the first quarter of the previous year. New listings in the first quarter of 2020 were down by more than 50% compared with the same quarter the prior year. Median listing and sale prices ($375,000) were down versus the first quarter of 2019. Average listing and selling prices increased in the 1st quarter compared with the same time period one year ago. Average selling price was $407,500.
Average days on market were down 13 days versus the same quarter in the previous year to 29.
Somerset home sellers received 98.64% of list price in final sale price. The months supply of inventory in Somerset was razor thin at just one month in the 1st Quarter of 2020.
At quarter-end, one home was listed for sale in Somerset. No homes were in contract at the end of Quarter 1, 2020.
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Median Sale Price History For Homes In Somerset
Why Somerset Is An In-Demand Waxhaw Neighborhood
Somerset is a 200-acre master-planned community situated on the border of Mecklenburg and Union Counties, minutes from Ballantyne and surrounded by some of Charlotte/Waxhaw area's most prestigious and upscale neighborhoods, including Hunter Oaks, Providence Country Club, Longview, and Marvin Creek. Outstanding community amenities in Somerset include a pool, clubhouse, tennis courts, play ground, and walking trails.
The Somerset community was developed between 1998 and 2003 by St Lawrence Homes, D R Horton, Fortis, and Ryland. The homes in Somerset range in size from about 1,990 square feet to over 4,500 square feet with average square footage just under 3,000. Lot sizes average about .3 of an acre but can also range from .2 of an acre to over half an acre.
Somerset is located minutes from Charlotte's trendy and popular Ballantyne area. All the shopping you could want is literally just minutes away along Rea Road or Providence Road, including three, large outdoor shopping centers (Blakeney, Waverly and Stonecrest) offering grocery shopping, high-end boutiques, spas, casual and fine dining restaurants, movie theatres, and more. Carolina Place Mall and Carolinas Medical Center/Pineville are clse by. Ballantyne Village, the world-class Ballantyne Resort and Spa, the Ballantyne Golf Course are all also quickly accessible. All the major medical practices in Charlotte, which maintain offices in Ballantyne, are but five minutes down the road. Also nearby are Trader Joe's, Ballantyne Country Club, Piper Glen Club, horseback riding facilities in nearby Waxhaw.
Somerset provides easy commuting to the Ballantyne Corporate Park, SouthPark, Matthews, Charlotte-Douglas Airport, as well as easy access to I-485 and primary local roads.
All of life life's necessities are within easy reach of Somerset in less than a mile. And if you love the "great outdoors" and/or golf, there are 23 golf courses within 10 miles of Somerset and numerous parks for both humans and dogs!
Top-Rated Union County Schools
Somerset is served by some of the top Union County public schools in: Marvin Ridge High School, Marvin Ridge Middle School, and Rea View Elementary School, all located witin less than four miles of the neighborhood. (Union County Public School system is ranked by niche.com as the 3rd best school district in the State of North Carolina.)
Marvin Ridge High School is one of the top ranked high schools in the Charlotte region, ranked #2 out of the top 25 high schools. Marvin Ridge Middle School ranks in the top 15 middle schools in the Charlotte region. Rea View Elementary ranks in the top 25 elementary schools in the Charlotte region. )School rankings provided by niche.com.)
THINKING ABOUT SELLING YOUR HOME? SEE WHAT THE COLDWELL BANKER MARKETING ADVANTAGE IS ALL ABOUT.
If you're considering purchasing or selling a home in Somerset, contact Nina Hollander/Carolinas Realty Partners with Coldwell Banker Realty. If you're buying, we have the complete inventory list of homes for sale in Somerset. If you're selling, let's get together and discuss the supply conditions in Somerset and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.
And let us show you how: