Somerset Neighborhood in Waxhaw, NC
Real Estate Report & Community Spotlight: Quarter 1 - 2023
After softening somewhat in the Third Quarter of 2022, Somerset home prices rebounded in the Fourth Quarter of 2022. In the First Quarter 2023, Somerset home prices softened again compared with the most recent three months. Average sale price declined 4%, while median home price declined 6%. Despite the decline in home prices, the list to sale price ratio was a very respectable 99.14%. Days on market increased to 46 but are in line with the Waxhaw area's days on market.
SOMERSET HOME SALES SNAPSHOT: QUARTER 1 - 2023
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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 close by. Ballantyne Village is quickly accessible. All the major medical practices in Charlotte, which maintain offices in Ballantyne, are but five minutes away. Also nearby are Trader Joe's, Ballantyne Country Club, Piper Glen Club, and horseback riding facilities in nearby Waxhaw.
Somerset provides easy commuting to the Ballantyne Corporate Park, South Park, 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 within less than four miles of the neighborhood.
Marvin Ridge High School is one of the top ranked high schools in the Charlotte region, ranked #1 out of the top 25 high schools for 2023, as it was in 2022. Marvin Ridge Middle School ranks as the #2 best public middle school in Union County and in the top 15 public middle schools in the Charlotte region. Rea View Elementary ranks in the top 20 public elementary schools in the Charlotte region out of 292 elementary public schools and is also ranked as the #2 best public elementary school in Union County. (Rankings by niche.com)
Do top schools make a difference when buying or selling a home? The answer is a YES! Find out why good schools matter when you’re buying or selling a home here.
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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 why experience matters and how:
"The Right Broker Makes All The Difference."
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