Somerset Home Sales – Quarter 1-2025 Overview
Tight Market Conditions Persist In Somerset In Early 2025
In the first quarter of 2025, both the average and median home sale prices in Somerset rose 12% year-over-year. The price per square foot increased 4% to $244. However, the total number of homes sold remained unchanged at two, the same as in Q1-2024. Given the low volume, price trends should be interpreted with caution.
The list-to-sale price ratio increased slightly—up 1% from a year ago to just under 100%—but 3% higher than the previous quarter ending December 31, 2024. This suggests limited room for negotiation for buyers.
Homes also sold more quickly, with days on market dropping 73% from 81 days one year ago to just 22 in the current year. Inventory remained tight, with the months supply of inventory falling 20% year-over-year to 2.0 months, continuing to reflect seller-favored conditions.
SOMERSET HOME SALES Q1-2025 SNAPSHOT
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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 with some 457 homes situated on the border of Mecklenburg and Union Counties, minutes from Ballantyne and surrounded by some of Charlotte and Waxhaw area's most prestigious, upscale neighborhoods, which include 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. 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 20+ 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: 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 public high school in Union County and #2 best public high school in the Charlotte area. (Rankings by niche.com)
Marvin Ridge Middle School ranks as the #2 best public middle school in Union County and #13 out of 145 public middle schools in the Charlotte region. Marvin Ridge Middle School also ranks 26 of 752 North Carolina public middle schools. (Rankings by nice.com)
Rea View Elementary ranks 21 of 298 public elementary schools in the Charlotte region and #5 of 32 public elementary school in Union County. Rea Vue Elementary School ranks #36 of 1,496 North Carolina public elementary schools. (Rankings by niche.com)
Do top schools make a difference when buying or selling a home? The answer is a YES!
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If you're considering purchasing or selling a home in Somerset, contact Nina Hollander with Coldwell Banker Realty. If you're buying, I have the complete inventory list of homes for sale in Somerset and in Waxhaw. If you're selling, let's get together and discuss the supply conditions in Somerset and how I can assist you in gaining access to buyers who area ready, willing, and able to buy now.
Let me show you why experience matters and how:
"The Right Broker Makes All The Difference."
Read the original report on Somerset home sales in Quarter 1-2025 at www.GreatHomesInCharlotte.com
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