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| APRIL 2025 | |||
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| Units Sold 21 |
Active Inventory 114 |
Median Sale Price $205,000 |
Days On Market 87 |
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| Down Vs. Year Ago |
Up 9% Vs. Year Ago |
Up 6% Vs. Year Ago |
Up 36% Vs. Year Ago |
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Units Sold
With relatively few transactions, there was an increase in total units sold in April, with 21 sold this month in Somerset County Real Estate. This month's total units sold was lower than at this time last year, a decrease from April 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 9 units or 9%. The total number of active inventory this April was 114 compared to 105 in April 2024. This month's total of 114 is lower than the previous month's total supply of available inventory of 123, a decrease of 7%. |
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Median Sale Price
Last April, the median sale price for Somerset County Homes was $192,500. This April, the median sale price was $205,000, an increase of 6% or $12,500 compared to last year. The current median sold price is 11% lower than in March. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 40 |
Current Contracts 35 |
Sold Vs. List Price 96.4% |
Months of Supply 5.4 |
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| Up 25% Vs. Year Ago |
Up 94% Vs. Year Ago |
Down -0.7% Vs. Year Ago |
Up 55% Vs. Year Ago |
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Months of Supply
In April, there was 5.4 months of supply available in Somerset County, compared to 3.5 in April 2024. That is an increase of 55% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. |
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New Listings & Current Contracts
This month there were 40 homes newly listed for sale in Somerset County compared to 32 in April 2024, an increase of 25%. There were 35 current contracts pending sale this April compared to 18 a year ago. The number of current contracts is 94% higher than last April. |
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Sale Price to List Price Ratio
In April, the average sale price in Somerset County was 96.4% of the average list price, which is 0.7% lower than at this time last year. Days on Market
This month, the average number of days on market was 87, higher than the average last year, which was 64, an increase of 36%. | |||
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| *Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates. | |||
 Information included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc. |
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