Somerset Home Sales – Quarter 1-2025 OverviewTight 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 mont... 04/11/2025

Somerset Neighborhood in Waxhaw, NCReal Estate Report & Community Spotlight: Quarter 3 - 2023 List To Sale Price Ratio: 107.27% | Days On Market Just 2 DaysSomerset home sales Q3-2023 saw average and median home sale prices increase 18% and 12%, respectively, compared with the same quarter one year ago. Home prices also increased significantly over Quarter 2-2023. The list to sale price ratio increased to 107.27%. Lack of inventory in Somerset kept it a seller's market in Quarter 3-2023 and was reflected in the average two days on market for listed homes. SOMERSET HOME SALES SNAPSHOT: QUARTER 3 - 2023 SOMERSET HOME SALES SNAPSHOT: QUARTER 2 - 2023 SOMERSET HOME SALES SNAPSHOT: QUARTER 1 - 2023   To track sales in Somerset "real time," click here for our Neighborhood Analyzer Report and ... 10/11/2023

Somerset Neighborhood in Waxhaw, NCReal Estate Report & Community Spotlight: Quarter 2 - 2023List To Sale Price Ratio: 103.33% | Home Prices Up From Q1 - 2023 Although Somerset's average home sale price was down compared with Quarter 2-2022, the average sale price increased $68,000 from the First Quarter 2023. Median sale price was also down year-over-year, but $30,000 higher than in the First Quarter 2023.List to sale price ratio of 103.33% in Quarter 2-2023 was 6% lower than in the same quarter one year ago, but was 4.19% higher than in Quarter 1-2023.Continuing declines in the number of homes for sale in Somerset kept it a seller's market in Quarter 2-2023 despite an increase in days on market both year-over-year and quarter-over-quarter. SOMERSET HOME SALES SNAPSHOT: QUARTER 2 - 202... 07/07/2023

Somerset Neighborhood in Waxhaw, NCReal Estate Report & Community Spotlight: Quarter 1 - 2023 After softening somewhat in the Third Quarter of 2022, Somerset home prices rebounded in the Fourth Quarter of 2022. In the First Quarter 2023, Somerset home prices softened again compared with the most recent three months. Average sale price declined 4%, while median home price declined 6%. Despite the decline in home prices, the list to sale price ratio was a very respectable 99.14%. Days on market increased to 46 but are in line with the Waxhaw area's days on market. SOMERSET HOME SALES SNAPSHOT: QUARTER 1 - 2023  To track sales in Somerset "real time," click here for our Neighborhood Analyzer Report and sign up to automatically receive reports on Somerset sales activity. Median Sale Price H... 04/15/2023

Somerset Neighborhood in Waxhaw, NCReal Estate Report & Community SpotlightQuarter 3 - 2022 In Quarter 3 - 2022, three homes sold in the Somerset neighborhood, seven fewer than in the same quarter of the previous year and 10 fewer than in Quarter 2 - 2022. . New listings decreased by three year-over-year from eight homes to five homes in the Third Quarter 2022. New listings decreased by eight from 13 in the Second Quarter 2022. Higher days on market year-over-year and quarter over quarter signaled a shift in the market, as did the lower list to sale price ratios in Quarter 3 - 2022. Median listing and sale prices increased slightly compared with  Quarter 3 - 2021, but decreased quarter-over-quarter.  Average selling price was $593,167 increasing 0.88% year-over-year. Compared with Quart... 10/19/2022

Somerset Neighborhood in Waxhaw, NCReal Estate Report & Community SpotlightQuarter 2 - 2022 In the Quarter 2 - 2022, 13 homes sold in the Somerset neighborhood, one more than in the same quarter of the previous year. New listings increased by one year-over-year from 12 homes to 13 homes in the Second Quarter 2022. Median listing and sale prices increased significantly compared with  Quarter 2 - 2021.  Average selling price was $662,908, increasing 24.27% year-over-year. Compared with Quarter 1 - 2022, average home sale prices were about $108,000 higher. The median sale price in Somerset was $630,000, increasing 18.87% year-over-year. Compared with Quarter 1 - 2022, median home sale prices were $90,000 higher. Median home prices set a new record in the Second Quarter. Home sales prices r... 07/19/2022

Somerset Neighborhood in Waxhaw, NCReal Estate Report & Community SpotlightQuarter 4 - 2021 In the 4th Quarter 2021, four homes sold in the Somerset neighborhood, one less than in the same quarter of the previous year. Six fewer homes sold in Quarter 4 - 2021 versus Quarter 3 - 2021. New listings increased by three year-over-year from three homes to six homes in the fourth quarter 2021. Median listing and sale prices increased compared with the Fourth Quarter 2020.  Average selling price was $567,413, increasing 25.95% year-over-year. The median sale price in Somerset was $575,000, increasing 26.69% year-over-year. Home sales prices ranged from a low of $480,000 to a high of $653,500 in the fourth quarter 2021. Somerset home sellers received 103.5% of listing price in final sale price, ... 01/26/2022