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Somerset Home Values and Market Report

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Report prepared by johnflowersrealtor.com John Flowers Realtor

Market at a glance

Over the last 12 months, homes sold for 98.2% of list price in 45 days on average.

Average price, last 12 months

What sellers asked vs. what homes actually sold for, by closing month.

List · $525K Sold · $540K
$860K$700K$540K$380K
NovDecJanFebMarAprMayJunJulAugSepOct

Homes sold per month

Closed sales, last 12 months.

Peak: 4 sales in Apr. Last month: 1.

Where the market stands

All homes in this report, by status.

43homes
Active10 · 23%
Under contract4 · 9%
Sold (12 mo)29 · 67%

Buyer's or seller's market?

Months it would take to sell every active home at the pace of the last 6 months.

6.0months of inventory
Seller's, under 4BalancedBuyer's, over 6

Supply and demand are roughly in balance in this market.

Average price by status

Active$585K
Under contract$625K
Sold$555K

Average days on market

Active163 days
Under contract54 days
Sold45 days

Browse homes by status

Choose a status to see its numbers, charts and listings.

Active homes

Currently for sale
Homes for sale 10
Average list price $585,027
Avg. days on market 163 days
Avg. price per ft² $360 Based on 6 of 10 homes
Avg. living area 2,082 ft² Based on 6 of 10 homes
Avg. beds / baths 4.0 / 3.0

Price vs. living area

Each dot is a home. Hover a dot for its address, click it to see the home.

4 homes didn’t report living area and aren’t shown.

$1.5M$1M$500K$0

Price vs. living area: 6 homes plotted, up to $1.5M and 6,000 ft².

0 ft²2,0004,0006,000 ft²

How long homes have been listed

Number of homes by days on market.

Bedroom mix

Number of homes by bedroom count.

4 homes didn’t report bedrooms and aren’t shown.

Highest price per ft²

Top 6 homes in this status.

21 Heinrich Rd$408
6 Fountain Dr$386
12 Ford Ave$384
10 Norfolk Rd$337
35 Patton Dr$329
20 Quick Ct$317

All active listings

Click a column to sort
AddressBedsBathsLiving ft²List price$ / ft²Days on market
20 Quick CtSomerset, NJ 08873 543,617$1,149,900$3179 days
10 Norfolk RdSomerset, NJ 08873 421,483$500,000$3377 days
35 Patton DrSomerset, NJ 08873 431,960$645,000$3297 days
6 Fountain DrSomerset, NJ 08873 442,326$899,900$38640 days
21 Clyde Rd Unit 201Somerset, NJ 08873 ———$229,775—18 days
21 Heinrich RdSomerset, NJ 08873 321,467$600,000$40843 days
12 Ford AveSomerset, NJ 08873 431,640$629,999$384106 days
535 Madison AveSomerset, NJ 08873 ———$95,900—352 days
109 Weston RdSomerset, NJ 08873 ———$549,900—523 days
107 Weston RdSomerset, NJ 08873 ———$549,900—523 days
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Questions about this market?

These numbers move every month. For what they mean for your home, or for a home you have your eye on, get in touch.

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