October's First-Time Homebuyer Report for Somerville

Somerville is a larger than average city in New Jersey that has seen a 0.6% increase in population over the last 10 years. It also has a total population of 12,098. With a median age of 56 years, homes in Somerville tend to be older than most. Leading the list of best schools in the city are Bayberry and Valley View.

Price Range

Homes in Somerville are worth a median of $253,600, similar to other parts of New Jersey. Additionally, the list prices of available homes is currently at an average of $328,750. The Somerville market remains completely quiet as, once again this week, no sales were reported over the previous 30 days. Somerville usually averages 0.2 sales per month.

Typical Dwelling

The typical dwelling in Somerville is a three-bedroom detached home worth about $316,500. To purchase a similar home, a buyer with good credit and a $63,300 cash down payment could obtain a mortgage with a 3.95% interest rate and a $274 monthly payment. The property tax rate is $19.49 per $1,000 of taxable assessed value.

Get started right now by checking out Somerville homes for sale or reviewing Somerville real estate trends.


Data reported through 10/13/2016

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Keller Williams Towne SquareRealty
Snapped 2 homes in this area

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