Somerset County's June First-Time Homebuyer Report

Somerset County is a county in Maryland with a median income of $40,180 per household. Besides being much less affluent than average, its population is much older than others with a median age of 36 years. The three cities with the largest populations are Princess Anne, Crisfield, and Eden. The Somerset County market is primarily made up of detached houses, which currently account for 84% of the homes for sale in the area. The top school in the county is Princess Anne Elementary School.

Culture

If you're into the outdoors, great attractions in Somerset County include Janes Island State Park and Crisfield City Dock, according to Foursquare. You might also try Peaky's Restaurant, Hardee's / Red Burrito, and Caesar's Pizza Palace, a few popular places to dine out. And finally, Olde Crisfield Tiki Bar is a frequently visited spot to get a drink.

Price Range

Somerset County has some of the more affordable homes in the state with a median home value of $120,500 and a current average list price of $152,231. The most expensive places to live are West Pocomoke, Mount Vernon, and Chance. Fewer sellers put their homes up for sale in the Somerset County market over the last 30 days and the number of new listings plummeted this week to two. Home sales remained unchanged from the prior period and once again three homes were sold.

Typical Dwelling

A three-bedroom detached home valued around $160,392 is considered a typical dwelling in Somerset County. If a buyer was looking for a similar home, they would need good credit and a $32,078 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $632 and the property tax rate is $8.22 per $1,000 of taxable assessed value.

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


Data reported through 6/15/2017

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