Somerset Real Estate Market Sees Sales Fall

The Somerset market pulled back with an 11.1% sales drop in this week's report. Overall sales numbers for the last 30 days fell below the 17.8 monthly average with 16 homes sold. In comparison, the Lake Hills neighborhood had 20 sales in the same time frame, the most of all neighborhoods in the area. Months of inventory were further reduced to one, extending a downward trend to four weeks. Despite the slip in sales from last week to this week, the low inventory indicates that Somerset is still a definite seller's market.

Wonder which homes are generating the most buzz? Here are the most viewed listings in Somerset:

$1.9M   $1.2M   $1.4M  

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

Demographic facts for Somerset:

  • The median value of all homes in the area is $580,498.
  • This area usually gets 155 rainy days each year. (U.S. average: 100)
  • The unemployment rate for this area is 6.0%.
  • For every teacher there are 19.9 students in this area. (15.3 = national average)

Data reported through 10/19/2016


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