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| JUNE 2025 | |||
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| Units Sold 21 |
Active Inventory 111 |
Median Sale Price $245,000 |
Days On Market 50 |
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| Up 17% Vs. Year Ago |
Up 16% Vs. Year Ago |
Up 11% Vs. Year Ago |
Down -30% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in June, with 21 sold this month in Somerset County Real Estate versus 27 last month, a decrease of 22%. This month's total units sold was higher than at this time last year, an increase of 17% versus June 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 15 units or 16%. The total number of active inventory this June was 111 compared to 96 in June 2024. This month's total of 111 is lower than the previous month's total supply of available inventory of 113, a decrease of 2%. |
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Median Sale Price
Last June, the median sale price for Somerset County Homes was $220,000. This June, the median sale price was $245,000, an increase of 11% or $25,000 compared to last year. The current median sold price is 2% lower than in May. 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 31 |
Current Contracts 16 |
Sold Vs. List Price 98.6% |
Months of Supply 5.3 |
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| Up 41% Vs. Year Ago |
Down -11% Vs. Year Ago |
Up 1.7% Vs. Year Ago |
No Change Vs. Year Ago |
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Months of Supply
In June, there was 5.3 months of supply available in Somerset County. The amount of supply is similar compared to 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 31 homes newly listed for sale in Somerset County compared to 22 in June 2024, an increase of 41%. There were 16 current contracts pending sale this June compared to 18 a year ago. The number of current contracts is 11% lower than last June. |
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Sale Price to List Price Ratio
In June, the average sale price in Somerset County was 98.6% of the average list price, which is 1.7% higher than at this time last year. Days on Market
This month, the average number of days on market was 50, lower than the average last year, which was 71, a decrease of 30%. | |||
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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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